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Luca Dedola

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

RePEc Biblio mentions

As found on the RePEc Biblio, the curated bibliography of Economics:
  1. Luca Dedola & Giulia Rivolta & Livio Stracca, 2016. "If the Fed Sneezes, Who Catches a Cold?," NBER Chapters, in: NBER International Seminar on Macroeconomics 2016, National Bureau of Economic Research, Inc.

    Mentioned in:

    1. > Econometrics > Time Series Models > VAR Models > Bayesian Vector autoregressions (BVARs)

Working papers

  1. Giancarlo Corsetti & Luca Dedola & Sylvain Leduc, 2020. "Exchange Rate Misalignment and External Imbalances: What is the Optimal Monetary Policy Response?," Discussion Papers 2008, Centre for Macroeconomics (CFM).

    Cited by:

    1. Candian, Giacomo, 2021. "Central bank transparency, exchange rates, and demand imbalances," Journal of Monetary Economics, Elsevier, vol. 119(C), pages 90-107.
    2. Daeha Cho & Kwang Hwan & Sukjoon Kim, 2023. "The Paradox of Price Flexibility in an Open Economy," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 51, pages 370-392, December.
    3. Chen, Sihao & Devereux, Michael B. & Shi, Kang & Xu, Juanyi, 2023. "Consumption heterogeneity and monetary policy in an open economy," Journal of Monetary Economics, Elsevier, vol. 140(C), pages 1-15.

  2. Giancarlo Corsetti & Luca Dedola & Sylvain Leduc, 2018. "Exchange Rate Misalignment, Capital Flows, and Optimal Monetary Policy Trade-off," Discussion Papers 1806, Centre for Macroeconomics (CFM).

    Cited by:

    1. Crowley, Meredith A. & Corsetti, Giancarlo & Han, Lu & Song, Huasheng, 2019. "Markets and Markup: A New Empirical Framework and Evidence on Exporters from China," CEPR Discussion Papers 13904, C.E.P.R. Discussion Papers.
    2. Yin-Wong Cheung & Sven Steinkamp & Frank Westermann, 2019. "A tale of two surplus countries: China and Germany," CESifo Working Paper Series 7669, CESifo.
    3. Corsetti, G. & Crowley, M. & Han, L., 2018. "Invoicing and the Dynamics of Pricing-to-market - Evidence from UK Export Prices around the Brexit Referendum," Cambridge Working Papers in Economics 1860, Faculty of Economics, University of Cambridge.
    4. Ozge Akinci & Albert Queraltó, 2019. "Exchange Rate Dynamics and Monetary Spillovers with Imperfect Financial Markets," International Finance Discussion Papers 1254, Board of Governors of the Federal Reserve System (U.S.).
    5. Ca' Zorzi, Michele & Dedola, Luca & Georgiadis, Georgios & Jarociński, Marek & Stracca, Livio & Strasser, Georg, 2020. "Monetary policy and its transmission in a globalised world," Working Paper Series 2407, European Central Bank.
    6. Maurice Obstfeld, 2020. "Global Dimensions of U.S. Monetary Policy," International Journal of Central Banking, International Journal of Central Banking, vol. 16(1), pages 73-132, February.
    7. Tony Zhang, 2022. "Monetary Policy Spillovers through Invoicing Currencies," Journal of Finance, American Finance Association, vol. 77(1), pages 129-161, February.
    8. Jacob, Punnoose & Uusküla, Lenno, 2019. "Deep habits and exchange rate pass-through," Journal of Economic Dynamics and Control, Elsevier, vol. 105(C), pages 67-89.
    9. Woon Gyu Choi & Mr. David Cook, 2018. "Policy Conflicts and Inflation Targeting: The Role of Credit Markets," IMF Working Papers 2018/072, International Monetary Fund.
    10. Kai Arvai, 2021. "The Political Economy of Currency Unions," Working papers 850, Banque de France.
    11. Guillermo Benavides-Perales & Isela-Elizabeth Téllez-León & Francisco Venegas-Martínez, 2020. "How Sensitive is the Exchange Rate to External and Internal Factors in Mexico? A Comparative Analysis with 27 Developed and Emerging Economies," Revista de Investigación en Ciencias Contables y Administrativas, Universidad Michoacana de San Nicolás de Hidalgo, Facultad de Contaduría y Ciencias Administrativas, vol. 6(1), pages 4-18, December.
    12. Corsetti, G. & Han, L. & Crowley, M. & Song, H., 2018. "Markets and Markups: Evidence on the Rising Market Power of Exporters from China," Cambridge Working Papers in Economics 1815, Faculty of Economics, University of Cambridge.
    13. Konstantin Egorov & Dmitry Mukhin, 2019. "Optimal Monetary Policy under Dollar Pricing," 2019 Meeting Papers 1510, Society for Economic Dynamics.
    14. Simiso Msomi & Harold Ngalawa, 2024. "The Monetary Model of Exchange Rate Determination for South Africa," Economies, MDPI, vol. 12(8), pages 1-16, August.
    15. Ṣebnem Kalemli-Özcan, 2019. "U.S. Monetary Policy and International Risk Spillovers," NBER Working Papers 26297, National Bureau of Economic Research, Inc.
    16. Aiba, Daiju, 2023. "Bank dependency on foreign funding and global liquidity shocks: The importance of US monetary policy for a developing country," Journal of Asian Economics, Elsevier, vol. 84(C).
    17. Kalemli-Özcan, Sebnem, 2019. "US Monetary Policy and International Risk Spillovers," CEPR Discussion Papers 14053, C.E.P.R. Discussion Papers.

  3. Luca Dedola & Georgios Georgiadis & Johannes Grab & Arnaud Mehl, 2018. "Does a Big Bazooka Matter? Central Bank Balance-Sheet Policies and Exchange Rates," Globalization Institute Working Papers 350, Federal Reserve Bank of Dallas.

    Cited by:

    1. Enders, Zeno & Hünnekes, Franziska & Müller, Gernot J., 2019. "Monetary policy announcements and expectations: Evidence from german firms," Journal of Monetary Economics, Elsevier, vol. 108(C), pages 45-63.
    2. Cawley, Cormac & Finnegan, Marie, 2019. "Transmission channels of central bank asset purchases in the Irish economy," MPRA Paper 96547, University Library of Munich, Germany.
    3. Cormac Cawley & Marie Finnegan, 2019. "Transmission Channels of Central Bank Asset Purchases in the Irish Economy," Economies, MDPI, vol. 7(4), pages 1-25, September.
    4. Eva Ortega & Chiara Osbat, 2020. "Exchange rate pass-through in the euro area and EU countries," Occasional Papers 2016, Banco de España.
    5. Matthieu Lemoine & Harri Turunen & Mohammed Chahad & Antoine Lepetit & Anastasia Zhutova & Pierre Aldama & Pierrick Clerc & Jean-Pierre Laffargue, 2019. "The FR-BDF Model and an Assessment of Monetary Policy Transmission in France, Working Paper Series no. 736, Banque de France," Working Papers hal-02400611, HAL.
    6. Hielke Van Doorslaer & Mattias Vermeiren, 2021. "Pushing on a String: Monetary Policy, Growth Models and the Persistence of Low Inflation in Advanced Capitalism," New Political Economy, Taylor & Francis Journals, vol. 26(5), pages 797-816, September.

  4. Dedola, Luca & Rivolta, Giulia & Stracca, Livio, 2017. "If the Fed sneezes, who catches a cold?," Working Paper Series 2050, European Central Bank.

    Cited by:

    1. Bhattarai, Saroj & Chatterjee, Arpita & Park, Woong Yong, 2018. "Effects of US Quantitative Easing on Emerging Market Economies," ADBI Working Papers 803, Asian Development Bank Institute.
    2. Krittika Banerjee & Ashima Goyal, 2020. "Monetary spillovers and real exchange rate misalignments in emerging markets," Indira Gandhi Institute of Development Research, Mumbai Working Papers 2020-030, Indira Gandhi Institute of Development Research, Mumbai, India.
    3. Jing Cynthia Wu & Yinxi Xie & Ji Zhang, 2024. "The Role of International Financial Integration in Monetary Policy Transmission," Staff Working Papers 24-3, Bank of Canada.
    4. Chiang, Thomas C., 2021. "Spillovers of U.S. market volatility and monetary policy uncertainty to global stock markets," The North American Journal of Economics and Finance, Elsevier, vol. 58(C).
    5. De Simone, Francisco Nadal, 2024. "The transmission of U.S. monetary policy to small open economies," Journal of International Money and Finance, Elsevier, vol. 142(C).
    6. Hristov, Nikolay & Hülsewig, Oliver & Wollmershäuser, Timo, 2019. "Capital flows in the euro area and TARGET2 balances," Discussion Papers 24/2019, Deutsche Bundesbank.
    7. Simon Lloyd & Ed Manuel & Konstantin Panchev, 2024. "Foreign Vulnerabilities, Domestic Risks: The Global Drivers of GDP-at-Risk," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 72(1), pages 335-392, March.
    8. Klug, Thorsten & Mayer, Eric & Schuler, Tobias, 2021. "The corporate saving glut and the current account in Germany," Working Paper Series 2586, European Central Bank.
    9. Callum Jones & Mariano Kulish & Daniel M. Rees, 2018. "International Spillovers of Forward Guidance Shocks," IMF Working Papers 2018/114, International Monetary Fund.
    10. Jongrim Ha & Inhwan So, 2023. "Which Monetary Shocks Matter in Small Open Economies? Evidence from Canada," International Journal of Central Banking, International Journal of Central Banking, vol. 19(2), pages 389-472, June.
    11. Sushant Acharya & Julien Bengui, 2016. "Liquidity traps, capital flows," Staff Reports 765, Federal Reserve Bank of New York.
    12. Alessio Volpicella, 2019. "SVARs Identification through Bounds on the Forecast Error Variance," Working Papers 890, Queen Mary University of London, School of Economics and Finance.
    13. Kristina Bluwstein & Fabio Canova, 2016. "Beggar-Thy-Neighbor? The International Effects of ECB Unconventional Monetary Policy Measures," International Journal of Central Banking, International Journal of Central Banking, vol. 12(3), pages 69-120, September.
    14. McQuade, Peter & Schmitz, Martin, 2019. "America First? A US-centric view of global capital flows," Research Technical Papers 2/RT/19, Central Bank of Ireland.
    15. Akbari Dehbaghi, Simin & Arman, Seyed Aziz & Ahangari, Majid, 2020. "The Impact of Domestic and Foreign Monetary Policy on Iran\'s economy: Global Modeling," Journal of Money and Economy, Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran, vol. 15(2), pages 151-180, April.
    16. Friedrich, Christian & Guerin, Pierre & Leiva-León, Danilo, 2021. "Monetary Policy Independence and the Strength of the Global Financial Cycle," CEPR Discussion Papers 16203, C.E.P.R. Discussion Papers.
    17. Julian di Giovanni & John Rogers, 2024. "The Impact of U.S. Monetary Policy on Foreign Firms," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 72(1), pages 58-115, March.
    18. Giovanni Ricco & Riccardo Degasperi & Seokki S. Hong, 2020. "The Global Transmission of U.S. Monetary Policy," Working Papers 814, Economic Research Southern Africa.
    19. Lakdawala, Aeimit, 2021. "The growing impact of US monetary policy on emerging financial markets: Evidence from India," Journal of International Money and Finance, Elsevier, vol. 119(C).
    20. Cavallino, Paolo & Sandri, Damiano, 2023. "The open-economy ELB: Contractionary monetary easing and the trilemma," Journal of International Economics, Elsevier, vol. 140(C).
    21. Bonciani, Dario & Ricci, Martino, 2020. "The global effects of global risk and uncertainty," Bank of England working papers 863, Bank of England.
    22. Katharina Bergant & Francesco Grigoli & Niels‐Jakob Hansen & Damiano Sandri, 2024. "Dampening Global Financial Shocks: Can Macroprudential Regulation Help (More than Capital Controls)?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 56(6), pages 1405-1438, September.
    23. Szafranek, Karol & Szafrański, Grzegorz & Leszczyńska-Paczesna, Agnieszka, 2024. "Inflation returns. Revisiting the role of external and domestic shocks with Bayesian structural VAR," International Review of Economics & Finance, Elsevier, vol. 93(PA), pages 789-810.
    24. Goswami, Mangal & Pontines, Victor & Mohammed, Yassier, 2023. "Portfolio capital flows and the US dollar exchange rate: Viewed from the lens of time and frequency dynamics of connectedness," International Review of Financial Analysis, Elsevier, vol. 89(C).
    25. Lim, Hyunjoon, 2024. "Debt vulnerabilities and house price responses to external shocks," Finance Research Letters, Elsevier, vol. 63(C).
    26. Bartkiewicz Piotr, 2018. "The Impact of Quantitative Easing on Emerging Markets – Literature Review," Financial Internet Quarterly (formerly e-Finanse), Sciendo, vol. 14(4), pages 67-76, December.
    27. Silvia Miranda-Agrippino & Tsvetelina Nenova, 2021. "A Tale of Two Global Monetary Policies," NBER Chapters, in: NBER International Seminar on Macroeconomics 2021, National Bureau of Economic Research, Inc.
    28. Santiago Camara & Sebastian Ramirez Venegas, 2022. "The Transmission of US Monetary Policy Shocks: The Role of Investment & Financial Heterogeneity," Papers 2209.11150, arXiv.org.
    29. Christian Friedrich & Pierre Guérin, 2016. "The Dynamics of Capital Flow Episodes," Staff Working Papers 16-9, Bank of Canada.
    30. Thomas, Lina, 2023. "The tale of two titans: US and China's distinct impact on the global economy," Finance Research Letters, Elsevier, vol. 58(PC).
    31. Pinchetti, Marco & Szczepaniak, Andrzej, 2021. "Global spillovers of the Fed information effect," Bank of England working papers 952, Bank of England.
    32. Emily Liu & Friederike Niepmann & Tim Schmidt-Eisenlohr, 2019. "The Effect of U.S. Stress Tests on Monetary Policy Spillovers to Emerging Markets," CESifo Working Paper Series 7955, CESifo.
    33. Banerjee, Ryan & Devereux, Michael B. & Lombardo, Giovanni, 2016. "Self-oriented monetary policy, global financial markets and excess volatility of international capital flows," Journal of International Money and Finance, Elsevier, vol. 68(C), pages 275-297.
    34. Ca' Zorzi, Michele & Dedola, Luca & Georgiadis, Georgios & Jarociński, Marek & Stracca, Livio & Strasser, Georg, 2020. "Monetary policy and its transmission in a globalised world," Working Paper Series 2407, European Central Bank.
    35. Jonathan Kearns & Andreas Schrimpf & Dora Xia, 2018. "Explaining Monetary Spillovers: The Matrix Reloaded," BIS Working Papers 757, Bank for International Settlements.
    36. Crespo Cuaresma, Jesus & Doppelhofer, Gernot & Feldkircher, Martin & Huber, Florian, 2018. "Spillovers from US monetary policy: Evidence from a time-varying parameter GVAR model," Working Papers in Economics 2018-6, University of Salzburg.
    37. Potjagailo, Galina, 2017. "Spillover effects from Euro area monetary policy across Europe: A factor-augmented VAR approach," Journal of International Money and Finance, Elsevier, vol. 72(C), pages 127-147.
    38. Wongi Kim & Kyunghun Kim, 2022. "Effect of news and noise shocks of US monetary policy on economic fluctuations in emerging market economies," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 55(4), pages 1862-1893, November.
    39. Rafael Cezar & Eric Monnet, 2021. "Capital Controls and Foreign Reserves against External Shocks: Combined or Alone?," Working papers 849, Banque de France.
    40. Margaux MacDonald & Michal Ksawery Popiel, 2016. "Unconventional Monetary Policy In A Small Open Economy," Working Paper 1367, Economics Department, Queen's University.
    41. Santiago Camara, 2021. "Spillovers of US Interest Rates: Monetary Policy & Information Effects," Papers 2111.08631, arXiv.org, revised Feb 2023.
    42. Ca' Zorzi, Michele & Dedola, Luca & Georgiadis, Georgios & Jarociński, Marek & Stracca, Livio & Strasser, Georg, 2021. "Making waves – Fed spillovers are stronger and more encompassing than the ECB’s," Research Bulletin, European Central Bank, vol. 83.
    43. Juvenal, Luciana & Petrella, Ivan, 2024. "Unveiling the dance of commodity prices and the global financial cycle," Journal of International Economics, Elsevier, vol. 150(C).
    44. Juncal Cunado & David Gabauer & Rangan Gupta & Chien-Chiang Lee, 2022. "On the Propagation Mechanism of International Real Interest Rate Spillovers: Evidence from More than 200 Years of Data," Working Papers 202212, University of Pretoria, Department of Economics.
    45. Yin, Zhichao & Peng, Hongfeng & Xiao, Weiguo & Xiao, Zumian, 2022. "Capital control and monetary policy coordination: Tobin tax revisited," Research in International Business and Finance, Elsevier, vol. 59(C).
    46. Mr. Adrian Alter & Mr. Selim A Elekdag, 2016. "Emerging Market Corporate Leverage and Global Financial Conditions," IMF Working Papers 2016/243, International Monetary Fund.
    47. Patrick Blagrave & Claudia Godbout & Justin-Damien Guénette & René Lalonde & Nikita Perevalov, 2020. "IMPACT: The Bank of Canada’s International Model for Projecting Activity," Technical Reports 116, Bank of Canada.
    48. Camehl, Annika & von Schweinitz, Gregor, 2023. "What explains international interest rate co-movement?," IWH Discussion Papers 3/2023, Halle Institute for Economic Research (IWH), revised 2023.
    49. Florian LALANNE & Irena PERESA & Sophie RIVAUD, 2019. "Portfolio investments and fragility in emerging economies: detection tools [Investissements de portefeuille et fragilisation des pays émergents : des outils de détection]," Bulletin de la Banque de France, Banque de France, issue 226.
    50. Kolasa, Marcin & Wesołowski, Grzegorz, 2020. "International spillovers of quantitative easing," Journal of International Economics, Elsevier, vol. 126(C).
    51. Gai, Prasanna & Tong, Eric, 2022. "Information spillovers of US monetary policy," Journal of Macroeconomics, Elsevier, vol. 72(C).
    52. Magdalena Grothe, 2023. "Monetary Policy Spillovers to Polish Financial Markets," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 2, pages 1-10.
    53. Falk Bräuning & Viacheslav Sheremirov, 2023. "The Transmission Mechanisms of International Business Cycles: International Trade and the Foreign Effects of US Monetary Policy," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 71(1), pages 300-325, March.
    54. Broos, Menno & Ghalanos, Michalis & Kennedy, Bernard & Landbeck, Alexander & Lerner, Christina & Menezes, Paula & Schiavone, Alessandro & Tilley, Thomas & Viani, Francesca & Reinhardt, Dennis & Metzem, 2016. "Dealing with large and volatile capital flows and the role of the IMF," Occasional Paper Series 180, European Central Bank.
    55. Horvath, Jaroslav & Zhong, Jiansheng, 2019. "Unemployment dynamics in emerging countries: Monetary policy and external shocks," Economic Modelling, Elsevier, vol. 76(C), pages 31-49.
    56. Walerych, Małgorzata & Wesołowski, Grzegorz, 2021. "Fed and ECB monetary policy spillovers to Emerging Market Economies," Journal of Macroeconomics, Elsevier, vol. 70(C).
    57. Jongrim Ha, 2021. "Financial market spillovers of U.S. monetary policy shocks," Review of International Economics, Wiley Blackwell, vol. 29(5), pages 1221-1274, November.
    58. Jesús Crespo Cuaresma & Gernot Doppelhofer & Martin Feldkircher & Florian Huber, 2019. "Spillovers from US monetary policy: evidence from a time varying parameter global vector auto‐regressive model," Journal of the Royal Statistical Society Series A, Royal Statistical Society, vol. 182(3), pages 831-861, June.
    59. Stann, Carsten M. & Grigoriadis, Theocharis, 2019. "Monetary policy transmission to Russia & Eastern Europe," Discussion Papers 2019/6, Free University Berlin, School of Business & Economics.
    60. Michele Ca’ Zorzi & Luca Dedola & Georgios Georgiadis & Marek Jarocinski & Livio Stracca & Georg Strasser, 2023. "Making Waves: Monetary Policy and Its Asymmetric Transmission in a Globalized World," International Journal of Central Banking, International Journal of Central Banking, vol. 19(2), pages 95-144, June.
    61. Dées, Stéphane & Galesi, Alessandro, 2021. "The Global Financial Cycle and US monetary policy in an interconnected world," Journal of International Money and Finance, Elsevier, vol. 115(C).
    62. Ying Chen & Xiaoqian Shen & Li Wang, 2021. "The Heterogeneity Research of the Impact of EPU on Environmental Pollution: Empirical Evidence Based on 15 Countries," Sustainability, MDPI, vol. 13(8), pages 1-13, April.
    63. Anusha Chari & Karlye Dilts Stedman & Christian Lundblad, 2020. "Capital Flows in Risky Times: Risk-on/Risk-off and Emerging Market Tail Risk," NBER Working Papers 27927, National Bureau of Economic Research, Inc.
    64. Jarociński, Marek, 2022. "Central bank information effects and transatlantic spillovers," Journal of International Economics, Elsevier, vol. 139(C).
    65. Walerych, Małgorzata & Wesołowski, Grzegorz, 2020. "When the Fed sneezes, the whole world catches the cold, when the ECB - only Europe," MPRA Paper 100899, University Library of Munich, Germany.
    66. Patrick Hendy & Benjamin Beckers, 2024. "How Do Global Shocks Affect Australia?," RBA Research Discussion Papers rdp2024-10, Reserve Bank of Australia.
    67. Nihar Shah, 2022. "Doubly heterogeneous monetary spillovers," International Finance, Wiley Blackwell, vol. 25(2), pages 126-150, August.
    68. Luigi Bonatti & Andrea Fracasso & Roberto Tamborini, 2021. "Monetary and Fiscal Spillovers Across the Atlantic: The Role of Financial Markets," DEM Working Papers 2021/09, Department of Economics and Management.
    69. Falk Bräuning & Viacheslav Sheremirov, 2021. "The Transmission Mechanisms of International Business Cycles: Output Spillovers through Trade and Financial Linkages," Working Papers 21-13, Federal Reserve Bank of Boston.
    70. Roevekamp, Ingmar, 2019. "US monetary policy and the pricing of American Depositary Receipts," Finance Research Letters, Elsevier, vol. 29(C), pages 418-424.
    71. Bazot, Guillaume & Monnet, Eric & Morys, Matthias, 2019. "Taming the gobal financial cycle: Central banks and the sterilization of capital flows in the first era of globalization," IBF Paper Series 03-19, IBF – Institut für Bank- und Finanzgeschichte / Institute for Banking and Financial History, Frankfurt am Main.
    72. Thomas, Lina, 2023. "Ripple effect: Disentangling the global impact web of US monetary policy," Finance Research Letters, Elsevier, vol. 58(PB).
    73. James Cloyne & Patrick Hürtgen & Alan M. Taylor, 2022. "Global Monetary and Financial Spillovers: Evidence from a New Measure of Bundesbank Policy Shocks," NBER Working Papers 30485, National Bureau of Economic Research, Inc.
    74. Myunghyun Kim, 2022. "Transmission of U.S. Monetary Policy to Commodity Exporters and Importers," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 43, pages 152-167, January.
    75. Silvia Albrizio & Sangyup Choi & Davide Furceri & Chansik Yoon, 2019. "International Bank Lending Channel of Monetary Policy," IMF Working Papers 2019/234, International Monetary Fund.
    76. Maryam Mirfatah & Vasco J. Gabriel & Paul Levine, 2021. "Imperfect Exchange Rate Pass-through: Empirical Evidence and Monetary Policy Implications," School of Economics Discussion Papers 0321, School of Economics, University of Surrey.
    77. Inoue, Tomoo & Okimoto, Tatsuyoshi, 2022. "International spillover effects of unconventional monetary policies of major central banks," International Review of Financial Analysis, Elsevier, vol. 79(C).
    78. Michael Pfarrhofer & Anna Stelzer, 2019. "High-frequency and heteroskedasticity identification in multicountry models: Revisiting spillovers of monetary shocks," Papers 1912.03158, arXiv.org, revised Dec 2024.
    79. Chen, Yong & Liu, Dingming & Zhuang, Ziguan, 2023. "The spillover effects of China's monetary policy shock: Evidence from B&R countries," Emerging Markets Review, Elsevier, vol. 55(C).
    80. Eterovic, Dalibor & Sweet, Cassandra & Eterovic, Nicolas, 2022. "Asymmetric spillovers in emerging market monetary policy," International Review of Economics & Finance, Elsevier, vol. 82(C), pages 650-662.
    81. Tomoo Inoue & Tatsuyoshi Okimoto, 2022. "How does unconventional monetary policy affect the global financial markets?," Empirical Economics, Springer, vol. 62(3), pages 1013-1036, March.
    82. Max Hanisch, 2017. "US Monetary Policy and the Euro Area," Discussion Papers of DIW Berlin 1701, DIW Berlin, German Institute for Economic Research.
    83. Alejandro Vicondoa, 2017. "Monetary News, U.S. Interest Rate and Business Cycles in Emerging Economies," Documentos de Trabajo 503, Instituto de Economia. Pontificia Universidad Católica de Chile..
    84. Lakdawala, Aeimit, 2018. "The growing impact of US monetary policy on emerging financial markets: Evidence from India," Working Papers 2018-9, Michigan State University, Department of Economics.
    85. Don H. Kim & Marcelo Ochoa, 2021. "International Yield Spillovers," Finance and Economics Discussion Series 2021-001, Board of Governors of the Federal Reserve System (U.S.).
    86. Bonga-Bonga, Lumengo & Mpoha, Salifya, 2024. "Spillover effects from China and the United States to Key Regional Emerging Markets: A dynamic analysis," International Review of Financial Analysis, Elsevier, vol. 91(C).
    87. Dario Caldara & Francesco Ferrante & Matteo Iacoviello & Andrea Prestipino & Albert Queraltó, 2023. "The International Spillovers of Synchronous Monetary Tightening," International Finance Discussion Papers 1384, Board of Governors of the Federal Reserve System (U.S.).
    88. Monnet, Eric & Puy, Damien, 2021. "One Ring to Rule Them All? New Evidence on World Cycles," CEPR Discussion Papers 15958, C.E.P.R. Discussion Papers.
    89. Dahlhaus, Tatjana & Vasishtha, Garima, 2020. "Monetary policy news in the US: Effects on emerging market capital flows," Journal of International Money and Finance, Elsevier, vol. 109(C).
    90. Juvenal, Luciana & Petrella, Ivan, 2024. "Reprint of “Unveiling the dance of commodity prices and the global financial cycle”," Journal of International Economics, Elsevier, vol. 149(C).
    91. Carsten M. Stann & Theocharis N. Grigoriadis, 2020. "Monetary Policy Transmission to Russia and Eastern Europe," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 62(2), pages 303-353, June.
    92. Carlos Caceres & Mr. Yan Carriere-Swallow & Bertrand Gruss, 2016. "Global Financial Conditions and Monetary Policy Autonomy," IMF Working Papers 2016/108, International Monetary Fund.
    93. Hanisch, Max, 2019. "US monetary policy and the euro area," Journal of Banking & Finance, Elsevier, vol. 100(C), pages 77-96.
    94. Monnet, Eric & bazot, guillaume & Morys, Matthias, 2019. "Taming the Global Financial Cycle: Central Banks and the Sterilization of Capital Flows in the First Era of Globalization (1891," CEPR Discussion Papers 13895, C.E.P.R. Discussion Papers.
    95. Gregor Bäurle & Matthias Gubler & Diego R. Känzig, 2017. "International inflation spillovers - the role of different shocks," Working Papers 2017-07, Swiss National Bank.
    96. Hanna Armelius & Christoph Bertsch & Isaiah Hull & Xin Zhang, 2019. "Spread the Word: International Spillovers from Central Bank Communication," BIS Working Papers 824, Bank for International Settlements.
    97. Huang, Yu-Fan & Liao, Wenting & Wang, Taining, 2024. "Does US financial uncertainty spill over through the (asymmetric) international credit channel? The role of market expectations," Journal of International Money and Finance, Elsevier, vol. 148(C).
    98. Iacoviello, Matteo & Navarro, Gaston, 2019. "Foreign effects of higher U.S. interest rates," Journal of International Money and Finance, Elsevier, vol. 95(C), pages 232-250.
    99. Wenni Lei & Dongzhou Mei & Mi Zhang, 2024. "Global Spillovers of China's Monetary Policy," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 32(3), pages 1-30, May.
    100. Demir, Ishak, 2019. "International Spillovers of U.S. Monetary Policy," LEAF Working Paper Series 19-02, University of Lincoln, Lincoln International Business School, Lincoln Economics and Finance Research Group (LEAF).
    101. Cesa Bianchi, Ambrogio & Sokol, Andrej, 2017. "Financial shocks, credit spreads and the international credit channel," Bank of England working papers 693, Bank of England.
    102. Gonzalez-Aguado, Eugenia, 2022. "Interest Rate Shocks and the Composition of Sovereign Debt," TSE Working Papers 22-1379, Toulouse School of Economics (TSE).
    103. Santiago Camara, 2021. "US Spillovers of US Monetary Policy: Information effects & Financial Flows," Papers 2108.01026, arXiv.org, revised May 2024.
    104. Goczek, Łukasz & Witkowski, Bartosz, 2023. "Spillover effects of the unconventional monetary policy of the European Central Bank," The Quarterly Review of Economics and Finance, Elsevier, vol. 89(C), pages 82-104.
    105. Rövekamp, Ingmar, 2019. "US Monetary Policy and the Stability of Currency Pegs," VfS Annual Conference 2019 (Leipzig): 30 Years after the Fall of the Berlin Wall - Democracy and Market Economy 203525, Verein für Socialpolitik / German Economic Association.
    106. Herrala, Risto & Orlandi, Fabrice, 2020. "Win-win? Assessing the global impact of the Chinese economy," BOFIT Discussion Papers 4/2020, Bank of Finland Institute for Emerging Economies (BOFIT).
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    113. Saba Ndayezhin Danladi, 2022. "Spillover Effects of US Monetary Policy and Macreconomic Conditions in Nigeria: Evidence from Time-Varying Parameter Structural Vector Autoregression (TVP-SVAR)," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(2), pages 101-120.
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    121. Annette Meinusch, 2017. "When the Fed sneezes - Spillovers from U.S. Monetary Policy to Emerging Markets," MAGKS Papers on Economics 201730, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    122. Beutel, Johannes & Emter, Lorenz & Metiu, Norbert & Prieto, Esteban & Schüler, Yves, 2022. "The global financial cycle and macroeconomic tail risks," Discussion Papers 43/2022, Deutsche Bundesbank.
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    127. Paul Rudel & Peter Tillmann, 2018. "News Shock Spillovers: How the Euro Area Responds to Expected Fed Policy," MAGKS Papers on Economics 201832, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
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  5. Corsetti, Giancarlo & Dedola, Luca & Jarociński, Marek & Maćkowiak, Bartosz & Schmidt, Sebastian, 2016. "Macroeconomic stabilization, monetary-fiscal interactions, and Europe’s monetary union," Working Paper Series 1988, European Central Bank.

