Monetary Policy Shocks in the Euro Area and Global Liquidity Spillovers |
Contents
the effects of foreign liquidity on the euro area We estimate two domestic structural | 3 |
Global liquidity spillovers | 12 |
Conclusion | 19 |
Common terms and phrases
1-time standard deviation analysis ANGELINI annali di economia Aspetti finanziari Banca d'Italia Bank benchmark models BLASIO Bologna BUSETTI Cannari capital flows Chiri Cholesky Cholesky decomposition commerciali del credito Commodity Price Index confidence bands consumer price indices contribution countries credito commerciale credito tra imprese December Dedola Econometrics economisti e annali error variance decomposition euro area exogenous variable February finanziari e commerciali forecast error variance GAMBACORTA GDP deflator Giornale degli economisti GL4Y global liquidity aggregate global liquidity leads global liquidity plays global monetary GOLINELLI imprese in Italia Imprese o intermediari Impulse responses Journal of Monetary Journal of Money June LIPPI macroeconomic Model 2a monetary aggregates Monetary Economics monetary growth monetary policy shocks monetary transmission money demand Mulino OECD Main Econ Omiccioli eds output fluctuations PAIELLA PPP exchange rate real GDP SCHIVARDI shocks to global shocks to M3 short-term interest rate short-term rate spillover SVAR technology shock transmission mechanism