全球智库信息集成服务系统(G2TT): DP16134 Making waves: Monetary policy and its asymmetric spillovers in a globalised world

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP16134
	DP16134 Making waves: Monetary policy and its asymmetric spillovers in a globalised world
	Michele Ca’Zorzi; Luca Dedola; Georgios Georgiadis; Marek Jarociński; Livio Stracca; Georg Strasser
发表日期	2021-05-10
出版年	2021
语种	英语
摘要	This paper compares the international transmission of European Central Bank (ECB) and Federal Reserve System (Fed) monetary policy in a unified framework, identifying pure monetary policy shocks purged of bias from central bank information effects. The estimates reveal a stark asymmetry in the global spillovers from ECB and Fed monetary policy: Fed monetary policy shocks have a significant impact on euro area financial conditions and real activity, while ECB monetary policy shocks do not have a similar effect on the United States (US). Fed monetary policy shocks also affect real and financial variables in the rest of the world more than ECB monetary policy shocks.
主题	International Macroeconomics and Finance ; Monetary Economics and Fluctuations
关键词	Monetary policy spillovers Monetary policy shocks International transmission
URL	https://cepr.org/publications/dp16134
来源智库	Centre for Economic Policy Research (United Kingdom)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/545108
推荐引用方式 GB/T 7714	Michele Ca’Zorzi,Luca Dedola,Georgios Georgiadis,et al. DP16134 Making waves: Monetary policy and its asymmetric spillovers in a globalised world. 2021.