    Cited by:

    1. Athanasios Orphanides, 2020. "The fiscal–monetary policy mix in the euro area: challenges at the zero lower bound," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 35(103), pages 461-517.
    2. Alberto Caruso & Lucrezia Reichlin & Giovanni Ricco, 2019. "Financial and fiscal interaction in the euro area crisis: this time was different," SciencePo Working papers Main hal-03403269, HAL.
    3. Filiani, Pasquale, 2021. "Optimal monetary–fiscal policy in the euro area liquidity crisis," Journal of Macroeconomics, Elsevier, vol. 70(C).
    4. Victor Echevarria-Icaza & Simón Sosvilla-Rivero, 2017. "Yields on sovereign debt, fragmentation and monetary policy transmission in the euro area: A GVAR approach," Working Papers del Instituto Complutense de Estudios Internacionales 1703, Universidad Complutense de Madrid, Instituto Complutense de Estudios Internacionales.
    5. Mackowiak, Bartosz & Jarocinski, Marek, 2017. "Monetary-Fiscal Interactions and the Euro Area's Malaise," CEPR Discussion Papers 12020, C.E.P.R. Discussion Papers.
    6. Lucrezia Reichlin & Giovanni Ricco & Matthieu Tarbé, 2021. "Monetary-Fiscal Crosswinds in the European Monetary Union," SciencePo Working papers Main hal-03474950, HAL.
    7. Jarociński, Marek & Maćkowiak, Bartosz, 2017. "Monetary-fiscal interactions and the euro area’s vulnerability," Research Bulletin, European Central Bank, vol. 36.
    8. Francesco Spadafora, 2020. "Completing the Economic and Monetary Union: Wisdom Come Late?," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 6(3), pages 379-409, November.
    9. Philip Arestis, 2019. "The past and future of the euro," Revista de Economia Critica, Asociacion de Economia Critica, vol. 27, pages 6-15.
    10. Chigozie Nelson Nkalu & Chike Cletus Agu, 2023. "Fiscal Policy and Economic Stabilization Dynamics in Sub-Saharan Africa: A New Evidence from Panel VEC Model and Hodrick-Prescott Filter Cyclical Decomposition," SAGE Open, , vol. 13(2), pages 21582440231, June.
    11. Bonam, Dennis & Ciccarelli, Matteo & Gomes, Sandra & Aldama, Pierre & Bańkowski, Krzysztof & Buss, Ginters & da Costa, José Cardoso & Christoffel, Kai & Elfsbacka Schmöller, Michaela & Jacquinot, Pasc, 2024. "Challenges for monetary and fiscal policy interactions in the post-pandemic era," Occasional Paper Series 337, European Central Bank.
    12. Atanas Pekanov, 2018. "The New View on Fiscal Policy and its Implications for the European Monetary Union," WIFO Working Papers 562, WIFO.
    13. Plamen Nikolov & Paolo Pasimeni, 2023. "Fiscal Stabilization in the United States: Lessons for Monetary Unions," Open Economies Review, Springer, vol. 34(1), pages 113-153, February.
    14. Oriola, Hugo, 2023. "Political monetary cycles: An empirical study," European Journal of Political Economy, Elsevier, vol. 79(C).
    15. Bańkowski, Krzysztof & Christoffel, Kai & Faria, Thomas, 2021. "Assessing the fiscal-monetary policy mix in the euro area," Working Paper Series 2623, European Central Bank.
    16. Mr. Helge Berger & Mr. Giovanni Dell'Ariccia & Mr. Maurice Obstfeld, 2018. "Revisiting the Economic Case for Fiscal Union in the Euro Area," IMF Departmental Papers / Policy Papers 2018/003, International Monetary Fund.
    17. Francesco Spadafora, 2019. "European integration in the time of mistrust," Questioni di Economia e Finanza (Occasional Papers) 512, Bank of Italy, Economic Research and International Relations Area.
    18. Ursel Baumann & David Lodge & Mirela S. Miescu, 2024. "Global growth on life support? The contributions of fiscal and monetary policy since the global financial crisis," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 29(1), pages 76-90, January.
    19. Philip Arestis, 2020. "Productivity and inequality in the UK: a political economy perspective," Review of Evolutionary Political Economy, Springer, vol. 1(2), pages 183-197, August.
    20. Debrun, Xavier & Masuch, Klaus & Ferrero, Guiseppe & Vansteenkiste, Isabel & Ferdinandusse, Marien & von Thadden, Leopold & Hauptmeier, Sebastian & Alloza, Mario & Derouen, Chloé & Bańkowski, Krzyszto, 2021. "Monetary-fiscal policy interactions in the euro area," Occasional Paper Series 273, European Central Bank.
    21. Dennis Bonam & Bart Hobijn, 2021. "Generalized Stability of Monetary Unions Under Regime Switching in Monetary and Fiscal Policies," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 53(1), pages 73-94, February.
    22. Paolo Guerrieri & Pier Carlo Padoan, 2023. "I regimi internazionali e l'evoluzione dell'economia globale (International regimes and the evolution of the global economy)," Moneta e Credito, Economia civile, vol. 76(303), pages 235-252.
    23. Xi Wang & Jiayang Li & Guangbin Zhang, 2022. "Mixed Monetary–Fiscal Policies and Macroeconomic Fluctuations: An Analysis Based on the Dynamic Stochastic General Equilibrium Model," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 30(2), pages 167-196, March.
    24. Baumann, Ursel & Lodge, David & Miescu, Mirela S., 2019. "Global growth on life support? The contributions of fiscal and monetary policy since the global financial crisis," Working Paper Series 2248, European Central Bank.
    25. Dat Thanh Nguyen & Viet Anh Hoang, 2020. "Monetary Consequences of Fiscal Stress in a Game Theoretic Framework," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 9(special i), pages 125-164.
    26. Francisco Gomes Pereira, 2023. "Balance Sheet Expansionary Policies in the Euro Area: Macroeconomic Impacts and a Vulnerable versus Non-Vulnerable Comparison - A Bayesian Structural VAR Approach," Working Papers REM 2023/0259, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.

  6. Giancarlo Corsetti & Luca Dedola, 2012. "The "Mystery of the Printing Press" Monetary Policy and Self-fulfilling Debt Crises," Discussion Papers 1424, Centre for Macroeconomics (CFM), revised Aug 2014.

    Cited by:

