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Fiscal spillovers in the Euro area

✍ Scribed by Caporale, Guglielmo Maria; Girardi, Alessandro


Book ID
123123690
Publisher
Elsevier Science
Year
2013
Tongue
English
Weight
406 KB
Volume
38
Category
Article
ISSN
0261-5606

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Monetary policy shocks in the euro area
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## Abstract We analyse the international transmission of monetary shocks with a focus on the effects of foreign liquidity on the euro area. We estimate two domestic structural VAR models for the euro area and then we introduce a global liquidity aggregate. The impulse responses show that a positive