    1. Athanasios Orphanides, 2020. "The fiscal–monetary policy mix in the euro area: challenges at the zero lower bound," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 35(103), pages 461-517.
    2. Okano Eiji & Masataka Eguchi, 2019. "Optimal Monetary and Fiscal Policy Rules, Welfare Gains and Exogenous Shocks in an Economy with Default Risk," BCAM Working Papers 1902, Birkbeck Centre for Applied Macroeconomics.
    3. Battistini, Niccolò & Callegari, Giovanni & Zavalloni, Luca, 2019. "Dynamic fiscal limits and monetary-fiscal policy interactions," Working Paper Series 2268, European Central Bank.
    4. Candelon, Bertrand & Luisi , Angelo & Roccazzella, Francesco, 2021. "Fragmentation in the European Monetary Union: Is it really over?," LIDAM Discussion Papers LFIN 2021015, Université catholique de Louvain, Louvain Finance (LFIN).
    5. Giancarlo Corsetti & Bartosz Maćkowiak, 2023. "Gambling to Preserve Price (and Fiscal) Stability," RSCAS Working Papers 2022/72, European University Institute.
    6. Eijffinger, Sylvester & Kobielarz, Michal & Uras, Burak, 2018. "Sovereign default, exit and contagion in a monetary union," Other publications TiSEM d1844a19-c4eb-4443-a4c2-5, Tilburg University, School of Economics and Management.
    7. Maximilian Gödl & Jörn Kleinert, 2016. "Interest rate spreads in the eurozone: Fundamentals or sentiments?," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 152(3), pages 449-475, August.
    8. Pierre-Olivier Gourinchas & Philippe Martin & Todd Messer, 2023. "The Economics of Sovereign Debt, Bailouts, and the Eurozone Crisis," IMF Working Papers 2023/177, International Monetary Fund.
    9. Michael Stiefel & Rémi Vivès, 2022. "‘Whatever it takes’ to change belief: evidence from Twitter," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 158(3), pages 715-747, August.
    10. Okano, Eiji & Inagaki, Kazuyuki, 2025. "Understanding the gains from wage flexibility in a currency union: a fiscal policy connection," Macroeconomic Dynamics, Cambridge University Press, vol. 29, pages 1-1, January.
    11. Kris James Mitchener & Gonçalo Pina, 2016. "Pegxit Pressure: Evidence from the Classical Gold Standard," CESifo Working Paper Series 6212, CESifo.
    12. Roch, Francisco & Uhlig, Harald, 2018. "The dynamics of sovereign debt crises and bailouts," Journal of International Economics, Elsevier, vol. 114(C), pages 1-13.
    13. Corsetti, Giancarlo & Müller, Gernot & Kuester, Keith & Meier, André, 2013. "Sovereign risk and belief-driven fluctuations in the euro area," CEPR Discussion Papers 9723, C.E.P.R. Discussion Papers.
    14. Philipp Hartman & Frank Smets, 2018. "The European Central Bank’s Monetary Policy during Its First 20 Years," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 49(2 (Fall)), pages 1-146.
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    17. Wenxin Du & Jesse Schreger, 2014. "Local Currency Sovereign Risk," Working Paper 102321, Harvard University OpenScholar.
    18. Michal Szkup, 2020. "Online Appendix to "Preventing Self-Fulfilling Debt Crises: A Global Games Approach"," Online Appendices 19-127, Review of Economic Dynamics.
    19. Mackowiak, Bartosz & Jarocinski, Marek, 2017. "Monetary-Fiscal Interactions and the Euro Area's Malaise," CEPR Discussion Papers 12020, C.E.P.R. Discussion Papers.
    20. Eijffinger, S.C.W. & Kobielarz, M.L. & Uras, R.B., 2015. "Sovereign Debt, Bail-Outs and Contagion in a Monetary Union," Other publications TiSEM 61f72c67-a909-4581-96fc-a, Tilburg University, School of Economics and Management.
    21. Ricardo Reis, 2016. "Can the Central Bank Alleviate Fiscal Burdens?," NBER Working Papers 23014, National Bureau of Economic Research, Inc.
    22. Caballero, Diego & Lucas, André & Schwaab, Bernd & Zhang, Xin, 2019. "Risk endogeneity at the lender/investor-of-last-resort," Working Paper Series 2225, European Central Bank.
    23. Jing Cheng & Meixing Dai & Frédéric Dufourt, 2014. "Banking and Sovereign Debt Crises in a Monetary Union Without Central Bank Intervention," AMSE Working Papers 1428, Aix-Marseille School of Economics, France, revised Jun 2014.
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    26. Saleem A. Bahaj, 2014. "Systemic Sovereign Risk: Macroeconomic Implications in the Euro Area," Working Papers 191, Oesterreichische Nationalbank (Austrian Central Bank).
    27. Costain, James & Nuño, Galo & Thomas, Carlos, 2024. "The Term Structure of Interest Rates in a Heterogeneous Monetary Union," CEPR Discussion Papers 18736, C.E.P.R. Discussion Papers.
    28. Giancarlo Corsetti & Seung Hyun Maeng, 2020. "Debt crises, fast and slow," Discussion Papers 2019, Centre for Macroeconomics (CFM).
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    32. Galli, Carlo, 2021. "Self-fulfilling debt crises, fiscal policy and investment," Journal of International Economics, Elsevier, vol. 131(C).
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    34. Cristina Arellano & Yan Bai & Gabriel Mihalache, 2019. "Monetary Policy and Sovereign Risk in Emerging Economies (NK-Default)," Department of Economics Working Papers 19-02-rev1, Stony Brook University, Department of Economics.
    35. Guo, Yanling, 2015. "A reconsideration of multiple equilibria in the analysis of one-period government bonds with default risk," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 9, pages 1-52.
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    44. Russell Cooper & Antoine Camous, 2016. ""Whatever it takes" is all you need: monetary policy and debt fragility," 2016 Meeting Papers 863, Society for Economic Dynamics.
    45. Philippe Bacchetta & Elena Perazzi & Eric van Wincoop, 2015. "Self-Fulfilling Debt Crises: Can Monetary Policy Really Help?," Cahiers de Recherches Economiques du Département d'économie 15.06, Université de Lausanne, Faculté des HEC, Département d’économie.
    46. Bonam, Dennis & Ciccarelli, Matteo & Gomes, Sandra & Aldama, Pierre & Bańkowski, Krzysztof & Buss, Ginters & da Costa, José Cardoso & Christoffel, Kai & Elfsbacka Schmöller, Michaela & Jacquinot, Pasc, 2024. "Challenges for monetary and fiscal policy interactions in the post-pandemic era," Occasional Paper Series 337, European Central Bank.
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    51. ,, 2018. "Financial Policy," CEPR Discussion Papers 12755, C.E.P.R. Discussion Papers.
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    67. Miller, Marcus, 2014. "Saving the Euro: self-fulfilling crisis and the ?Draghi Put?," CEPR Discussion Papers 9976, C.E.P.R. Discussion Papers.
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    90. Debrun, Xavier & Masuch, Klaus & Ferrero, Guiseppe & Vansteenkiste, Isabel & Ferdinandusse, Marien & von Thadden, Leopold & Hauptmeier, Sebastian & Alloza, Mario & Derouen, Chloé & Bańkowski, Krzyszto, 2021. "Monetary-fiscal policy interactions in the euro area," Occasional Paper Series 273, European Central Bank.
    91. Peter Spahn, 2016. "Central Bank Design in a Non-optimal Currency Union A Lender of Last Resort for Government Debt?," ROME Working Papers 201610, ROME Network.
    92. Occhino, Filippo, 2017. "The 2012 eurozone crisis and the ECB’s OMT program: A debt-overhang banking and sovereign crisis interpretation," European Economic Review, Elsevier, vol. 100(C), pages 337-363.
    93. Clancy, Daragh & Dunne, Peter G. & Filiani, Pasquale, 2019. "Liquidity and tail-risk interdependencies in the euro area sovereign bond market," Research Technical Papers 11/RT/19, Central Bank of Ireland.
    94. Bacchetta, Philippe & Perazzi, Elena & van Wincoop, Eric, 2018. "Self-fulfilling debt crises: What can monetary policy do?," Journal of International Economics, Elsevier, vol. 110(C), pages 119-134.
    95. Giovanni Callegari & Ramon Marimon & Adrien Wicht & Luca Zavalloni, 2023. "On a Lender of Last Resort with a Central Bank and a Stability Fund," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 50, pages 106-130, October.
    96. Toyofuku, Kenta, 2021. "Unit of account, sovereign debt, and optimal currency area," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 75(C).
    97. Leombroni, Matteo & Vedolin, Andrea & Venter, Gyuri & Whelan, Paul, 2021. "Central bank communication and the yield curve," Journal of Financial Economics, Elsevier, vol. 141(3), pages 860-880.
    98. Jouvanceau, Valentin & Mikaliunaite-Jouvanceau, Ieva, 2023. "ECB monetary communications: Market fragmentation at stake," Economics Letters, Elsevier, vol. 225(C).
    99. Fuertes, Ana-Maria & Kalotychou, Elena & Saka, Orkun, 2014. "ECB Policy and Eurozone Fragility: Was De Grauwe Right?," CEPS Papers 9414, Centre for European Policy Studies.
    100. Cristina Arellano & Gabriel Mihalache & Yan Bai, 2019. "Inflation Targeting with Sovereign Default Risk," 2019 Meeting Papers 239, Society for Economic Dynamics.
    101. Giancarlo Corsetti & Seung Hyun Maeng, 2023. "The Theory of Reserve Accumulation, Revisited," RSCAS Working Papers 2013_53, European University Institute.
    102. Zachary Stangebye, 2016. "Lifetime-Laffer Curves and the Eurozone Crisis," 2016 Meeting Papers 63, Society for Economic Dynamics.
    103. Irina Balteanu & Aitor Erce, 2014. "Bank crises and sovereign defaults in emerging markets: exploring the links," Globalization Institute Working Papers 184, Federal Reserve Bank of Dallas.
    104. Schwaab, Bernd & Eser, Fabian, 2013. "Assessing asset purchases within the ECB’s securities markets programme," Working Paper Series 1587, European Central Bank.
    105. Eser, Fabian & Schwaab, Bernd, 2016. "Evaluating the impact of unconventional monetary policy measures: Empirical evidence from the ECB׳s Securities Markets Programme," Journal of Financial Economics, Elsevier, vol. 119(1), pages 147-167.
    106. Irina Balteanu & Aitor Erce, 2014. "Banking crises and sovereign defaults in emerging markets: exploring the links," Working Papers 1414, Banco de España.
    107. Kindy R. Sjahrir, 2018. "Fiscal Constraints in the Financial System Stability Framework for Indonesian Data," Working Papers in Economics and Development Studies (WoPEDS) 201803, Department of Economics, Padjadjaran University, revised Dec 2018.
    108. Stangebye, Zachary, 2015. "Dynamic Panics: Theory and Application to the Eurozone," MPRA Paper 69967, University Library of Munich, Germany.

  7. Corsetti, Giancarlo & Dedola, Luca & Viani, Francesca, 2011. "The International Risk-Sharing Puzzle is at Business Cycle and Lower Frequency," CEPR Discussion Papers 8355, C.E.P.R. Discussion Papers.

    Cited by:

    1. Giancarlo Corsetti & Luca Dedola & Francesca Viani, 2012. "Traded and Nontraded Goods Prices, and International Risk Sharing: An Empirical Investigation," NBER International Seminar on Macroeconomics, University of Chicago Press, vol. 8(1), pages 403-466.
    2. Bengui, Julien & Mendoza, Enrique G. & Quadrini, Vincenzo, 2013. "Capital mobility and international sharing of cyclical risk," Journal of Monetary Economics, Elsevier, vol. 60(1), pages 42-62.
    3. Gogas, Periklis & Papadimitriou, Theophilos & Plakandaras, Vasilios, 2013. "Public Debt and Private Consumption in OECD countries," DUTH Research Papers in Economics 1-2013, Democritus University of Thrace, Department of Economics, revised 20 Feb 2014.
    4. Kollmann, Robert, 2017. "Explaining International Business Cycle Synchronization: Recursive Preferences and the Terms of Trade Channel," CEPR Discussion Papers 11911, C.E.P.R. Discussion Papers.
    5. Clancy, Daragh & Ricci, Lorenzo, 2022. "Economic sentiments and international risk sharing," International Economics, Elsevier, vol. 169(C), pages 208-229.
    6. Devereux, Michael B. & Kollmann, Robert, 2012. "International Risk Sharing," MPRA Paper 70129, University Library of Munich, Germany.
    7. Pau Rabanal & Juan F. Rubio-Ramirez, 2015. "Can international macroeconomic models explain low-frequency movements of real exchange rates?," Working Papers 1508, BBVA Bank, Economic Research Department.
    8. Arslan, Yavuz & Akkoyun, H. Cagri & Kanik, Birol, 2011. "Housing prices and transaction volume," MPRA Paper 37343, University Library of Munich, Germany, revised 01 Mar 2012.
    9. Trezzi, Riccardo, 2013. "A wavelet analysis of international risk-sharing," Economics Letters, Elsevier, vol. 118(2), pages 330-333.
    10. Predrag Petroviæ, 2016. "Backus–Smith puzzle and the European Union: It’s not just the nominal exchange rate," Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, University of Rijeka, Faculty of Economics and Business, vol. 34(2), pages 393-418.
    11. Aydan Dogan, 2014. "Euro- US Real Exchange Rate Dynamics: How Far Can We Push Equilibrium Models?," Studies in Economics 1409, School of Economics, University of Kent.
    12. Donadelli, Michael & Paradiso, Antonio, 2014. "Does financial integration affect real exchange rate volatility and cross-country equity market returns correlation?," The North American Journal of Economics and Finance, Elsevier, vol. 28(C), pages 206-220.
    13. Chaban, Maxym, 2024. "Exchange rate dynamics and consumption of traded goods," Journal of Macroeconomics, Elsevier, vol. 80(C).
    14. Daragh Clancy & Lorenzo Ricci, 2019. "Loss aversion, economic sentiments and international consumption smoothing," Working Papers 35, European Stability Mechanism.
    15. Robert P. Flood & Nancy P. Marion & Akito Matsumoto, 2012. "International risk sharing during the globalization era," Canadian Journal of Economics, Canadian Economics Association, vol. 45(2), pages 394-416, May.
    16. Jean-François Rouillard, 2013. "International Risk Sharing and Land Dynamics," Cahiers de recherche 13-02, Departement d'économique de l'École de gestion à l'Université de Sherbrooke.
    17. Iwata, Yasuharu, 2013. "Two fiscal policy puzzles revisited: New evidence and an explanation," Journal of International Money and Finance, Elsevier, vol. 33(C), pages 188-207.
    18. Michael Donadelli & Ivan Gufler, 2024. "Economic and financial integration, capital controls, and risk sharing," Economica, London School of Economics and Political Science, vol. 91(364), pages 1482-1520, October.

  8. Giancarlo Corsetti & Luca Dedola & Francesca Viani, 2011. "Traded and Nontraded Goods Prices, and International Risk Sharing: an Empirical Investigation," NBER Working Papers 17501, National Bureau of Economic Research, Inc.

    Cited by:

    1. Giancarlo Corsetti & Luca Dedola & Francesca Viani, 2012. "The international risk sharing puzzle is at business cycle and lower frequency," Canadian Journal of Economics, Canadian Economics Association, vol. 45(2), pages 448-471, May.
    2. Kyriacos Lambrias, 2013. "News Shocks, Real Exchange Rates and International Co-Movements," BCL working papers 83, Central Bank of Luxembourg.
    3. Miyamoto, Wataru & Nguyen, Thuy Lan & Sheremirov, Viacheslav, 2019. "The effects of government spending on real exchange rates: Evidence from military spending panel data," Journal of International Economics, Elsevier, vol. 116(C), pages 144-157.
    4. Yépez, Carlos A., 2019. "Informality and international business cycles," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 62(C), pages 252-263.
    5. Lambrias, Kyriacos, 2016. "Real exchange rates and international co-movement: news-shocks and non-tradable goods with complete markets," Working Paper Series 1946, European Central Bank.
    6. Gancia, Gino & Epifani, Paolo, 2015. "Global Imbalances Revisited: The Transfer Problem and Transport Costs in Monopolistic Competition," CEPR Discussion Papers 11014, C.E.P.R. Discussion Papers.
    7. Mario J. Crucini, 2011. "Comment on "Nontraded Goods Prices, Terms of Trade and International Risk-Sharing: An Empirical Investigation"," NBER Chapters, in: NBER International Seminar on Macroeconomics 2011, pages 470-476, National Bureau of Economic Research, Inc.
    8. A Craig Burnside & Jeremy J Graveline, 2020. "On the Asset Market View of Exchange Rates," The Review of Financial Studies, Society for Financial Studies, vol. 33(1), pages 239-260.
    9. Kyriacos Lambrias, 2019. "Online Appendix to "Real exchange rates and international co-movement: News-shocks and non-tradable goods with complete markets"," Online Appendices 18-211, Review of Economic Dynamics.
    10. Jean-François Rouillard, 2015. "International Risk Sharing and Financial Shocks," Cahiers de recherche 15-13, Departement d'économique de l'École de gestion à l'Université de Sherbrooke.

  9. Roland Straub & Luca Dedola & Giovanni Lombardo, 2011. "Home bias and portfolio dynamics in a multi-country model," 2011 Meeting Papers 1037, Society for Economic Dynamics.

    Cited by:

    1. Juillard Michel, 2011. "Local approximation of DSGE models around the risky steady state," wp.comunite 0087, Department of Communication, University of Teramo.
    2. Yu, Changhua, 2015. "Evaluating international financial integration in a center-periphery economy," Journal of International Economics, Elsevier, vol. 95(1), pages 129-144.

  10. Giancarlo Corsetti & Luca Dedola & Sylvain Leduc, 2010. "Optimal monetary policy in open economies," Working Paper Series 2010-13, Federal Reserve Bank of San Francisco.

    Cited by:

    1. Martin Berka & Michael B. Devereux & Charles Engel, 2014. "Real Exchange Rates and Sectoral Productivity in the Eurozone," NBER Working Papers 20510, National Bureau of Economic Research, Inc.
    2. Ferrero, Andrea & Seneca, Martin, 2018. "Notes on the Underground: Monetary Policy in Resource-Rich Economies," CEPR Discussion Papers 13108, C.E.P.R. Discussion Papers.
    3. Caldara, Dario & Iacoviello, Matteo & Molligo, Patrick & Prestipino, Andrea & Raffo, Andrea, 2020. "The economic effects of trade policy uncertainty," Journal of Monetary Economics, Elsevier, vol. 109(C), pages 38-59.
    4. Shigeto Kitano & Kenya Takaku, 2014. "Monetary Policy, Incomplete Asset Markets, and Welfare in a Small Open Economy," Discussion Paper Series DP2014-39, Research Institute for Economics & Business Administration, Kobe University.
    5. Luca Fornaro, 2018. "International Debt Deleveraging," Journal of the European Economic Association, European Economic Association, vol. 16(5), pages 1394-1432.
    6. Sihao Chen & Michael B. Devereux & Jenny Xu & Kang Shi, 2018. "Exchange Rates, Local Currency Pricing and International Tax Policies," NBER Working Papers 25111, National Bureau of Economic Research, Inc.
    7. Daisuke Ida & Mitsuhiro Okano, 2023. "International heterogeneity of nominal wages and optimal monetary policy," International Finance, Wiley Blackwell, vol. 26(2), pages 112-138, August.
    8. Michael B. Devereux & Charles Engel & Giovanni Lombardo, 2020. "Implementable Rules for International Monetary Policy Coordination," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 68(1), pages 108-162, March.
    9. Eleni Iliopulos, 2015. "Commentaire sur l’article « La coordination entre politique monétaire et politique macroprudentielle. Que disent les modèles DSGE ? »," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-01301343, HAL.
    10. Ehsan U. Choudhri & Dalia S. Hakura, 2014. "The Exchange Rate Pass-Through to Import and Export Prices: The Role of Nominal Rigidities and Currency Choice," Carleton Economic Papers 14-09, Carleton University, Department of Economics.
    11. Anna Lipinska & Bianca De Paoli, 2013. "Capital Controls: a Normative Analysis," 2013 Meeting Papers 861, Society for Economic Dynamics.
    12. Xing Guo & Pablo Ottonello & Diego J. Perez, 2023. "Monetary Policy and Redistribution in Open Economies," Journal of Political Economy Macroeconomics, University of Chicago Press, vol. 1(1), pages 191-241.
    13. Dedola, Luca & Rivolta, Giulia & Stracca, Livio, 2017. "If the Fed sneezes, who catches a cold?," Working Paper Series 2050, European Central Bank.
    14. Rodrigo Caputo & Felipe Leal, 2021. "Optimal Monetary Policy and Incomplete Information: Does the Real Exchange Matter?," Working Papers Central Bank of Chile 916, Central Bank of Chile.
    15. Shang-Jin Wei & Yinxi Xie, 2020. "Monetary Policy in an Era of Global Supply Chains," NBER Working Papers 26602, National Bureau of Economic Research, Inc.
    16. Jalali Naini, Ahmad Reza & Naderian, Mohammad Amin, 2017. "Oil Price Cycles, Fiscal Dominance and Counter-cyclical Monetary Policy in Iran," MPRA Paper 84480, University Library of Munich, Germany.
    17. Masashige Hamano & Francesco Pappadà, 2023. "Exchange Rate Policy and Firm Heterogeneity," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 71(3), pages 759-790, September.
    18. Cacciatore, Matteo & Fiori, Giuseppe & Ghironi, Fabio, 2016. "Market deregulation and optimal monetary policy in a monetary union," Journal of International Economics, Elsevier, vol. 99(C), pages 120-137.
    19. Ryan Chahrour & Vito Cormun & Pierre De Leo & Pablo A. Guerrón-Quintana & Rosen Valchev, 2024. "Exchange Rate Disconnect Revisited," NBER Working Papers 32596, National Bureau of Economic Research, Inc.
    20. Kostas Mavromatis, 2018. "U.S. Monetary Regimes and Optimal Monetary Policy in the Euro Area," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 50(7), pages 1441-1478, October.
    21. Daniele Siena, 2020. "Online Appendix to "The Euro Area Periphery and Imbalances: Is it an Anticipation Story?"," Online Appendices 18-141, Review of Economic Dynamics.
    22. Corsetti, Giancarlo & Bergin, Paul R, 2015. "Beyond Competitive Devaluations: The Monetary Dimensions of Comparative Advantage," CEPR Discussion Papers 10718, C.E.P.R. Discussion Papers.
    23. Ippei Fujiwara & Yuki Teranishi, 2015. "Financal frictions and policy cooperation: a case with monopolistic banking and staggered loan contracts," Globalization Institute Working Papers 237, Federal Reserve Bank of Dallas.
    24. Pierre-Richard Agénor & Enisse Kharroubi & Leonardo Gambacorta & Giovanni Lombardo & Luiz Awazu Pereira da Silva, 2017. "The international dimensions of macroprudential policies," BIS Working Papers 643, Bank for International Settlements.
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    26. Julien Bengui & Louphou Coulibaly, 2022. "Inflation and Capital Flows," NBER Working Papers 30652, National Bureau of Economic Research, Inc.
    27. Candian, Giacomo, 2021. "Central bank transparency, exchange rates, and demand imbalances," Journal of Monetary Economics, Elsevier, vol. 119(C), pages 90-107.
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    31. Christoph Kaufmann, 2016. "Optimal Fiscal Substitutes for the Exchange Rate in a Monetary Union," Working Paper Series in Economics 86, University of Cologne, Department of Economics.
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    35. Gross, Isaac & Hansen, James, 2021. "Optimal policy design in nonlinear DSGE models: An n-order accurate approximation," European Economic Review, Elsevier, vol. 140(C).
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    37. Cristina Arellano & Yan Bai & Gabriel Mihalache, 2019. "Monetary Policy and Sovereign Risk in Emerging Economies (NK-Default)," Department of Economics Working Papers 19-02-rev1, Stony Brook University, Department of Economics.
    38. Rhee, Hyuk Jae & Song, Jeongseok, 2013. "Real wage rigidities and optimal monetary policy in a small open economy," Journal of Macroeconomics, Elsevier, vol. 37(C), pages 110-127.
    39. Corsetti, Giancarlo & Dedola, Luca & Leduc, Sylvain, 2023. "Exchange rate misalignment and external imbalances: what is the optimal monetary policy response?," Working Paper Series 2843, European Central Bank.
    40. Sutherland, Alan & Senay, Ozge, 2016. "Country Portfolios, Collateral Constraints and Optimal Monetary Policy," CEPR Discussion Papers 11499, C.E.P.R. Discussion Papers.
    41. Mariana García-Schmidt & Javier García-Cicco, 2018. "Revisiting the Exchange Rate Pass Through: A General Equilibrium Perspective," BCRA Working Paper Series 201882, Central Bank of Argentina, Economic Research Department.
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    50. Moran, Kevin & Nono, Simplice Aimé, 2018. "Gradual learning about shocks and the forward premium puzzle," Journal of International Money and Finance, Elsevier, vol. 88(C), pages 79-100.
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    52. Christopher Erceg & Andrea Prestipino & Andrea Raffo, 2018. "The Macroeconomic Effect of Trade Policy," 2018 Meeting Papers 221, Society for Economic Dynamics.
    53. André Marine Charlotte & Medina Espidio Sebastián, 2022. "Optimal Robust Monetary Policy in a Small Open Economy," Working Papers 2022-17, Banco de México.
    54. Ghironi, Fabio & Cacciatore, Matteo, 2020. "Trade, Unemployment, and Monetary Policy," CEPR Discussion Papers 14952, C.E.P.R. Discussion Papers.
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    57. Mr. Yan Carriere-Swallow & Mr. Nicolas E Magud & Juan Yepez, 2018. "No Pain, All Gain? Exchange Rate Flexibility and the Expenditure-Switching Effect," IMF Working Papers 2018/213, International Monetary Fund.
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    67. Corsetti, G. & Kuester, K. & Müller, G. J. & Schmidt, S., 2021. "The Exchange Rate Insulation Puzzle," Cambridge Working Papers in Economics 2109, Faculty of Economics, University of Cambridge.
    68. Stefanie Flotho, 2018. "Interaction of fiscal and monetary policy in a monetary union under the zero lower bound constraint," Annals of Operations Research, Springer, vol. 260(1), pages 159-196, January.
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    127. Woon Gyu Choi & Byongju Lee & Taesu Kang & Geun-Young Kim, 2016. "Divergent EME Responses to Global and Domestic Monetary Policy Shocks," Working Papers 2016-15, Economic Research Institute, Bank of Korea.
    128. Forlati, Chiara, 2015. "On the benefits of a monetary union: Does it pay to be bigger?," Journal of International Economics, Elsevier, vol. 97(2), pages 448-463.
    129. Wen Zhang, 2020. "Can trade openness affect the monetary transmission mechanism?," Review of International Economics, Wiley Blackwell, vol. 28(2), pages 341-364, May.
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    131. Cem Gorgun, 2019. "Monetary Unions and National Welfare," Koç University-TUSIAD Economic Research Forum Working Papers 1912, Koc University-TUSIAD Economic Research Forum.
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    135. Zhao, Hong, 2022. "On the impacts of trend inflation in an open economy," Journal of International Economics, Elsevier, vol. 138(C).
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    137. Omar Barbiero, 2021. "The Valuation Effects of Trade," Working Papers 21-11, Federal Reserve Bank of Boston.
    138. Tara Iyer, 2016. "Optimal Monetary Policy in an Open Emerging Market Economy," Working Paper Series WP-2016-6, Federal Reserve Bank of Chicago.
    139. Dudley Cooke, 2012. "Optimal monetary policy in a two country model with firm-level heterogeneity," Globalization Institute Working Papers 104, Federal Reserve Bank of Dallas.
    140. Moez Ben Hassine & Mr. Nooman Rebei, 2019. "Informality, Frictions, and Macroprudential Policy," IMF Working Papers 2019/255, International Monetary Fund.
    141. Bergin, Paul R. & Corsetti, Giancarlo, 2023. "The macroeconomic stabilization of tariff shocks: What is the optimal monetary response?," Journal of International Economics, Elsevier, vol. 143(C).
    142. Pierre M. Picard & Tim Worrall, 2015. "Currency Areas and Voluntary Transfers," DEM Discussion Paper Series 15-12, Department of Economics at the University of Luxembourg.
    143. Shang-Jin Wei & Yinxi Xie, 2022. "On the Wedge Between the PPI and CPI Inflation Indicators," Staff Working Papers 22-5, Bank of Canada.
    144. Alessandro Flamini & Costas Milas, 2014. "Open-economy Distribution Forecast Targeting, Macroeconomic Volatility and Financial Implication," DEM Working Papers Series 080, University of Pavia, Department of Economics and Management.
    145. Timothy Kam & Pere Gomis-Porqueras & Christopher J. Waller, 2013. "Breaking the Kareken and Wallace Indeterminacy Result," ANU Working Papers in Economics and Econometrics 2013-613, Australian National University, College of Business and Economics, School of Economics.
    146. Kashiwagi, Masanori, 2014. "Vehicle currency pricing and its positive welfare consequences under optimal monetary policy," Japan and the World Economy, Elsevier, vol. 30(C), pages 75-85.
    147. Carl Grekou, 2016. "Does the exchange rate regime shape currency misalignments in emerging and developing countries?," EconomiX Working Papers 2016-26, University of Paris Nanterre, EconomiX.
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  11. Giovanni Lombardo & Luca Dedola, 2010. "Financial Frictions, Financial Integration and the International Propagation of Shocks," 2010 Meeting Papers 288, Society for Economic Dynamics.

    Cited by:

    1. Fabrizio Perri & Vincenzo Quadrini, 2011. "International Recessions," NBER Working Papers 17201, National Bureau of Economic Research, Inc.
    2. Bengui, Julien & Mendoza, Enrique G. & Quadrini, Vincenzo, 2013. "Capital mobility and international sharing of cyclical risk," Journal of Monetary Economics, Elsevier, vol. 60(1), pages 42-62.
    3. Philip R. Lane, 2013. "External imbalances and macroeconomic policy," New Zealand Economic Papers, Taylor & Francis Journals, vol. 47(1), pages 53-70, April.
    4. Zeno Enders & Robert Kollmann & Gernot J. Müller, 2011. "Global banking and international business cycles," Globalization Institute Working Papers 72, Federal Reserve Bank of Dallas.
    5. Bacchetta, Philippe & van Wincoop, Eric, 2013. "Sudden spikes in global risk," Journal of International Economics, Elsevier, vol. 89(2), pages 511-521.
    6. Eickmeier, Sandra & Ng, Tim, 2011. "How Do Credit Supply Shocks Propagate Internationally? A GVAR approach," CEPR Discussion Papers 8720, C.E.P.R. Discussion Papers.
    7. Eric van Wincoop, 2011. "International Contagion Through Leveraged Financial Institutions," NBER Working Papers 17686, National Bureau of Economic Research, Inc.
    8. Ohdoi, Ryoji, 2020. "Trade, Growth, and the International Transmission of Financial Shocks," MPRA Paper 100756, University Library of Munich, Germany.
    9. Kalemli-Ozcan, Sebnem & Papaioannou, Elias & Perri, Fabrizio, 2013. "Global banks and crisis transmission," Journal of International Economics, Elsevier, vol. 89(2), pages 495-510.
    10. Kollmann, Robert & Malherbe, Frédéric, 2012. "Financial Contagion: the Role of Banks," MPRA Paper 69888, University Library of Munich, Germany.
    11. Malamud, Semyon & Malkhozov, Aytek, 2016. "Market Integration and Global Crashes," CEPR Discussion Papers 11468, C.E.P.R. Discussion Papers.
    12. Wen Yao, 2012. "International Business Cycles and Financial Frictions," Staff Working Papers 12-19, Bank of Canada.
    13. Dées, Stéphane & Zorell, Nico, 2011. "Business cycle synchronisation: disentangling trade and financial linkages," Working Paper Series 1322, European Central Bank.
    14. Konstantakis, Konstantinos N. & Michaelides, Panayotis G., 2014. "Transmission of the debt crisis: From EU15 to USA or vice versa? A GVAR approach," Journal of Economics and Business, Elsevier, vol. 76(C), pages 115-132.
    15. Emter, Lorenz, 2020. "Leverage Cycles, Growth Shocks, and Sudden Stops in Capital Inflows," Research Technical Papers 06/RT/20, Central Bank of Ireland.
    16. Philip R. Lane, 2011. "External Imbalances and Macroeconomic Policy in New Zealand," The Institute for International Integration Studies Discussion Paper Series iiisdp376, IIIS.

  12. Sylvain Leduc & Luca Dedola & Giancarlo Corsetti, 2009. "Should Monetary Policy React to Current Account Imbalances?," 2009 Meeting Papers 1219, Society for Economic Dynamics.

    Cited by:

    1. Moyen, Stéphane & Stähler, Nikolai & Winkler, Fabian, 2019. "Optimal unemployment insurance and international risk sharing," European Economic Review, Elsevier, vol. 115(C), pages 144-171.

  13. Corsetti, Giancarlo & Dedola, Luca & Leduc, Sylvain, 2008. "The International Dimension of Productivity and Demand Shocks in the US Economy," CEPR Discussion Papers 7003, C.E.P.R. Discussion Papers.

    Cited by:

    1. Laura Alfaro & Alejandro Cuñat & Harald Fadinger & Yanping Liu, 2018. "The Real Exchange Rate, Innovation and Productivity: Heterogeneity, Asymmetries and Hysteresis," NBER Working Papers 24633, National Bureau of Economic Research, Inc.
    2. Giancarlo Corsetti & Luca Dedola & Francesca Viani, 2012. "Traded and Nontraded Goods Prices, and International Risk Sharing: An Empirical Investigation," NBER International Seminar on Macroeconomics, University of Chicago Press, vol. 8(1), pages 403-466.
    3. Guido Baldi & Andre Bodmer, 2018. "Intangible Capital Formation, International Equity Investments, and Output Synchronization," Diskussionsschriften dp1810, Universitaet Bern, Departement Volkswirtschaft.
    4. Chun Jiang & Fan Wu, 2022. "Exchange Rates, Optimization of Industrial Resources Allocation Efficiency, and Environmental Pollution: Evidence from China Manufacturing," Sustainability, MDPI, vol. 14(5), pages 1-19, March.
    5. Laura Alfaro & Alejandro Cuñat & Harald Fadinger & Yanping Liu, 2017. "The Real Exchange Rate, Innovation and Asymmetries and Hysteresis," Harvard Business School Working Papers 18-044, Harvard Business School, revised May 2018.
    6. Engel, Charles & Wang, Jian, 2011. "International trade in durable goods: Understanding volatility, cyclicality, and elasticities," Journal of International Economics, Elsevier, vol. 83(1), pages 37-52, January.
    7. Buzaushina, Almira & Enders, Zeno & Hoffmann, Mathias, 2015. "International financial market integration, asset compositions, and the falling exchange rate pass-through," Discussion Papers 17/2015, Deutsche Bundesbank.
    8. Saeidinezhad, Elham, 2014. "The International Spillover of Fiscal and Technology Shocks before the Crisis: The case of the UK and Italy," MPRA Paper 98556, University Library of Munich, Germany.
    9. Zhen Huo & Andrei A. Levchenko & Nitya Pandalai-Nayar, "undated". "The Global Business Cycle: Measurement and Transmission," Working Papers 669, Research Seminar in International Economics, University of Michigan.
    10. Correa-López, Mónica & de Blas, Beatriz, 2011. "International Transmission of Medium-Term Technology Cycles: Evidence from Spain as a Recipient Country," Working Papers in Economic Theory 2011/09, Universidad Autónoma de Madrid (Spain), Department of Economic Analysis (Economic Theory and Economic History).
    11. Gehrke, Britta & Yao, Fang, 2016. "Persistence and Volatility of Real Exchange Rates: The Role of Supply Shocks Revisited," VfS Annual Conference 2016 (Augsburg): Demographic Change 145752, Verein für Socialpolitik / German Economic Association.
    12. Giancarlo Corsetti & Panagiotis T. Konstantinou, 2012. "What Drives US Foreign Borrowing? Evidence on the External Adjustment to Transitory and Permanent Shocks," American Economic Review, American Economic Association, vol. 102(2), pages 1062-1092, April.
    13. Eleni Iliopulos & Erica Perego & Thepthida Sopraseuth, 2019. "International Business Cycles: Information Matters," Working Papers 2019-03, CEPII research center.
    14. Emre Özçelik & Mustafa Tuğan, 2024. "Terms‐of‐trade effects of productivity shocks in developing economies," Review of International Economics, Wiley Blackwell, vol. 32(4), pages 1587-1606, September.
    15. Sa, Filipa & Wieladek, Tomasz, 2010. "Monetary policy, capital inflows and the housing boom," Bank of England working papers 405, Bank of England.
    16. David Finck & Peter Tillmann, 2022. "The Role of Global and Domestic Shocks for Inflation Dynamics: Evidence from Asia," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 84(5), pages 1181-1208, October.
    17. Huo, Zhen & Levchenko, Andrei A. & Pandalai-Nayar, Nitya, 2023. "Utilization-adjusted TFP across countries: Measurement and implications for international comovement," Journal of International Economics, Elsevier, vol. 146(C).
    18. Pau Rabanal & Juan F. Rubio-Ramirez, 2015. "Can international macroeconomic models explain low-frequency movements of real exchange rates?," Working Papers 1508, BBVA Bank, Economic Research Department.
    19. Szafranek, Karol & Szafrański, Grzegorz & Leszczyńska-Paczesna, Agnieszka, 2024. "Inflation returns. Revisiting the role of external and domestic shocks with Bayesian structural VAR," International Review of Economics & Finance, Elsevier, vol. 93(PA), pages 789-810.
    20. Dorine Boumans & Klaus Gründler & Niklas Potrafke & Fabian Ruthardt, 2022. "Political Leaders and Macroeconomic Expectations: Evidence from a Global Survey Experiment," CESifo Working Paper Series 9974, CESifo.
    21. Andrei A Levchenko & Nitya Pandalai-Nayar, 2020. "Tfp, News, and “Sentiments”: the International Transmission of Business Cycles," Journal of the European Economic Association, European Economic Association, vol. 18(1), pages 302-341.
    22. Dumrongrittikul, Taya & Anderson, Heather M., 2016. "How do shocks to domestic factors affect real exchange rates of Asian developing countries?," Journal of Development Economics, Elsevier, vol. 119(C), pages 67-85.
    23. Mariarosaria Comunale & Davor Kunovac, 2017. "Exchange Rate Pass-Through in the Euro Area," Bank of Lithuania Working Paper Series 38, Bank of Lithuania.
    24. Guido Baldi & André Bodmer, 2017. "Intangible investments and international business cycles," International Economics and Economic Policy, Springer, vol. 14(2), pages 211-219, April.
    25. Paulo Santos Monteiro & Luciana Juvenal, 2012. "Trade and Synchronization in a Multi Country Economy," 2012 Meeting Papers 59, Society for Economic Dynamics.
    26. Marcel Fratzscher & Roland Straub, 2013. "Asset Prices, News Shocks, and the Trade Balance," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 45(7), pages 1211-1251, October.
    27. Karol Szafranek & Aleksandra Hałka, 2019. "Determinants of Low Inflation in an Emerging, Small Open Economy through the Lens of Aggregated and Disaggregated Approach," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 55(13), pages 3094-3111, October.
    28. Ansgar Belke & Steffen Elstner & Svetlana Rujin, 2022. "Growth Prospects and the Trade Balance in Advanced Economies," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 84(5), pages 1209-1234, October.
    29. Harrison, Andre & Reed, Robert R., 2023. "Gross capital inflows, the U.S. economy, and the response of the Federal Reserve," Journal of International Money and Finance, Elsevier, vol. 139(C).
    30. Sara Eugeni, 2019. "Exchange rate volatility and cooperation in an incomplete markets' economy," Department of Economics Working Papers 2019_02, Durham University, Department of Economics.
    31. Nam, Deokwoo & Wang, Jian, 2015. "The effects of surprise and anticipated technology changes on international relative prices and trade," Journal of International Economics, Elsevier, vol. 97(1), pages 162-177.
    32. Gehrke, Britta & Yao, Fang, 2014. "Phillips curve shocks and real exchange rate fluctuations: SVAR evidence," FAU Discussion Papers in Economics 11/2014, Friedrich-Alexander University Erlangen-Nuremberg, Institute for Economics.
    33. Jiang, Shifu, 2017. "The cause of an integral correction mechanism of the real exchange rate," Economics Letters, Elsevier, vol. 161(C), pages 66-70.
    34. Jarociński, Marek & Bobeica, Elena, 2017. "Missing disinflation and missing inflation: the puzzles that aren't," Working Paper Series 2000, European Central Bank.
    35. Emile A. Marin & Sanjay R. Singh, 2023. "Low Risk Sharing with Many Assets," Working Paper Series 2023-37, Federal Reserve Bank of San Francisco.
    36. Werner Roeger & Paul J.J. Welfens, 2021. "Foreign Direct Investment and Innovations: Transmission Dynamics of Persistent Demand and Technology Shocks in a Macro Model," EIIW Discussion paper disbei300, Universitätsbibliothek Wuppertal, University Library.
    37. Jonathan J. Adams & Mr. Philip Barrett, 2017. "Why are Countries’ Asset Portfolios Exposed to Nominal Exchange Rates?," IMF Working Papers 2017/291, International Monetary Fund.
    38. Alfaro, Laura & Cunat, Alejandro & Liu, Yanping & Fadinger, Harald, 2018. "The real exchange rate, innovation and productivity : regional heterogeneity, asymmetries and hysteresis," Working Papers 18-05, University of Mannheim, Department of Economics.
    39. Guerron-Quintana, Pablo A., 2013. "Common and idiosyncratic disturbances in developed small open economies," Journal of International Economics, Elsevier, vol. 90(1), pages 33-49.
    40. Timo Bettendorf, 2017. "Idiosyncratic and international transmission of shocks in the G7: Does EMU matter?," Review of International Economics, Wiley Blackwell, vol. 25(4), pages 856-890, September.
    41. Scholl, Almuth & Müller, Gernot & Enders, Zeno, 2010. "How do Fiscal and Technology Shocks affect Real Exchange Rates? New Evidence for the United States," CEPR Discussion Papers 7732, C.E.P.R. Discussion Papers.
    42. Klein, Mathias & Linnemann, Ludger, 2021. "Real exchange rate and international spillover effects of US technology shocks," Journal of International Economics, Elsevier, vol. 129(C).
    43. Bozhechkova, Alexandra (Божечкова, Александра) & Trunin, Pavel (Трунин, Павел), 2015. "Factor Analysis of the Dynamics of the Real Exchange Rate of the Ruble [Анализ Факторов Динамики Реального Валютного Курса Рубля]," Published Papers mn11, Russian Presidential Academy of National Economy and Public Administration.
    44. David Finck & Peter Tillmann, 2019. "The Role of Global and Domestic Shocks for In flation Dynamics: Evidence from Asia," MAGKS Papers on Economics 201904, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    45. Christiane Baumeister & James D. Hamilton, 2020. "Drawing Conclusions from Structural Vector Autoregressions Identified on the Basis of Sign Restrictions," NBER Working Papers 26606, National Bureau of Economic Research, Inc.
    46. Michael B. Devereux & Gregor W. Smith & James Yetman, 2009. "Consumption and Real Exchange Rates in Professional Forecasts," NBER Working Papers 14795, National Bureau of Economic Research, Inc.
    47. Levchenko, Andrei & Huo, Zhen & Pandalai-Nayar, Nitya, 2019. "International Comovement in the Global Production Network," CEPR Discussion Papers 13796, C.E.P.R. Discussion Papers.
    48. Trunin, Pavel (Трунин, Павел) & Bozhechkova, Alexandra (Божечкова, Александра), 2015. "Analysis of Factors Affecting the Dynamics of the Real Ruble Exchange Rate [Анализ Факторов Динамики Реального Валютного Курса Рубля]," Published Papers mak13, Russian Presidential Academy of National Economy and Public Administration.
    49. Gunes Kamber & Konstantinos Theodoridis & Christoph Thoenissen, 2014. "News-driven business cycles in small open economies," CAMA Working Papers 2014-02, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    50. Van Robays, Ine & Stracca, Livio, 2020. "How much does aggregate demand travel across the Atlantic?," Working Paper Series 2430, European Central Bank.
    51. Gehrke, Britta & Yao, Fang, 2017. "Are supply shocks important for real exchange rates? A fresh view from the frequency-domain," Journal of International Money and Finance, Elsevier, vol. 79(C), pages 99-114.
    52. Caterina Mendicino, 2014. "House prices and expectations," Research Bulletin, European Central Bank, vol. 21, pages 12-15.
    53. Montinari, Letizia & Stracca, Livio, 2016. "Trade, finance or policies: What drives the cross-border spill-over of business cycles?," Journal of Macroeconomics, Elsevier, vol. 49(C), pages 131-148.
    54. Hjortsoe, Ida, 2016. "Imbalances and fiscal policy in a monetary union," Journal of International Economics, Elsevier, vol. 102(C), pages 225-241.
    55. Dumrongrittikul, Taya & Anderson, Heather & Vahid, Farshid, 2019. "The global effects of productivity gains in Asian emerging economies," Economic Modelling, Elsevier, vol. 83(C), pages 127-140.
    56. Laura Alfaro & Alejandro Cuñat & Harald Fadinger & Yanping Liu, 2023. "The Real Exchange Rate, Innovation, and Productivity," Journal of the European Economic Association, European Economic Association, vol. 21(2), pages 637-689.
    57. Andrei Levchenko & Nitya Pandalai Nayar, 2018. "Technology and Non-Technology Shocks: Measurement and Implications for International Comovement," 2018 Meeting Papers 449, Society for Economic Dynamics.
    58. Dorine Boumans & Klaus Gründler & Niklas Potrafke & Fabian Ruthardt, 2021. "The Global Economic Impact of Politicians: Evidence from an International Survey RCT," EconPol Working Paper 56, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    59. Neri, Stefano & Nobili, Andrea & Conti, Antonio M., 2017. "Low inflation and monetary policy in the euro area," Working Paper Series 2005, European Central Bank.
    60. Andrejs Zlobins, 2021. "On the Time-varying Effects of the ECB's Asset Purchases," Working Papers 2021/02, Latvijas Banka.
    61. Paloma Lopez-Garcia & Filippo di Mauro, 2014. "Assessing competitiveness: initial results from the new compnet micro-based database," Research Bulletin, European Central Bank, vol. 21, pages 2-7.
    62. Baumeister, Christiane & Hamilton, James D., 2021. "Reprint: Drawing conclusions from structural vector autoregressions identified on the basis of sign restrictions," Journal of International Money and Finance, Elsevier, vol. 114(C).
    63. Filipa Sá & Tomasz Wieladek, 2015. "Capital Inflows and the U.S. Housing Boom," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 47(S1), pages 221-256, March.
    64. Sebastian Schmidt, 2014. "Dealing with a liquidity trap when government debt matters," Research Bulletin, European Central Bank, vol. 21, pages 8-11.
    65. Dmitriev, Alexandre, 2017. "Composite habits and international transmission of business cycles," Journal of Economic Dynamics and Control, Elsevier, vol. 76(C), pages 1-34.
    66. Andrejs Zlobins, 2020. "ZLB and Beyond: Real and Financial Effects of Low and Negative Interest Rates in the Euro Area," Working Papers 2020/06, Latvijas Banka.
    67. Finck, David & Hoffmann, Mathias & Hürtgen, Patrick, 2023. "On the empirical relevance of the exchange rate as a shock absorber at the zero lower bound," Discussion Papers 10/2023, Deutsche Bundesbank.
    68. Sara Boni & Francesco Ravazzolo, 2022. "A Structural Analysis of Unemployment-Generating Supply Shocks with an Application to the US Pharmaceutical Industry," BEMPS - Bozen Economics & Management Paper Series BEMPS94, Faculty of Economics and Management at the Free University of Bozen.
    69. David Finck & Mathias Hoffmann & Patrick Huertgen, 2022. "On the Empirical Relevance of the Exchange Rate as a Shock Absorber at the Zero Lower Bound," MAGKS Papers on Economics 202234, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).

  14. Giancarlo Corsetti & Luca Dedola & Sylvain Leduc, 2007. "Optimal Monetary Policy and the Sources of Local-Currency Price Stability," NBER Working Papers 13544, National Bureau of Economic Research, Inc.

    Cited by:

    1. Matthieu Bussière & Guillaume Gaulier & Walter Steingress, 2017. "Global Trade Flows: Revisiting the Exchange Rate Elasticities," Staff Working Papers 17-41, Bank of Canada.
    2. Giancarlo Corsetti & Luca Dedola & Sylvain Leduc, 2010. "Optimal monetary policy in open economies," Working Paper Series 2010-13, Federal Reserve Bank of San Francisco.
    3. Corsetti, G. & Crowley, M. & Han, L., 2018. "Invoicing and the Dynamics of Pricing-to-market - Evidence from UK Export Prices around the Brexit Referendum," Cambridge Working Papers in Economics 1860, Faculty of Economics, University of Cambridge.
    4. Ehsan U. Choudhri & Dalia S. Hakura, 2014. "The Exchange Rate Pass-Through to Import and Export Prices: The Role of Nominal Rigidities and Currency Choice," Carleton Economic Papers 14-09, Carleton University, Department of Economics.
    5. Giancarlo Corsetti & Paolo Pesenti, 2005. "The simple geometry of transmission and stabilization in closed and open economies," Staff Reports 209, Federal Reserve Bank of New York.
    6. Giancarlo Corsetti, 2008. "A Modern Reconsideration of the Theory of Optimal Currency Areas," European Economy - Economic Papers 2008 - 2015 308, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    7. Margarida Duarte & Michael Dotsey, 2011. "How Important is the Currency Denomination of Exports in Open Economy Models?," 2011 Meeting Papers 380, Society for Economic Dynamics.
    8. Bussiére, Matthieu & Peltonen, Tuomas, 2008. "Exchange rate pass-through in the global economy: the role of emerging market economies," BOFIT Discussion Papers 25/2008, Bank of Finland Institute for Emerging Economies (BOFIT).
    9. Charles Engel, 2011. "Currency Misalignments and Optimal Monetary Policy: A Reexamination," American Economic Review, American Economic Association, vol. 101(6), pages 2796-2822, October.
    10. David C. López-Valenzuela & Enrique Montes-Uribe & Héctor M. Zárate-Solano & Alvaro Carmona-Duarte, 2019. "Determinantes y evolución entre precios y cantidades de las exportaciones industriales de Colombia: un estudio a partir de un modelo de Panel-VAR," Borradores de Economia 1075, Banco de la Republica de Colombia.
    11. De Paoli, Bianca, 2009. "Monetary policy and welfare in a small open economy," Journal of International Economics, Elsevier, vol. 77(1), pages 11-22, February.
    12. Philippe Jeanfils, 2008. "Imperfect exchange rate pass-through : the role of distribution services and variable demand elasticity," Working Paper Research 135, National Bank of Belgium.
    13. Eiji Okano & Masataka Eguchi & Hiroshi Gunji & Tomomi Miyazaki, 2012. "Optimal Monetary Policy in an Estimated Local Currency Pricing Model," Advances in Econometrics, in: DSGE Models in Macroeconomics: Estimation, Evaluation, and New Developments, pages 39-79, Emerald Group Publishing Limited.
    14. Zahra Sheidaei, 2023. "Firm specific pass through and heterogeneity," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 47(1), pages 142-156, March.
    15. Ganapati Mendali & Sanjukta Das, 2017. "Exchange Rate Pass-through to Domestic Prices," Foreign Trade Review, , vol. 52(3), pages 135-156, August.
    16. Jimborean, R., 2011. "The Exchange Rate Pass-Through in the New EU Member States," Working papers 341, Banque de France.
    17. Aleksandr Eliseev & Anna Novak & Andrey Shulgin, 2023. "Long-Term Exchange Rate Pass-Through to Prices," Russian Journal of Money and Finance, Bank of Russia, vol. 82(2), pages 21-51, June.
    18. Riccardo DiCecio & Edward Nelson, 2009. "Euro membership as a U.K. monetary policy option: results from a structural model," Working Papers 2009-012, Federal Reserve Bank of St. Louis.
    19. Bussière, M. & Delle Chiaie, S. & Peltonen, T. A., 2013. "Exchange Rate Pass-Through in the Global Economy," Working papers 424, Banque de France.
    20. Kristin Forbes, 2016. "Much Ado about Something Important: How do Exchange Rate Movements Affect Inflation?," Manchester School, University of Manchester, vol. 84(S1), pages 15-41, September.

  15. Giancarlo Corsetti & Luca Dedola & Sylvain Leduc, 2007. "Productivity and the dollar," Working Paper Series 2007-27, Federal Reserve Bank of San Francisco.

    Cited by:

    1. Minford, Patrick & Nowell, Eric & Meenagh, David & Sofat, Prakriti, 2005. "Real Exchange Rate Overshooting RBC Style," CEPR Discussion Papers 5029, C.E.P.R. Discussion Papers.

  16. Smets, Frank & Dedola, Luca & Bems, Rudolfs, 2007. "US Imbalances: The Role of Technology and Policy," CEPR Discussion Papers 6110, C.E.P.R. Discussion Papers.

    Cited by:

    1. Nils Holinski & Robert Vermeulen, 2012. "The international wealth channel: a global error-correcting analysis," Empirical Economics, Springer, vol. 43(3), pages 985-1010, December.
    2. Hristov, Nikolay & Hülsewig, Oliver & Wollmershäuser, Timo, 2019. "Capital flows in the euro area and TARGET2 balances," Discussion Papers 24/2019, Deutsche Bundesbank.
    3. Tobias Gruhle & Philipp Harms, 2019. "Producer Services and the Current Account," Working Papers 1906, Gutenberg School of Management and Economics, Johannes Gutenberg-Universität Mainz.
    4. Lucas Papademos, 2007. "The Effects of Globalization on Inflation, Liquidity and Monetary Policy," NBER Chapters, in: International Dimensions of Monetary Policy, pages 593-608, National Bureau of Economic Research, Inc.
    5. Horag Choi & Nelson C. Mark, 2009. "Trending Current Accounts," NBER Working Papers 15244, National Bureau of Economic Research, Inc.
    6. Sa, Filipa & Wieladek, Tomasz, 2010. "Monetary policy, capital inflows and the housing boom," Bank of England working papers 405, Bank of England.
    7. Nishigaki, Hideki, 2009. "How will the related variables change if global imbalances unwind?," Economic Modelling, Elsevier, vol. 26(1), pages 206-212, January.
    8. Cyriac Guillaumin & Jean-Baptiste Gossé, 2012. "Can external shocks explain the Asian side of global imbalances ? Lessons from a structural VAR model with block exogeneity," Post-Print halshs-00706743, HAL.
    9. Holinski, N. & Vermeulen, R., 2009. "The international wealth effect : a global error-correcting analysis," Research Memorandum 019, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
    10. Giancarlo Corsetti & Luca Dedola & Sylvain Leduc, 2006. "Productivity, External Balance and Exchange Rates: Evidence on the Transmission Mechanism Among G7 Countries," NBER Working Papers 12483, National Bureau of Economic Research, Inc.
    11. Sarno, Lucio & Fratzscher, Marcel & Juvenal, Luciana, 2009. "Asset Prices, Exchange Rates and the Current Account," CEPR Discussion Papers 7614, C.E.P.R. Discussion Papers.
    12. Hume, Michael & Sentance, Andrew, 2009. "The global credit boom: Challenges for macroeconomics and policy," Journal of International Money and Finance, Elsevier, vol. 28(8), pages 1426-1461, December.
    13. Alex Mandilaras & Helen Popper, 2009. "Capital Flows, Capitalization, and Openness in Emerging East Asian Economies," Review of International Economics, Wiley Blackwell, vol. 17(4), pages 734-750, September.
    14. Berg, Tim Oliver, 2009. "Cross-country evidence on the relation between equity prices and the current account," IMFS Working Paper Series 22, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    15. P. Jacob & G. Peersman, 2008. "Dissecting the Dynamics of the US Trade Balance in an Estimated Equilibrium Model," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 08/544, Ghent University, Faculty of Economics and Business Administration.
    16. Duncan, Roberto, 2015. "A threshold model of the US current account," Economic Modelling, Elsevier, vol. 48(C), pages 270-280.
    17. Astley, Mark & Giese, Julia & Hume, Michael & Kubelec, Chris, 2009. "Global imbalances and the financial crisis," Bank of England Quarterly Bulletin, Bank of England, vol. 49(3), pages 178-190.
    18. Bettendorf, Timo, 2017. "Investigating Global Imbalances: Empirical evidence from a GVAR approach," Economic Modelling, Elsevier, vol. 64(C), pages 201-210.
    19. Roe, Terry L. & Shane, Mathew & Heerman, Kari, 2011. "Macroeconomic Imbalances in the World Economy," Working Papers 109244, University of Minnesota, Center for International Food and Agricultural Policy.
    20. Fabio C. Bagliano & Claudio Morana, 2010. "The Great Recession: US dynamics and spillovers to the world economy," Working papers 17, Former Department of Economics and Public Finance "G. Prato", University of Torino.
    21. Gete, Pedro, 2009. "Housing Markets and Current Account Dynamics," MPRA Paper 20957, University Library of Munich, Germany, revised 24 Feb 2010.
    22. Massimiliano Pisani & Pietro Cova & Mr. Alessandro Rebucci, 2009. "Global Imbalances: The Role of Emerging Asia," IMF Working Papers 2009/064, International Monetary Fund.
    23. Timmer , Yannick, 2015. "TARGET2 balances and the adjustment of capital flows in the Euro area," European Economic Letters, European Economics Letters Group, vol. 4(1), pages 15-19.
    24. Thierry Bracke & Matthieu Bussière & Michael Fidora & Roland Straub, 2010. "A Framework for Assessing Global Imbalances," The World Economy, Wiley Blackwell, vol. 33(9), pages 1140-1174, September.
    25. Straub, Roland & Barnett, Alina, 2008. "What drives U.S. current account fluctuations?," Working Paper Series 959, European Central Bank.
    26. Fidora, Michael & Bracke, Thierry, 2008. "Global liquidity glut or global savings glut? A structural VAR approach," Working Paper Series 911, European Central Bank.
    27. Giancarlo Corsetti & Luca Dedola & Sylvain Leduc, 2007. "Productivity and the dollar," Working Paper Series 2007-27, Federal Reserve Bank of San Francisco.
    28. Nguyen, Bao & Sum, Dek, 2019. "Macroeconomic Shocks and Trade Balance Adjustments in Papua New Guinea," MPRA Paper 93033, University Library of Munich, Germany.
    29. Bracke, Thierry & Fidora, Michael, 2012. "The macro-financial factors behind the crisis: Global liquidity glut or global savings glut?," The North American Journal of Economics and Finance, Elsevier, vol. 23(2), pages 185-202.
    30. Lin, Winston T. & Chiang, Chung-Yean, 2011. "The impacts of country characteristics upon the value of information technology as measured by productive efficiency," International Journal of Production Economics, Elsevier, vol. 132(1), pages 13-33, July.
    31. N. Nergiz Dincer & Pinar Yasar, 2015. "Identification of Current Account Deficit: The Case of Turkey," The International Trade Journal, Taylor & Francis Journals, vol. 29(1), pages 63-87, March.
    32. Fratzscher, Marcel & Straub, Roland & Saborowski, Christian, 2010. "Monetary Policy Shocks and Portfolio Choice," CEPR Discussion Papers 8099, C.E.P.R. Discussion Papers.
    33. Mr. Alessandro Rebucci & Nicoletta Batini & Pietro Cova & Massimiliano Pisani, 2009. "Global Imbalances: The Role of Non-Tradabletotal Factor Productivity in Advanced Economies," IMF Working Papers 2009/063, International Monetary Fund.
    34. Hideki Nishigaki, 2008. "Are the fiscal and monetary policies of the G-7 countries effective in decreasing the U.S. trade deficit?," Economics Bulletin, AccessEcon, vol. 6(27), pages 1-13.

  17. Giancarlo Corsetti & Luca Dedola & Sylvain Leduc, 2006. "Productivity, External Balance and Exchange Rates: Evidence on the Transmission Mechanism Among G7 Countries," NBER Working Papers 12483, National Bureau of Economic Research, Inc.

    Cited by:

    1. Fabrizio Perri & Jonathan Heathcote, 2007. "The International Diversification Puzzle Is Not as Bad as You Think," Working Papers 2007-3, University of Minnesota, Department of Economics, revised 08 Oct 2007.
    2. Pau Rabanal & Vicente Tuesta, 2013. "Nontradable Goods and the Real Exchange Rate," Open Economies Review, Springer, vol. 24(3), pages 495-535, July.
    3. Nils Holinski & Robert Vermeulen, 2012. "The international wealth channel: a global error-correcting analysis," Empirical Economics, Springer, vol. 43(3), pages 985-1010, December.
    4. Giancarlo Corsetti & Luca Dedola & Francesca Viani, 2012. "Traded and Nontraded Goods Prices, and International Risk Sharing: An Empirical Investigation," NBER International Seminar on Macroeconomics, University of Chicago Press, vol. 8(1), pages 403-466.
    5. Kim, Soyoung & Lee, Jaewoo, 2015. "Imbalances over the Pacific," Journal of Macroeconomics, Elsevier, vol. 45(C), pages 173-185.
    6. Ghironi, Fabio & Lee, Jaewoo & Rebucci, Alessandro, 2015. "The valuation channel of external adjustment," Journal of International Money and Finance, Elsevier, vol. 57(C), pages 86-114.
    7. Buzaushina, Almira & Enders, Zeno & Hoffmann, Mathias, 2015. "International financial market integration, asset compositions, and the falling exchange rate pass-through," Discussion Papers 17/2015, Deutsche Bundesbank.
    8. Saeidinezhad, Elham, 2014. "The International Spillover of Fiscal and Technology Shocks before the Crisis: The case of the UK and Italy," MPRA Paper 98556, University Library of Munich, Germany.
    9. Christopher J. Gust & Nathan Sheets, 2006. "The Adjustment of Global External Imbalances: Does Partial Exchange Rate Pass-Through to Trade Prices Matter?," International Finance Discussion Papers 850, Board of Governors of the Federal Reserve System (U.S.).
    10. Kyriacos Lambrias, 2013. "News Shocks, Real Exchange Rates and International Co-Movements," BCL working papers 83, Central Bank of Luxembourg.
    11. Giancarlo Corsetti & Panagiotis T. Konstantinou, 2012. "What Drives US Foreign Borrowing? Evidence on the External Adjustment to Transitory and Permanent Shocks," American Economic Review, American Economic Association, vol. 102(2), pages 1062-1092, April.
    12. Hamano, Masashige, 2013. "The consumption-real exchange rate anomaly with extensive margins," Journal of International Money and Finance, Elsevier, vol. 36(C), pages 26-46.
    13. Ippei Fujiwara & Naohisa Hirakata, 2009. "Dynamic Aspects of Productivity Spillovers, Terms of Trade, and the “Home Market Effect”," IMF Staff Papers, Palgrave Macmillan, vol. 56(4), pages 958-969, November.
    14. Holinski, N. & Vermeulen, R., 2009. "The international wealth effect : a global error-correcting analysis," Research Memorandum 019, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
    15. Rabitsch, Katrin, 2016. "An incomplete markets explanation of the UIP puzzle," FinMaP-Working Papers 53, Collaborative EU Project FinMaP - Financial Distortions and Macroeconomic Performance: Expectations, Constraints and Interaction of Agents.
    16. Sarno, Lucio & Fratzscher, Marcel & Juvenal, Luciana, 2009. "Asset Prices, Exchange Rates and the Current Account," CEPR Discussion Papers 7614, C.E.P.R. Discussion Papers.
    17. Asdrubali, Pierfederico & Kim, Soyoung & Pericoli, Filippo Maria & Poncela, Pilar, 2023. "Risk sharing channels in OECD countries: A heterogeneous panel VAR approach," Journal of International Money and Finance, Elsevier, vol. 131(C).
    18. Ali, Syed Zahid & Qureshi, Irfan A., 2021. "Anticipated versus unanticipated productivity shocks and hours-worked," International Review of Economics & Finance, Elsevier, vol. 72(C), pages 547-572.
    19. Miyamoto, Wataru & Nguyen, Thuy Lan, 2017. "Understanding the cross-country effects of U.S. technology shocks," Journal of International Economics, Elsevier, vol. 106(C), pages 143-164.
    20. Marcel Fratzscher & Roland Straub, 2013. "Asset Prices, News Shocks, and the Trade Balance," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 45(7), pages 1211-1251, October.
    21. Rafiq, Sohrab, 2013. "Sources of time-varying trade balance and real exchange rate dynamics in East Asia," Journal of the Japanese and International Economies, Elsevier, vol. 29(C), pages 117-141.
    22. Ansgar Belke & Steffen Elstner & Svetlana Rujin, 2022. "Growth Prospects and the Trade Balance in Advanced Economies," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 84(5), pages 1209-1234, October.
    23. Lambrias, Kyriacos, 2016. "Real exchange rates and international co-movement: news-shocks and non-tradable goods with complete markets," Working Paper Series 1946, European Central Bank.
    24. Nam, Deokwoo & Wang, Jian, 2015. "The effects of surprise and anticipated technology changes on international relative prices and trade," Journal of International Economics, Elsevier, vol. 97(1), pages 162-177.
    25. Berg, Tim Oliver, 2009. "Cross-country evidence on the relation between equity prices and the current account," IMFS Working Paper Series 22, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    26. Giancarlo Corsetti & Luca Dedola & Sylvain Leduc, 2014. "The International Dimension Of Productivity And Demand Shocks In The Us Economy," Journal of the European Economic Association, European Economic Association, vol. 12(1), pages 153-176, February.
    27. Smets, Frank & Dedola, Luca & Bems, Rudolfs, 2007. "US Imbalances: The Role of Technology and Policy," CEPR Discussion Papers 6110, C.E.P.R. Discussion Papers.
    28. Konstantinos Chisiridis & Kostas Mouratidis & Theodore Panagiotidis, 2020. "The North-South Divide, the Euro and the Worlds," GreeSE – Hellenic Observatory Papers on Greece and Southeast Europe 147, Hellenic Observatory, LSE.
    29. Famoroti Jonathan Olusegun & Adeleke Omolade, 2022. "Impact of monetary policy transmission mechanism in West African countries," Studia Universitatis „Vasile Goldis” Arad – Economics Series, Sciendo, vol. 32(1), pages 20-42, March.
    30. Predrag Petroviæ, 2016. "Backus–Smith puzzle and the European Union: It’s not just the nominal exchange rate," Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, University of Rijeka, Faculty of Economics and Business, vol. 34(2), pages 393-418.
    31. Thimann, Christian & Fidora, Michael & Engler, Philipp, 2007. "External imbalances and the US current account: how supply-side changes affect an exchange rate adjustment," Working Paper Series 761, European Central Bank.
    32. P. Jacob & G. Peersman, 2008. "Dissecting the Dynamics of the US Trade Balance in an Estimated Equilibrium Model," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 08/544, Ghent University, Faculty of Economics and Business Administration.
    33. Adebayo Augustine Kutu & Harold Ngalawa, 2016. "Monetary Policy Shocks And Industrial Output In Brics Countries," SPOUDAI Journal of Economics and Business, SPOUDAI Journal of Economics and Business, University of Piraeus, vol. 66(3), pages 3-24, July-Sept.
    34. Nikolaychuk Sergiy & Shapovalenko Nadiia, 2013. "The identification of the sources of current account fluctuations in Ukraine," EERC Working Paper Series 13/12e, EERC Research Network, Russia and CIS.
    35. Roni Frish, 2016. "The Real Exchange Rate in the Long Term," Bank of Israel Working Papers 2016.03, Bank of Israel.
    36. Drozd, Lukasz A. & Nosal, Jaromir B., 2010. "Pricing to Market in Business Cycle Models," MPRA Paper 22513, University Library of Munich, Germany.
    37. Scholl, Almuth & Müller, Gernot & Enders, Zeno, 2010. "How do Fiscal and Technology Shocks affect Real Exchange Rates? New Evidence for the United States," CEPR Discussion Papers 7732, C.E.P.R. Discussion Papers.
    38. Joscha Beckmann & Ansgar Belke & Robert Czudaj, 2015. "Productivity Shocks and Real Effective Exchange Rates," Review of Development Economics, Wiley Blackwell, vol. 19(3), pages 502-515, August.
    39. Fratzscher, Marcel & Straub, Roland, 2010. "Asset Prices, News Shocks and the Current Account," CEPR Discussion Papers 8080, C.E.P.R. Discussion Papers.
    40. Corsetti, Giancarlo & Dedola, Luca & Leduc, Sylvain, 2018. "Exchange rate misalignment, capital flows, and optimal monetary policy trade-offs," LSE Research Online Documents on Economics 87290, London School of Economics and Political Science, LSE Library.
    41. Ehsan U. Choudhri & Lawrence L. Schembri, 2010. "Productivity, the Terms of Trade, and the Real Exchange Rate: Balassa-Samuelson Hypothesis Revisited," Carleton Economic Papers 10-06, Carleton University, Department of Economics, revised Nov 2010.
    42. Soyoung Kim & Jaewoo Lee, 2008. "International Macroeconomic Fluctuations: A New Open Economy Macroeconomics Interpretation," Working Papers 232008, Hong Kong Institute for Monetary Research.
    43. Michael B. Devereux & Gregor W. Smith & James Yetman, 2009. "Consumption and Real Exchange Rates in Professional Forecasts," NBER Working Papers 14795, National Bureau of Economic Research, Inc.
    44. Gozgor, Giray, 2018. "Does the structure of employment affect the external imbalances? Theory and evidence," Structural Change and Economic Dynamics, Elsevier, vol. 45(C), pages 77-83.
    45. Kim, Soyoung & Roubini, Nouriel, 2008. "Twin deficit or twin divergence? Fiscal policy, current account, and real exchange rate in the U.S," Journal of International Economics, Elsevier, vol. 74(2), pages 362-383, March.
    46. Hamano, Masashige, 2014. "The Harrod–Balassa–Samuelson effect and endogenous extensive margins," Journal of the Japanese and International Economies, Elsevier, vol. 31(C), pages 98-113.
    47. Massimiliano Pisani & Pietro Cova & Mr. Alessandro Rebucci, 2009. "Global Imbalances: The Role of Emerging Asia," IMF Working Papers 2009/064, International Monetary Fund.
    48. Kyriacos Lambrias, 2019. "Online Appendix to "Real exchange rates and international co-movement: News-shocks and non-tradable goods with complete markets"," Online Appendices 18-211, Review of Economic Dynamics.
    49. Gunes Kamber & Konstantinos Theodoridis & Christoph Thoenissen, 2014. "News-driven business cycles in small open economies," CAMA Working Papers 2014-02, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    50. Marcel Fratzscher, 2008. "US shocks and global exchange rate configurations [‘Micro effects of macro announcements: Real-time price discovery in foreign exchange’]," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 23(54), pages 364-409.
    51. Enders, Zeno & Müller, Gernot J., 2009. "On the international transmission of technology shocks," Journal of International Economics, Elsevier, vol. 78(1), pages 45-59, June.
    52. Giancarlo Corsetti & Luca Dedola & Sylvain Leduc, 2007. "Productivity and the dollar," Working Paper Series 2007-27, Federal Reserve Bank of San Francisco.
    53. Lars Calmfors & Giancarlo Corsetti & Michael P. Devereux & Seppo Honkapohja & Gilles Saint-Paul & Hans-Werner Sinn & Jan-Egbert Sturm & Xavier Vives, 2007. "Chapter 2: Macroeonomic adjustment in the euro area – the cases of Ireland and Italy," EEAG Report on the European Economy, CESifo, vol. 0, pages 59-72, February.
    54. Mr. Alessandro Rebucci & Nicoletta Batini & Pietro Cova & Massimiliano Pisani, 2009. "Global Imbalances: The Role of Non-Tradabletotal Factor Productivity in Advanced Economies," IMF Working Papers 2009/063, International Monetary Fund.
    55. Giampaolo Arachi & Debora Assisi, 2021. "Fiscal devaluation and relative prices: evidence from the Euro area," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 28(3), pages 685-716, June.
    56. Zeno Enders & Gernot J. Mueller, 2006. "S-Curve Redux: On the International Transmission of Technology Shocks," Economics Working Papers ECO2006/36, European University Institute.
    57. Lars Calmfors & Giancarlo Corsetti & Michael P. Devereux & Gilles Saint-Paul & Hans-Werner Sinn & Jan-Egbert Sturm & Xavier Vives, 2008. "Chapter 2: How much real dollar depreciation is needed to correct global imbalances?," EEAG Report on the European Economy, CESifo, vol. 0, pages 61-70, February.

  18. Corsetti, Giancarlo & Dedola, Luca & Leduc, Sylvain, 2005. "DSGE Models of High Exchange-Rate Volatility and Low Pass-Through," CEPR Discussion Papers 5377, C.E.P.R. Discussion Papers.

    Cited by:

    1. Crowley, Meredith A. & Corsetti, Giancarlo & Han, Lu & Song, Huasheng, 2019. "Markets and Markup: A New Empirical Framework and Evidence on Exporters from China," CEPR Discussion Papers 13904, C.E.P.R. Discussion Papers.
    2. Fischer, Andreas & Sauré, Philip, 2016. "The speed of the exchange rate pass-through," CEPR Discussion Papers 11195, C.E.P.R. Discussion Papers.
    3. Corsetti, Giancarlo & Dedola, Luca & Leduc, Sylvain, 2005. "DSGE Models of High Exchange-Rate Volatility and Low Pass-Through," CEPR Discussion Papers 5377, C.E.P.R. Discussion Papers.
    4. Meixing DAI & Moïse SIDIROPOULOS & Eleftherios Spyromitros, 2009. "Monetary policy transparency and inflation persistence in a small open economy," Working Papers of BETA 2009-08, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    5. Yilmazkuday, Hakan, 2019. "Estimating the trade elasticity over time," Economics Letters, Elsevier, vol. 183(C), pages 1-1.
    6. Michael Dotsey & Margarida Duarte, 2006. "Nontraded goods, market segmentation, and exchange rates," Working Paper 06-03, Federal Reserve Bank of Richmond.
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    Cited by:

    1. Totzek, Alexander, 2009. "Firms' heterogeneity, endogenous entry, and exit decisions," Economics Working Papers 2009-11, Christian-Albrechts-University of Kiel, Department of Economics.
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  21. Giancarlo Corsetti & Luca Dedola, 2004. "Exchange-rate fluctuations and pass-through," 2004 Meeting Papers 495, Society for Economic Dynamics.

    Cited by:

    1. Jose Manuel Campa & Linda S. Goldberg & Jose M. Gonzalez-Minguez, 2005. "Exchange rate pass-through to import prices in the Euro area," Staff Reports 219, Federal Reserve Bank of New York.
    2. Goldberg, Linda S. & Campa, Jose M., 2006. "Distribution margins, imported inputs, and the insensitivity of the CPI to exchange rates," IESE Research Papers D/625, IESE Business School.
    3. Raphael A. Auer, 2015. "Exchange Rate Pass‐Through, Domestic Competition, and Inflation: Evidence from the 2005–08 Revaluation of the Renminbi," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 47(8), pages 1617-1650, December.
    4. Corsetti, Giancarlo & Dedola, Luca, 2003. "Macroeconomics of International Price Discrimination," CEPR Discussion Papers 3710, C.E.P.R. Discussion Papers.
    5. Anna Laura Baraldi & Christian Rojas, 2011. "Cost Pass-Through with Network Externalities," International Journal of Business and Economics, School of Management Development, Feng Chia University, Taichung, Taiwan, vol. 10(3), pages 177-199, December.

  22. Luca Dedola & Eugenio Gaiotti & Luca Silipo, 2004. "Money Demand in theEuroArea: Do National Differences Matter?," Macroeconomics 0404019, University Library of Munich, Germany, revised 24 Apr 2004.

    Cited by:

    1. Focarelli, Dario, 2005. "Bootstrap bias-correction procedure in estimating long-run relationships from dynamic panels, with an application to money demand in the euro area," Economic Modelling, Elsevier, vol. 22(2), pages 305-325, March.
    2. Jung, Alexander & Carcel Villanova, Hector, 2020. "The empirical properties of euro area M3, 1980-2017," The Quarterly Review of Economics and Finance, Elsevier, vol. 77(C), pages 37-49.
    3. Oliver Holtemöller, 2004. "A monetary vector error correction model of the Euro area and implications for monetary policy," Empirical Economics, Springer, vol. 29(3), pages 553-574, September.
    4. Clemens Kool & Erik de Regt & Tom van Veen, 2013. "Money Overhang, Credit Overhang and Financial Imbalances in the Euro Area," CESifo Working Paper Series 4476, CESifo.
    5. Columba, Francesco, 2009. "Narrow money and transaction technology: new disaggregated evidence," MPRA Paper 12689, University Library of Munich, Germany.
    6. Alberto Baffigi & Roberto Golinelli & Giuseppe Parigi, 2002. "Real-time GDP forecasting in the euro area," Temi di discussione (Economic working papers) 456, Bank of Italy, Economic Research and International Relations Area.
    7. Ansgar Belke & Robert Czudaj, 2010. "Is Euro Area Money Demand (Still) Stable?: Cointegrated VAR versus Single Equation Techniques," Discussion Papers of DIW Berlin 982, DIW Berlin, German Institute for Economic Research.
    8. Fabiani, Silvia & Morgan, Julian, 2003. "Aggregation and euro area Phillips curves," Working Paper Series 213, European Central Bank.
    9. Bruggeman, Annick & Donati, Paola & Warne, Anders, 2003. "Is the demand for euro area M3 stable?," Working Paper Series 255, European Central Bank.
    10. Kai Carstensen & Jan Hagen & Oliver Hossfeld & Abelardo Salazar Neaves, 2008. "Money Demand Stability and Inflation Prediction in the Four Largest EMU Countries," ifo Working Paper Series 61, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    11. Francesco Columba, 2003. "Transaction Technology Innovation and Demand for Overnight Deposits in Italy," Temi di discussione (Economic working papers) 468, Bank of Italy, Economic Research and International Relations Area.
    12. Reimers, Hans-Eggert, 2002. "Analysing Divisia Aggregates for the Euro Area," Discussion Paper Series 1: Economic Studies 2002,13, Deutsche Bundesbank.
    13. Tödter, Karl-Heinz, 2002. "Monetary indicators and policy rules in the P-star model," Discussion Paper Series 1: Economic Studies 2002,18, Deutsche Bundesbank.
    14. de Bondt, Gabe, 2009. "Euro area money demand: empirical evidence on the role of equity and labour markets," Working Paper Series 1086, European Central Bank.
    15. Sanvi Avouyi-Dovi & Françoise Drumetz & Jean-Guillaume Sahuc, 2007. "The money demand function for the Euro area: one step beyond," Documents de recherche 07-08, Centre d'Études des Politiques Économiques (EPEE), Université d'Evry Val d'Essonne.
    16. Hans-Eggert Reimers, 2003. "Does Money Include Information for Output in the Euro Area?," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 139(II), pages 231-252, June.
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    18. Sanvi Avouyi-Dovi & Françoise Drumetz & Jean-Guillaume Sahuc, 2012. "The Money Demand Function For The Euro Area: Some Empirical Evidence," Bulletin of Economic Research, Wiley Blackwell, vol. 64(3), pages 377-392, July.
    19. Mr. Joaquim Vieira Ferreira Levy & Mr. Alessandro Calza & Mr. Dieter Gerdesmeier, 2001. "Euro Area Money Demand: Measuring the Opportunity Costs Appropriately," IMF Working Papers 2001/179, International Monetary Fund.
    20. Arnold, Ivo J.M. & Roelands, Sebastian, 2010. "The demand for euros," Journal of Macroeconomics, Elsevier, vol. 32(2), pages 674-684, June.
    21. Gabe J. De Bondt, 2010. "New Evidence On The Motives For Holding Euro Area Money," Manchester School, University of Manchester, vol. 78(3), pages 259-278, June.
    22. Giacomo Sbrana, 2008. "On the use of area-wide models in the Euro-zone," Statistical Methods & Applications, Springer;Società Italiana di Statistica, vol. 17(4), pages 499-518, October.
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    25. Brand, Claus & Gerdesmeier, Dieter & Roffia, Barbara, 2002. "Estimating the trend of M3 income velocity underlying the reference value for monetary growth," Occasional Paper Series 3, European Central Bank.
    26. Ivo J. M. Arnold, 2022. "Monetary overhang in times of covid: evidence from the euro area," Applied Economics, Taylor & Francis Journals, vol. 54(35), pages 4030-4042, July.
    27. Jan in 't Veld & Werner Roeger, 2012. "Evaluating the Macroeconomic Effects of Government Support Measures to Financial Institutions in the EU," European Economy - Economic Papers 2008 - 2015 453, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    28. Reimers Hans-Eggert, 2003. "Does Money Include Information for Prices in the Euro Area? / Enthält Geld Informationen für die Preisentwicklung im Eurowährungsgebiet?," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 223(5), pages 581-602, October.
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    Cited by:

    1. Crowley, Meredith A. & Corsetti, Giancarlo & Han, Lu & Song, Huasheng, 2019. "Markets and Markup: A New Empirical Framework and Evidence on Exporters from China," CEPR Discussion Papers 13904, C.E.P.R. Discussion Papers.
    2. Corsetti, Giancarlo & Dedola, Luca & Leduc, Sylvain, 2005. "DSGE Models of High Exchange-Rate Volatility and Low Pass-Through," CEPR Discussion Papers 5377, C.E.P.R. Discussion Papers.
    3. Crozet, Matthieu & Hinz, Julian & Trionfetti, Federico, 2023. "Exchange rate pass-around," Kiel Working Papers 2247, Kiel Institute for the World Economy (IfW Kiel).
    4. Patureau, Lise & Poilly, Céline, 2019. "Reforms and the real exchange rate: The role of pricing-to-market," Journal of International Economics, Elsevier, vol. 119(C), pages 150-168.
    5. Breinlich, Holger & Leromain, Elsa & Novy, Dennis & Sampson, Thomas, 2019. "Exchange Rates and Consumer Prices: Evidence from Brexit," CAGE Online Working Paper Series 447, Competitive Advantage in the Global Economy (CAGE).
    6. Ester Faia & Tommaso Monacelli, 2008. "Optimal Monetary Policy in a Small Open Economy with Home Bias," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 40(4), pages 721-750, June.
    7. Ivanic, Maros & Martin, William J., 2010. "Promoting global agricultural growth and poverty reduction," 114th Seminar, April 15-16, 2010, Berlin, Germany 61098, European Association of Agricultural Economists.
    8. Michael Dotsey & Margarida Duarte, 2006. "Nontraded goods, market segmentation, and exchange rates," Working Paper 06-03, Federal Reserve Bank of Richmond.
    9. Giancarlo Corsetti & Luca Dedola & Francesca Viani, 2012. "Traded and Nontraded Goods Prices, and International Risk Sharing: An Empirical Investigation," NBER International Seminar on Macroeconomics, University of Chicago Press, vol. 8(1), pages 403-466.
    10. Matthieu Bussière & Guillaume Gaulier & Walter Steingress, 2017. "Global Trade Flows: Revisiting the Exchange Rate Elasticities," Staff Working Papers 17-41, Bank of Canada.
    11. Stephane Dees & Matthias Burgert & Nicolas Parent, 2008. "Import Price Dynamics in Major Advanced Economies and Heterogeneity in Exchange Rate Pass-Through," Staff Working Papers 08-39, Bank of Canada.
    12. Giancarlo Corsetti & Luca Dedola & Sylvain Leduc, 2010. "Optimal monetary policy in open economies," Working Paper Series 2010-13, Federal Reserve Bank of San Francisco.
    13. Choudhri, Ehsan U. & Hakura, Dalia S., 2015. "The exchange rate pass-through to import and export prices: The role of nominal rigidities and currency choice," Journal of International Money and Finance, Elsevier, vol. 51(C), pages 1-25.
    14. Ha,Jongrim & Stocker,Marc & Yilmazkuday,Hakan, 2019. "Inflation and Exchange Rate Pass-Through," Policy Research Working Paper Series 8780, The World Bank.
    15. Bergin, Paul R. & Glick, Reuven, 2007. "Global price dispersion: Are prices converging or diverging?," Journal of International Money and Finance, Elsevier, vol. 26(5), pages 703-729, September.
    16. Drenik, Andrés & Perez, Diego J., 2021. "Domestic price dollarization in emerging economies," Journal of Monetary Economics, Elsevier, vol. 122(C), pages 38-55.
    17. Oxana Babetskaia-Kukharchuk, 2007. "Transmission of Exchange Rate Shocks into Domestic Inflation: The Case of the Czech Republic," Working Papers 2007/12, Czech National Bank.
    18. Giancarlo Corsetti & Luca Dedola & Francesca Viani, 2012. "The international risk sharing puzzle is at business cycle and lower frequency," Canadian Journal of Economics, Canadian Economics Association, vol. 45(2), pages 448-471, May.
    19. Alfonso Irarrazabal & Andreas Moxnes & Luca David Opromolla, 2013. "The Tip of the Iceberg: A Quantitative Framework for Estimating Trade Costs," NBER Working Papers 19236, National Bureau of Economic Research, Inc.
    20. Christian Dreger & Konstantin Kholodilin & Kirsten Lommatzsch & Jiri Slacalek & Przemyslaw Wozniak, 2007. "Price Convergence in the Enlarged Internal Market," Discussion Papers of DIW Berlin 730, DIW Berlin, German Institute for Economic Research.
    21. Lombardo, Giovanni & Ravenna, Federico, 2012. "The size of the tradable and non-tradable sectors: Evidence from input–output tables for 25 countries," Economics Letters, Elsevier, vol. 116(3), pages 558-561.
    22. Emi Nakamura & Dawit Zerom, 2009. "Accounting for Incomplete Pass-Through," NBER Working Papers 15255, National Bureau of Economic Research, Inc.
    23. Giancarlo Corsetti & Paolo Pesenti, 2005. "The simple geometry of transmission and stabilization in closed and open economies," Staff Reports 209, Federal Reserve Bank of New York.
    24. Giancarlo Corsetti, 2008. "A Modern Reconsideration of the Theory of Optimal Currency Areas," European Economy - Economic Papers 2008 - 2015 308, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    25. Lindé, Jesper & Pescatori, Andrea, 2018. "The Macroeconomic Effects of Trade Tariffs: Revisiting the Lerner Symmetry Result," Working Paper Series 363, Sveriges Riksbank (Central Bank of Sweden).
    26. Giancarlo Corsetti & Luca Dedola & Sylvain Leduc, 2007. "Optimal Monetary Policy and the Sources of Local-Currency Price Stability," RSCAS Working Papers 2007/26, European University Institute.
    27. Olayeni, Olaolu Richard & Tiwari, Aviral Kumar & Wohar, Mark E., 2020. "Global economic activity, crude oil price and production, stock market behaviour and the Nigeria-US exchange rate," Energy Economics, Elsevier, vol. 92(C).
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    32. Jordi Galí & Tommaso Monacelli, 2015. "Understanding the Gains from Wage Flexibility: The Exchange Rate Connection," Working Papers 746, Barcelona School of Economics.
    33. Arpita Chatterjee & Rafael Dix-Carneiro & Jade Vichyanond, 2012. "Multi-Product Firms and Exchange Rate Fluctuations," Discussion Papers 2012-29, School of Economics, The University of New South Wales.
    34. Kollmann, Robert, 2003. "Monetary Policy Rules in an Interdependent World," CEPR Discussion Papers 4012, C.E.P.R. Discussion Papers.
    35. Nicolas Berman, 2009. "Financial Crises and International Trade: The Long Way to Recovery," Economics Working Papers ECO2009/23, European University Institute.
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    37. Jeffrey A. Frankel & David C. Parsley & Shang-Jin Wei, 2005. "Slow Passthrough Around the World: A New Import for Developing Countries?," NBER Working Papers 11199, National Bureau of Economic Research, Inc.
    38. Corbo, Vesna & Di Casola, Paola, 2020. "Drivers of consumer prices and exchange rates in small open economies," Working Paper Series 387, Sveriges Riksbank (Central Bank of Sweden).
    39. Giancarlo Corsetti & Luca Dedola & Sylvain Leduc, 2005. "International risk-sharing and the transmission of productivity shocks," International Finance Discussion Papers 826, Board of Governors of the Federal Reserve System (U.S.).
    40. Mr. Benjamin L Hunt, 2005. "Oil Price Shocks: Can they Account for the Stagflation in the 1970's?," IMF Working Papers 2005/215, International Monetary Fund.
    41. Snober Fazal & Muhammad Azhar Bhatti & Tusawar Iftikhar Ahmad, 2019. "Sectorial growth, Exchange rate and Fiscal policy in Developing Economies: The Interlinkages," iRASD Journal of Economics, International Research Alliance for Sustainable Development (iRASD), vol. 1(2), pages 68-81, December.
    42. Richard Fabling & Lynda Sanderson, 2013. "Export performance, invoice currency, and heterogeneous exchange rate pass-through," Treasury Working Paper Series 13/03, New Zealand Treasury.
    43. Hellerstein, Rebecca & Villas-Boas, Sofia B., 2010. "Outsourcing and pass-through," Journal of International Economics, Elsevier, vol. 81(2), pages 170-183, July.
    44. Corsetti, Giancarlo, 2016. "Comments on “Obstfeld and Rogoff׳s international macro puzzles: a quantitative assessment” by J. Eaton, S. Kortum and B. Neiman," Journal of Economic Dynamics and Control, Elsevier, vol. 72(C), pages 24-28.
    45. Alan Asprilla & Nicolas Berman & Olivier Cadot & Mélise Jaud, 2019. "Trade Policy And Market Power: Firm‐Level Evidence," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 60(4), pages 1647-1673, November.
    46. Margarida Duarte & Michael Dotsey, 2011. "How Important is the Currency Denomination of Exports in Open Economy Models?," 2011 Meeting Papers 380, Society for Economic Dynamics.
    47. Mr. Hamid Faruqee & Ms. Dalia S Hakura & Ehsan U. Choudhri, 2002. "Explaining the Exchange Rate Pass-Through in Different Prices," IMF Working Papers 2002/224, International Monetary Fund.
    48. Pesenti, Paolo & Corsetti, Giancarlo, 2002. "International Dimensions of Optimal Monetary Policy," CEPR Discussion Papers 3349, C.E.P.R. Discussion Papers.
    49. Filippo Altissimo & Pierpaolo Benigno & Diego Palenzuela, 2011. "Inflation Differentials in a Currency Area: Facts, Explanations and Policy," Open Economies Review, Springer, vol. 22(2), pages 189-233, April.
    50. Rahul Giri, 2010. "Local Costs of Distribution, International Trade Costs and Micro Evidence on the Law of One Price," Working Papers 1001, Centro de Investigacion Economica, ITAM.
    51. Lanz, Rainer & Piermartini, Roberta, 2018. "Specialization within global value chains: The role of additive transport costs," WTO Staff Working Papers ERSD-2018-05, World Trade Organization (WTO), Economic Research and Statistics Division.
    52. Eichenbaum, Martin & Rebelo, Sérgio & Burnside, Craig, 2003. "Government Finance in the Wake of Currency Crises," CEPR Discussion Papers 3939, C.E.P.R. Discussion Papers.
    53. Dudley Cooke, 2019. "Consumer Search, Incomplete Exchange Rate Pass‐Through, and Optimal Interest Rate Policy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 51(2-3), pages 455-484, March.
    54. Giancarlo Corsetti, 2007. "New Open Economy Macroeconomics," RSCAS Working Papers 2007/27, European University Institute.
    55. Canzoneri, Matthew B. & Cumby, Robert E. & Diba, Behzad T., 2005. "The need for international policy coordination: what's old, what's new, what's yet to come?," Journal of International Economics, Elsevier, vol. 66(2), pages 363-384, July.
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    57. Berka, Martin, 2005. "General Equilibrium Model of Arbitrage Trade and Real Exchange Rate Persistence," MPRA Paper 234, University Library of Munich, Germany.
    58. Andrew Atkeson & Ariel Burstein, 2007. "Pricing-to-market, trade costs, and international relative prices," Working Paper Series 2007-26, Federal Reserve Bank of San Francisco.
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    Cited by:

    1. Przemek Kowalski & Wojciech Paczynski & Lukasz Rawdanowicz, 2003. "Exchange rate regimes and the real sector: a sectoral analysis of CEE Countries," Post-Communist Economies, Taylor & Francis Journals, vol. 15(4), pages 533-555.

  25. Luca Dedola & Sylvain Leduc, 2001. "Why Is the Business-Cycle Behavior of Fundamentals Alike Across Exchange-Rate Regimes?," Working Papers 53, Oesterreichische Nationalbank (Austrian Central Bank).

    Cited by:

    1. Ethan Ilzetzki & Carmen M. Reinhart & Kenneth S. Rogoff, 2017. "The Country Chronologies to Exchange Rate Arrangements into the 21st Century: Will the Anchor Currency Hold?," NBER Working Papers 23135, National Bureau of Economic Research, Inc.
    2. Corsetti, Giancarlo & Dedola, Luca & Leduc, Sylvain, 2005. "DSGE Models of High Exchange-Rate Volatility and Low Pass-Through," CEPR Discussion Papers 5377, C.E.P.R. Discussion Papers.
    3. Kollmann, Robert, 2003. "Monetary Policy Rules in an Interdependent World," CEPR Discussion Papers 4012, C.E.P.R. Discussion Papers.
    4. Daniel Stavarek & Cynthia Miglietti, 2014. "Effective Exchange Rates in Central and Eastern European Countries: Cyclicality and Relationship with Macroeconomic Fundamentals," MENDELU Working Papers in Business and Economics 2014-49, Mendel University in Brno, Faculty of Business and Economics.
    5. Stavarek, Daniel, 2013. "Cyclical relationship between exchange rates and macro-fundamentals in Central and Eastern Europe," MPRA Paper 45327, University Library of Munich, Germany.
    6. Philipp Wegmueller, 2014. "Floating or fixed exchange rates: The role of government size," Diskussionsschriften dp1404, Universitaet Bern, Departement Volkswirtschaft.
    7. Kollmann, Robert, 2002. "Monetary Policy Rules in the Open Economy: Effects on Welfare and Business Cycles," CEPR Discussion Papers 3279, C.E.P.R. Discussion Papers.
    8. Riccardo Cristadoro & Andrea Gerali & Stefano Neri & Massimiliano Pisani, 2008. "Real exchange rate volatility and disconnect: an empirical investigation," Temi di discussione (Economic working papers) 660, Bank of Italy, Economic Research and International Relations Area.
    9. Theptida Sopraseuth, 2003. "Exchange Rate Regimes and International Business Cycles," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 6(2), pages 338-361, April.
    10. Marco Riguzzi & Philipp Wegmueller, 2015. "Economic Openness and Fiscal Multipliers," Diskussionsschriften dp1504, Universitaet Bern, Departement Volkswirtschaft.
    11. Carmen M. Reinhart & Kenneth S. Rogoff, 2004. "The Modern History of Exchange Rate Arrangements: A Reinterpretation," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 119(1), pages 1-48.
    12. Lorenzo Burlon & Alessandro Notarpietro & Massimiliano Pisani, 2018. "Exchange rate pass-through into euro area inflation. An estimated structural model," Temi di discussione (Economic working papers) 1192, Bank of Italy, Economic Research and International Relations Area.
    13. Riccardo Cristadoro & Mario Forni & Lucrezia Reichlin & Giovanni Veronese, 2001. "A core inflation index for the euro area," Temi di discussione (Economic working papers) 435, Bank of Italy, Economic Research and International Relations Area.
    14. Kollmann, Robert, 2005. "Macroeconomic effects of nominal exchange rate regimes: new insights into the role of price dynamics," Journal of International Money and Finance, Elsevier, vol. 24(2), pages 275-292, March.
    15. Calderon, Cesar & Kubota, Megumi, 2009. "Does higher openness cause more real exchange rate volatility ?," Policy Research Working Paper Series 4896, The World Bank.
    16. Alessandro Cantelmo & Pietro Cova & Alessandro Notarpietro & Massimiliano Pisani, 2022. "Make-up strategies and exchange rate pass-through in a low-interest-rate environment," Temi di discussione (Economic working papers) 1398, Bank of Italy, Economic Research and International Relations Area.
    17. Kollmann, Robert, 2002. "Monetary Policy Rules in a Two-Country World," MPRA Paper 70347, University Library of Munich, Germany.
    18. Riccardo Cristadoro & Andrea Gerali & Stefano Neri & Massimiliano Pisani, 2006. "Nominal Rigidities in an Estimated Two Country," Computing in Economics and Finance 2006 162, Society for Computational Economics.

  26. Luca Dedola & Francesco Lippi, 2000. "The Monetary Transmission Mechanism: Evidence from the Industry Data of Five OECD Countries," Econometric Society World Congress 2000 Contributed Papers 1833, Econometric Society.

    Cited by:

    1. Libero Monteforte, 2004. "Aggregation bias in macro models: does it matter foir the euro area?," Temi di discussione (Economic working papers) 534, Bank of Italy, Economic Research and International Relations Area.
    2. de Groot, Oliver & Hauptmeier, Sebastian & Holm-Hadulla, Fédéric & Nikalexi, Katerina, 2020. "Monetary policy and regional inequality," Working Paper Series 2385, European Central Bank.
    3. Abdul Karim, Zulkefly & Zaidi, Mohd Azlan Shah & Karim, Bakri, 2011. "Does Firm-Level Equity Return Respond to Domestic and International Monetary Policy Shocks? A Panel Data Study of Malaysia," Jurnal Ekonomi Malaysia, Faculty of Economics and Business, Universiti Kebangsaan Malaysia, vol. 45, pages 21-31.
    4. Halil D. Kaya, 2021. "The Impact Of Business Conditions On Retailers And Wholesalers: Does Leverage Matter?," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 4, pages 72-83, August.
    5. Patrick Lünnemann & Thomas Mathä, 2002. "Monetary transmission: empirical evidence from Luxembourg firm-level data," BCL working papers 5, Central Bank of Luxembourg.
    6. BOUAKEZ, Hafed & CARDIA Emanuela & RUGE-MURCIA, Francisco, 2005. "The Transmission of Monetary Policy in a Multi-Sector Economy," Cahiers de recherche 2005-16, Universite de Montreal, Departement de sciences economiques.
    7. Jérôme Héricourt & Iuliana Matei, 2007. "Transmission de la politique monétaire dans les pays d'Europe Centrale et Orientale : que savons-nous vraiment ?," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00515124, HAL.
    8. Ikechukwu Kelikume, 2015. "Interest Rate And Credit Sensitivity Of Sectoral Output In Nigeria," The International Journal of Business and Finance Research, The Institute for Business and Finance Research, vol. 9(4), pages 103-114.
    9. Vespignani, Joaquin L. & Ratti, Ronald A., 2013. "International monetary transmission to the Euro area: Evidence from the U.S., Japan and China," MPRA Paper 49707, University Library of Munich, Germany.
    10. Karanassou, Marika & Sala, Hector & Snower, Dennis J., 2007. "The Evolution of Inflation and Unemployment: Explaining the Roaring Nineties," IZA Discussion Papers 2900, Institute of Labor Economics (IZA).
    11. Coricelli, Fabrizio & Égert, Balázs & MacDonald, Ronald, 2006. "Monetary transmission mechanism in Central and Eastern Europe: gliding on a wind of change," BOFIT Discussion Papers 8/2006, Bank of Finland Institute for Emerging Economies (BOFIT).
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    13. Antoine Mandel & Vipin Veetil, 2021. "Monetary dynamics in a network economy," PSE-Ecole d'économie de Paris (Postprint) halshs-03165773, HAL.
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    Cited by:

    1. Saadet Kasman & Duygu Ayhan, 2006. "Macroeconomic Volatility under Alternative Exchange Rate Regimes in Turkey," Central Bank Review, Research and Monetary Policy Department, Central Bank of the Republic of Turkey, vol. 6(2), pages 37-58.
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    3. Michael B. Devereux, 2004. "Exchange Rate Policy and Endogenous Price Flexibility," Working Papers 202004, Hong Kong Institute for Monetary Research.
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Articles

  1. Giancarlo Corsetti & Luca Dedola & Sylvain Leduc, 2014. "The International Dimension Of Productivity And Demand Shocks In The Us Economy," Journal of the European Economic Association, European Economic Association, vol. 12(1), pages 153-176, February.
    See citations under working paper version above.
  2. Dedola, Luca & Karadi, Peter & Lombardo, Giovanni, 2013. "Global implications of national unconventional policies," Journal of Monetary Economics, Elsevier, vol. 60(1), pages 66-85.

    Cited by:

    1. Keshab Raj Bhattarai, 2016. "Economic Growth and Development in India and SAARC Countries," EcoMod2016 9631, EcoMod.
    2. Philipp Kirchner & Benjamin Schwanebeck, 2017. "Optimal Unconventional Monetary Policy in the Face of Shadow Banking," MAGKS Papers on Economics 201725, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    3. Lim, G.C. & McNelis, Paul D., 2018. "Unconventional monetary and fiscal policies in interconnected economies: Do policy rules matter?," Journal of Economic Dynamics and Control, Elsevier, vol. 93(C), pages 346-363.
    4. Kiendrebeogo, Youssouf, 2016. "Unconventional monetary policy and capital flows," Economic Modelling, Elsevier, vol. 54(C), pages 412-424.
    5. Ozhan, Galip Kemal, 2021. "News-driven international credit cycles," Journal of Macroeconomics, Elsevier, vol. 70(C).
    6. Rolan Mnatsakanyan, 2024. "The impact of reserve requirements on macroeconomic and financial stability in a small open economy," SN Business & Economics, Springer, vol. 4(12), pages 1-38, December.
    7. Darracq Pariès, Matthieu & Kok, Christoffer & Rancoita, Elena, 2019. "Macroprudential policy in a monetary union with cross-border banking," Working Paper Series 2260, European Central Bank.
    8. Nicole Aregger & Jessica Leutert, 2023. "Countering Appreciation Pressure with Unconventional Monetary Policy: The Role of Financial Frictions," International Journal of Central Banking, International Journal of Central Banking, vol. 19(4), pages 251-337, October.
    9. Hajek, Jan & Horvath, Roman, 2018. "International spillovers of (un)conventional monetary policy: The effect of the ECB and the US Fed on non-euro EU countries," Economic Systems, Elsevier, vol. 42(1), pages 91-105.
    10. Meradj Morteza Pouraghdam, 2016. "Three essays on the role of frictions in the economy [Trois essais sur le rôle du désaccord en économie]," SciencePo Working papers Main tel-03498781, HAL.
    11. Stéphane Auray & Aurélien Eyquem & Xiaofei Ma, 2018. "Banks, Sovereign Risk and Unconventional Monetary Policies," Working Papers halshs-01942734, HAL.
    12. Jae Shim, 2016. "Financial Frictions in the Small Open Economy," Department of Economics Working Papers 50/16, University of Bath, Department of Economics.
    13. Pierre-Richard Agénor & Enisse Kharroubi & Leonardo Gambacorta & Giovanni Lombardo & Luiz Awazu Pereira da Silva, 2017. "The international dimensions of macroprudential policies," BIS Working Papers 643, Bank for International Settlements.
    14. Poutineau, Jean-Christophe & Vermandel, Gauthier, 2015. "Cross-border banking flows spillovers in the Eurozone: Evidence from an estimated DSGE model," Journal of Economic Dynamics and Control, Elsevier, vol. 51(C), pages 378-403.
    15. Gregor Boehl & Gavin Goy & Felix Strobel, 2024. "A Structural Investigation of Quantitative Easing," The Review of Economics and Statistics, MIT Press, vol. 106(4), pages 1028-1044, July.
    16. Gelain, Paolo & Ilbas, Pelin, 2017. "Monetary and macroprudential policies in an estimated model with financial intermediation," Journal of Economic Dynamics and Control, Elsevier, vol. 78(C), pages 164-189.
    17. Klara Halova & Roman Horvath, 2015. "International Spillovers of ECB’s Unconventional Monetary Policy: The Effect on Central and Eastern Europe," Working Papers 351, Leibniz Institut für Ost- und Südosteuropaforschung (Institute for East and Southeast European Studies).
    18. Johnson, Christopher P., 2021. "International shadow banking and prudential capital controls," Journal of International Money and Finance, Elsevier, vol. 119(C).
    19. Banerjee, Ryan & Devereux, Michael B. & Lombardo, Giovanni, 2016. "Self-oriented monetary policy, global financial markets and excess volatility of international capital flows," Journal of International Money and Finance, Elsevier, vol. 68(C), pages 275-297.
    20. Huixin Bi & Nora Traum, 2022. "Unconventional Monetary Policy and Local Fiscal Policy," Research Working Paper RWP 22-15, Federal Reserve Bank of Kansas City.
    21. Cao, Qingqing & Minetti, Raoul & Olivero, María Pía & Romanini, Giacomo, 2021. "Recessions and recoveries: Multinational banks in the business cycle," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 203-219.
    22. Cœuré, Benoît, 2016. "The internationalisation of monetary policy," Journal of International Money and Finance, Elsevier, vol. 67(C), pages 8-12.
    23. Ca' Zorzi, Michele & Dedola, Luca & Georgiadis, Georgios & Jarociński, Marek & Stracca, Livio & Strasser, Georg, 2020. "Monetary policy and its transmission in a globalised world," Working Paper Series 2407, European Central Bank.
    24. Kim, Duhyeong, 2023. "International effects of quantitative easing and foreign exchange intervention," Journal of International Economics, Elsevier, vol. 145(C).
    25. Rabitsch, Katrin & Stepanchuk, Serhiy & Tsyrennikov, Viktor, 2014. "International Portfolios: A Comparison of Solution Methods," Department of Economics Working Paper Series 159, WU Vienna University of Economics and Business.
    26. Francesco Furlanetto & Paolo Gelain & Marzie Taheri Sanjani, 2020. "Online Appendix to "Output Gap, Monetary Policy Trade-offs, and Financial Frictions"," Online Appendices 20-29, Review of Economic Dynamics.
    27. Nicolas Debarsy & Cyrille Dossougoin & Cem Ertur & Jean-Yves Gnabo, 2018. "Measuring sovereign risk spillovers and assessing the role of transmission channels: A spatial econometrics approach," Post-Print hal-01744629, HAL.
    28. Dubois, Corinne, 2021. "Deposit insurance and financial integration in the Eurozone: A DSGE model," Economics Letters, Elsevier, vol. 207(C).
    29. Ahmet Faruk Aysan & Salih Fendoglu & Mustafa Kilinc, 2014. "Managing Short-Term Capital Flows in New Central Banking: Unconventional Monetary Policy Framework in Turkey," Working Papers 1403, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    30. Serdar Kabaca & Kerem Tuzcuoglu, 2022. "International Transmission of Quantitative Easing Policies: Evidence from Canada," Staff Working Papers 22-30, Bank of Canada.
    31. Carattini, Stefano & Kim, Giseong & Melkadze, Givi & Pommeret, Aude, 2024. "Carbon taxes and tariffs, financial frictions, and international spillovers," European Economic Review, Elsevier, vol. 170(C).
    32. Jakob Palek & Benjamin Schwanebeck, 2015. "Optimal Monetary and Macroprudential Policy in a Currency Union," MAGKS Papers on Economics 201522, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    33. Mr. Ruy Lama & Mr. Pau Rabanal, 2012. "Deciding to Enter a Monetary Union: TheRole of Trade and Financial Linkages," IMF Working Papers 2012/240, International Monetary Fund.
    34. McNelis, Paul D., 2016. "Optimal policy rules at home, crisis and quantitative easing abroad," BOFIT Discussion Papers 15/2016, Bank of Finland Institute for Emerging Economies (BOFIT).
    35. Christiaan Kwaak & Sweder Wijnbergen, 2017. "Sovereign debt and bank fragility in Spain," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 153(3), pages 511-543, August.
    36. Fornaro, Luca & Grosse Steffen, Christoph, 2024. "Fragmented Monetary Unions," CEPR Discussion Papers 19171, C.E.P.R. Discussion Papers.
    37. Cenedese, Gino & Elard, Ilaf, 2018. "Unconventional monetary policy and the portfolio choice of international mutual funds," Bank of England working papers 705, Bank of England.
    38. Ozhan, Galip Kemal, 2020. "Financial intermediation, resource allocation, and macroeconomic interdependence," Journal of Monetary Economics, Elsevier, vol. 115(C), pages 265-278.
    39. Keshab Raj Bhattarai & Sushanta K. Mallick, 2015. "Macroeconomic policy coordination in the global economy: VAR and BVAR-DSGE analyses," EcoMod2015 8610, EcoMod.
    40. Diniz, Andre & Guimaraes, Bernardo, 2017. "How diabolic is the sovereign-bank loop? The effects of post-default fiscal policies," LSE Research Online Documents on Economics 86169, London School of Economics and Political Science, LSE Library.
    41. Andreas Beyer & Benoît Coeuré & Caterina Mendicino, 2017. "Foreword – The crisis, ten years after: Lessons learnt for monetary and financial research," Economie et Statistique / Economics and Statistics, Institut National de la Statistique et des Etudes Economiques (INSEE), issue 494-495-4, pages 45-64.
    42. Philipp Kirchner, 2020. "On shadow banking and fiÂ…nancial frictions in DSGE modeling," MAGKS Papers on Economics 202019, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    43. Thibaud Cargoet & Jean-Christophe Poutineau, 2018. "Financial Disruption and State Dependant Credit Policy," Post-Print halshs-01683785, HAL.
    44. Céspedes, Luis Felipe & Chang, Roberto & Velasco, Andrés, 2017. "Financial intermediation, real exchange rates, and unconventional policies in an open economy," Journal of International Economics, Elsevier, vol. 108(S1), pages 76-86.
    45. Nuguer Victoria, 2015. "Financial Intermediation in a Global Environment," Working Papers 2015-05, Banco de México.
    46. Marius Clemens & Stefan Gebauer & Tobias König, 2020. "The Macroeconomic Effects of a European Deposit (Re-) Insurance Scheme," Discussion Papers of DIW Berlin 1873, DIW Berlin, German Institute for Economic Research.
    47. Massimo Minesso Ferrari, 2020. "The Real Effects of Endogenous Defaults on the Interbank Market," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 6(3), pages 411-439, November.
    48. Nicole Aregger & Jessica Leutert, 2017. "Unconventional Monetary Policy under Appreciation Pressure - The Role of Financial Frictions," Working Papers 17.03, Swiss National Bank, Study Center Gerzensee.
    49. Roman Horvath & Klara Voslarova, 2017. "International spillovers of ECB’s unconventional monetary policy: the effect on Central Europe," Applied Economics, Taylor & Francis Journals, vol. 49(24), pages 2352-2364, May.
    50. Guilherme Bandeira, 2018. "Fiscal transfers in a monetary union with sovereign risk," Working Papers 1807, Banco de España.
    51. Michael B. Devereux & Charles Engel & Steve Pak Yeung Wu, 2023. "Collateral Advantage: Exchange Rates, Capital Flows and Global Cycles," NBER Working Papers 31164, National Bureau of Economic Research, Inc.
    52. Jelena Zivanovic, 2021. "An Optimal Macroprudential Policy Mix for Segmented Credit Markets," Staff Working Papers 21-31, Bank of Canada.
    53. Francesco Furlanetto & Paolo Gelain & Marzie Taheri Sanjani, 2017. "Output gap, monetary policy trade-offs and financial frictions," Working Paper 2017/8, Norges Bank.
    54. Fendoğlu, Salih, 2014. "Optimal monetary policy rules, financial amplification, and uncertain business cycles," Journal of Economic Dynamics and Control, Elsevier, vol. 46(C), pages 271-305.
    55. Kühl, Michael, 2014. "Mitigating financial stress in a bank-financed economy: Equity injections into banks or purchases of assets?," Discussion Papers 19/2014, Deutsche Bundesbank.
    56. Acurio Vásconez, Verónica & Damette, Olivier & Shanafelt, David W., 2023. "Macroepidemics and unconventional monetary policy," Economic Modelling, Elsevier, vol. 126(C).
    57. Gete, Pedro & Tiernan, Natalie, 2014. "Lending Standards and Countercyclical Capital Requirements under Imperfect Information," MPRA Paper 54486, University Library of Munich, Germany.
    58. Steven Wei Ho & Ji Zhang & Hao Zhou, 2014. "Hot money and quantitative easing: the spillover effect of U.S. monetary policy on Chinese housing, equity and loan markets," Globalization Institute Working Papers 211, Federal Reserve Bank of Dallas.
    59. Dario Caldara & Francesco Ferrante & Matteo Iacoviello & Andrea Prestipino & Albert Queraltó, 2023. "The International Spillovers of Synchronous Monetary Tightening," International Finance Discussion Papers 1384, Board of Governors of the Federal Reserve System (U.S.).
    60. Leslie Sheng Shen, 2021. "Global Banking and Firm Financing: A Double Adverse Selection Channel of International Transmission," International Finance Discussion Papers 1325, Board of Governors of the Federal Reserve System (U.S.).
    61. Andrei Polbin & Sergey Drobyshevsky, 2014. "Developing a Dynamic Stochastic Model of General Equilibrium for the Russian Economy," Research Paper Series, Gaidar Institute for Economic Policy, issue 166P, pages 156-156.
    62. Falter, Alexander, 2019. "Macro to the rescue? An analysis of macroprudential instruments to regulate housing credit," Discussion Papers 25/2019, Deutsche Bundesbank.
    63. Marek Lubiński, 2015. "Efekty ponadgraniczne niekonwencjonalnej polityki monetarnej," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 6, pages 5-28.
    64. Elton Beqiraj & Giovanni Di Bartolomeo & Marco Di Pietro & Carolina Serpieri, 2017. "Resilience, crisis contagion, and vulnerability in Central Europe and the Baltics," JRC Research Reports JRC109632, Joint Research Centre.
    65. Yahong Zhang, 2015. "Household Debt, Financial Intermediation, and Monetary Policy," Working Papers 1504, University of Windsor, Department of Economics.
    66. Josef Hollmayr & Michael Kuehl, 2016. "Imperfect Information about Financial Frictions and Consequences for the Business Cycle," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 22, pages 179-207, October.
    67. Semih Emre Cekin & Menelik S. Geremew & Hardik Marfatia, 2019. "Monetary policy co-movement and spillover of shocks among BRICS economies," Applied Economics Letters, Taylor & Francis Journals, vol. 26(15), pages 1253-1263, September.
    68. Wei Wei, 2020. "The Spillover Effects of U.S. Monetary Policy on the Chinese Stock Market," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 10(1), pages 1-3.
    69. Harrison, Andre & Reed, Robert R., 2023. "International capital flows, liquidity risk, and monetary policy," Journal of Macroeconomics, Elsevier, vol. 77(C).
    70. Jelena Zivanovic, 2019. "Corporate Debt Composition and Business Cycles," Staff Working Papers 19-5, Bank of Canada.
    71. Kirchner Philipp, 2020. "On Shadow Banking and Financial Frictions in DSGE Modeling," Review of Economics, De Gruyter, vol. 71(2), pages 101-133, August.
    72. Stefano Carattini & Giseong Kim & Givi Melkadze & Aude Pommeret, 2023. "Carbon Taxes and Tariffs, Financial Frictions, and International Spillovers," CESifo Working Paper Series 10851, CESifo.
    73. Krenz, Johanna, 2023. "Financial integration and international shock transmission: The terms-of-trade effect," WiSo-HH Working Paper Series 80, University of Hamburg, Faculty of Business, Economics and Social Sciences, WISO Research Laboratory.
    74. Yu, Wenbo, 2024. "Consumption, exchange rate, and external adjustment during a crisis," Journal of International Economics, Elsevier, vol. 151(C).
    75. Philipp Kirchner & Benjamin Schwanebeck, 2020. "Shadow banking and the design of macroprudential policy in a monetary union," MAGKS Papers on Economics 202024, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    76. McNelis, Paul D. & Yoshino, Naoyuki, 2016. "Finding stability in a time of prolonged crisis: Unconventional policy rules for Japan," Journal of Financial Stability, Elsevier, vol. 27(C), pages 122-136.
    77. Matthieu Darracq-Pariès & Niki Papadopoulou, 2020. "Balance Sheet Policies in a Large Currency Union: A Primer on ECB Non-Standard Measures since 2014," Revue d'économie politique, Dalloz, vol. 130(2), pages 171-230.
    78. Andre Diniz & Bernardo Guimaraes, 2014. "Financial Disruption as a Cost of Sovereign Default: a quantative assessment," Discussion Papers 1427, Centre for Macroeconomics (CFM).
    79. Verónica Acurio Vásconez & Olivier Damette & David W. Shanafelt, 2021. "Macroepidemics and unconventional monetary policy: Coupling macroeconomics and epidemiology in a financial DSGE-SIR framework," Working Papers of BETA 2021-04, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    80. Ugwu Ephraim & Ehinomen Christopher, 2024. "Macroeconomic Policy Coordination and Economic Growth Uncertainty in West Africa," Folia Oeconomica Stetinensia, Sciendo, vol. 24(1), pages 203-226.
    81. Benjamin Schwanebeck, 2017. "Unconventional Monetary Policy in a Financially Heterogeneous Monetary Union," MAGKS Papers on Economics 201741, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    82. Cargoët, Thibaud & Poutineau, Jean-Christophe, 2018. "Financial disruption and state dependent credit policy," Economic Modelling, Elsevier, vol. 68(C), pages 249-272.
    83. Beqiraj, Elton & Di Bartolomeo, Giovanni & Di Pietro, Marco & Serpieri, Carolina, 2018. "Comparing Central Europe and the Baltic macro-economies: A Bayesian approach," EconStor Preprints 175242, ZBW - Leibniz Information Centre for Economics.

  3. Giancarlo Corsetti & Luca Dedola & Francesca Viani, 2012. "The international risk sharing puzzle is at business cycle and lower frequency," Canadian Journal of Economics, Canadian Economics Association, vol. 45(2), pages 448-471, May.
    See citations under working paper version above.
  4. Giancarlo Corsetti & Luca Dedola & Francesca Viani, 2012. "Traded and Nontraded Goods Prices, and International Risk Sharing: An Empirical Investigation," NBER International Seminar on Macroeconomics, University of Chicago Press, vol. 8(1), pages 403-466.
    See citations under working paper version above.
  5. Luca Dedola & Giovanni Lombardo, 2012. "Financial frictions, financial integration and the international propagation of shocks [Optimal monetary policy under commitment with a zero bound on nominal interest rates]," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 27(70), pages 319-359.

    Cited by:

    1. Ozge Akinci & Ṣebnem Kalemli-Özcan & Albert Queralto, 2022. "Uncertainty Shocks, Capital Flows, and International Risk Spillovers," NBER Working Papers 30026, National Bureau of Economic Research, Inc.
    2. Ha, Jongrim & Kose, M. Ayhan & Otrok, Christopher & Prasad, Eswar, 2020. "Global Macro-Financial Cycles and Spillovers," IZA Discussion Papers 13000, Institute of Labor Economics (IZA).
    3. Christopher Johnson, 2019. "International Shadow Banking and Macroprudential Policy," 2019 Meeting Papers 780, Society for Economic Dynamics.
    4. Robert Kollmann, 2013. "Global Banks, Financial Shocks, and International Business Cycles: Evidence from an Estimated Model," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 45(s2), pages 159-195, December.
    5. Stijn Claessens & M Ayhan Kose, 2018. "Frontiers of macrofinancial linkages," BIS Papers, Bank for International Settlements, number 95, October –.
    6. Stéphane Auray & Aurélien Eyquem & Xiaofei Ma, 2018. "Banks, Sovereign Risk and Unconventional Monetary Policies," Working Papers halshs-01942734, HAL.
    7. Yuko Imura & Julia Thomas, 2015. "Productive Misallocation and International Transmission of Credit Shocks," Staff Working Papers 15-19, Bank of Canada.
    8. Akdi, Yilmaz & Varlik, Serdar & Berument, M. Hakan, 2020. "Duration of Global Financial Cycles," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 549(C).
    9. Filippo Brutti & Philip Sauré, 2012. "Transmission of Sovereign Risk in the Euro Crisis," Working Papers 12.01, Swiss National Bank, Study Center Gerzensee.
    10. Jae Shim, 2016. "Financial Frictions in the Small Open Economy," Department of Economics Working Papers 50/16, University of Bath, Department of Economics.
    11. Pierre-Richard Agénor & Enisse Kharroubi & Leonardo Gambacorta & Giovanni Lombardo & Luiz Awazu Pereira da Silva, 2017. "The international dimensions of macroprudential policies," BIS Working Papers 643, Bank for International Settlements.
    12. Poutineau, Jean-Christophe & Vermandel, Gauthier, 2015. "Cross-border banking flows spillovers in the Eurozone: Evidence from an estimated DSGE model," Journal of Economic Dynamics and Control, Elsevier, vol. 51(C), pages 378-403.
    13. Prabheesh, K.P. & Anglingkusumo, Reza & Juhro, Solikin M., 2021. "The dynamics of global financial cycle and domestic economic cycles: Evidence from India and Indonesia," Economic Modelling, Elsevier, vol. 94(C), pages 831-842.
    14. Charles Engel, 2015. "International Coordination of Central Bank Policy," NBER Working Papers 20952, National Bureau of Economic Research, Inc.
    15. Bacchetta, Philippe & van Wincoop, Eric, 2013. "Sudden spikes in global risk," Journal of International Economics, Elsevier, vol. 89(2), pages 511-521.
    16. Cesa-Bianchi, Ambrogio & Imbs, Jean & Saleheen, Jumana, 2019. "Finance and synchronization," Journal of International Economics, Elsevier, vol. 116(C), pages 74-87.
    17. Michał Brzoza-Brzezina & Marcin Kolasa & Krzysztof Makarski, 2016. "Crisis, contagion and international policy spillovers under foreign ownership of banks," NBP Working Papers 231, Narodowy Bank Polski.
    18. G√Úne≈Û Kamber & Christoph Thoenissen, 2013. "Financial Exposure and the International Transmission of Financial Shocks," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 45(s2), pages 127-158, December.
    19. Ryoji Ohdoi & Kazuo Mino & Yunfang Hu, 2023. "A heterogeneous-firm model of trade and growth with country-specific credit constraints," KIER Working Papers 1095, Kyoto University, Institute of Economic Research.
    20. Jean-Christophe Poutineau & Gauthier Vermandel, 2018. "Global banking and the conduct of macroprudential policy in a monetary union," Post-Print halshs-01525396, HAL.
    21. Laura Ballester & Ana Mónica Escrivá & Ana González-Urteaga, 2021. "The Nexus between Sovereign CDS and Stock Market Volatility: New Evidence," Mathematics, MDPI, vol. 9(11), pages 1-23, May.
    22. Johnson, Christopher P., 2021. "International shadow banking and prudential capital controls," Journal of International Money and Finance, Elsevier, vol. 119(C).
    23. Kopoin, Alexandre, 2015. "Cross-border Banking, Spillover Effects and International Business Cycles," MPRA Paper 65515, University Library of Munich, Germany, revised 06 Apr 2015.
    24. Zouri, Stéphane, 2019. "Business cycles,bilateral trade and international financial intergration : Evidence from Economic Community of West African States (ECOWAS)," MPRA Paper 98748, University Library of Munich, Germany.
    25. Sutherland, Alan & Küçük, Hande, 2015. "International Risk Sharing and Portfolio Choice with Non-separable Preferences," CEPR Discussion Papers 10724, C.E.P.R. Discussion Papers.
    26. Luk, Paul, 2015. "Chained financial contracts and global banks," Economics Letters, Elsevier, vol. 129(C), pages 87-90.
    27. An, Jiyoun & Kim, Kyunghun & Pyun, Ju Hyun, 2021. "Does debt market integration amplify the international transmission of business cycles during financial crises?," Journal of International Money and Finance, Elsevier, vol. 115(C).
    28. Eickmeier, Sandra & Ng, Tim, 2011. "How Do Credit Supply Shocks Propagate Internationally? A GVAR approach," CEPR Discussion Papers 8720, C.E.P.R. Discussion Papers.
    29. Philippe Bacchetta & Eric van Wincoop, 2016. "The Great Recession: A Self-Fulfilling Global Panic," American Economic Journal: Macroeconomics, American Economic Association, vol. 8(4), pages 177-198, October.
    30. Hilberg, Björn & Grill, Michael & Metiu, Norbert, 2016. "Credit constraints and the international propagation of US financial shocks," Working Paper Series 1954, European Central Bank.
    31. Banerjee, Ryan & Devereux, Michael B. & Lombardo, Giovanni, 2016. "Self-oriented monetary policy, global financial markets and excess volatility of international capital flows," Journal of International Money and Finance, Elsevier, vol. 68(C), pages 275-297.
    32. Ca' Zorzi, Michele & Dedola, Luca & Georgiadis, Georgios & Jarociński, Marek & Stracca, Livio & Strasser, Georg, 2020. "Monetary policy and its transmission in a globalised world," Working Paper Series 2407, European Central Bank.
    33. Òscar Jordà & Moritz Schularick & Alan M. Taylor & Felix Ward, 2019. "Global Financial Cycles and Risk Premiums," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 67(1), pages 109-150, March.
    34. Jalloul, Maya & Miescu, Mirela, 2023. "Equity market connectedness across regimes of geopolitical risks: Historical evidence and theory," Journal of International Money and Finance, Elsevier, vol. 137(C).
    35. Zhu, Jiaqing, 2019. "External financial liabilities and real exchange rate jumps," The North American Journal of Economics and Finance, Elsevier, vol. 48(C), pages 202-220.
    36. Cardani, Roberta & Hohberger, Stefan & Pfeiffer, Philipp & Vogel, Lukas, 2020. "Domestic versus foreign drivers of trade (im)balances: How robust is evidence from estimated DSGE models?," MPRA Paper 102469, University Library of Munich, Germany.
    37. Karkowska, Renata & Urjasz, Szczepan, 2021. "Connectedness structures of sovereign bond markets in Central and Eastern Europe," International Review of Financial Analysis, Elsevier, vol. 74(C).
    38. Carattini, Stefano & Kim, Giseong & Melkadze, Givi & Pommeret, Aude, 2024. "Carbon taxes and tariffs, financial frictions, and international spillovers," European Economic Review, Elsevier, vol. 170(C).
    39. Tommaso Trani, 2012. "Country Portfolios with Heterogeneous Pledgeability," IHEID Working Papers 02-2012, Economics Section, The Graduate Institute of International Studies, revised 12 Feb 2012.
    40. Luca Guerrieri & Matteo Iacoviello & Raoul Minetti, 2012. "Banks, Sovereign Debt and the International Transmission of Business Cycles," NBER Working Papers 18303, National Bureau of Economic Research, Inc.
    41. Georgios Georgiadis & Martina Jancokova, 2017. "Financial Globalisation, Monetary Policy Spillovers and Macro-modelling: Tales from 1001 Shocks," Globalization Institute Working Papers 314, Federal Reserve Bank of Dallas.
    42. Ohdoi, Ryoji, 2020. "Trade, Growth, and the International Transmission of Financial Shocks," MPRA Paper 100756, University Library of Munich, Germany.
    43. F. Gulcin Ozkan & D. Filiz Unsal, 2012. "Global financial crisis, financial contagion and emerging markets," Discussion Papers 12/35, Department of Economics, University of York.
    44. Milcheva, Stanimira, 2013. "Cross-country effects of regulatory capital arbitrage," Journal of Banking & Finance, Elsevier, vol. 37(12), pages 5329-5345.
    45. Kim, Myunghyun, 2020. "How the financial market can dampen the effects of commodity price shocks," European Economic Review, Elsevier, vol. 121(C).
    46. Martin R. Goetz & Juan Carlos Gozzi, 2020. "Financial Integration and the Co-Movement of Economic Activity: Evidence from U.S. States," International Finance Discussion Papers 1305, Board of Governors of the Federal Reserve System (U.S.).
    47. Michele Ca’ Zorzi & Luca Dedola & Georgios Georgiadis & Marek Jarocinski & Livio Stracca & Georg Strasser, 2023. "Making Waves: Monetary Policy and Its Asymmetric Transmission in a Globalized World," International Journal of Central Banking, International Journal of Central Banking, vol. 19(2), pages 95-144, June.
    48. Thibaud Cargoet & Jean-Christophe Poutineau, 2018. "Financial Disruption and State Dependant Credit Policy," Post-Print halshs-01683785, HAL.
    49. Nuguer Victoria, 2015. "Financial Intermediation in a Global Environment," Working Papers 2015-05, Banco de México.
    50. Marcellino, Massimiliano & Eickmeier, Sandra & Lemke, Wolfgang, 2011. "The Changing International Transmission of Financial Shocks: Evidence from a Classical Time-Varying FAVAR," CEPR Discussion Papers 8341, C.E.P.R. Discussion Papers.
    51. Michael B. Devereux & Charles Engel & Steve Pak Yeung Wu, 2023. "Collateral Advantage: Exchange Rates, Capital Flows and Global Cycles," NBER Working Papers 31164, National Bureau of Economic Research, Inc.
    52. Isoré, Marlène, 2016. "International propagation of financial shocks in a search and matching environment," Bank of Finland Research Discussion Papers 28/2016, Bank of Finland.
    53. Shifu Jiang, 2022. "Optimal Credit, Monetary, and Fiscal Policy under Occasional Financial Frictions and the Zero Lower Bound," International Journal of Central Banking, International Journal of Central Banking, vol. 18(1), pages 151-197, March.
    54. Wen Yao, 2012. "International Business Cycles and Financial Frictions," Staff Working Papers 12-19, Bank of Canada.
    55. Florian Huber & Maria Teresa Punzi, 2017. "The shortage of safe assets in the US investment portfolio: Some international evidence," Department of Economics Working Papers wuwp243, Vienna University of Economics and Business, Department of Economics.
    56. Pierre‐Richard Agénor & Timothy Jackson & Enisse Kharroubi & Leonardo Gambacorta & Giovanni Lombardo & Luiz A. Pereira Da Silva, 2021. "Assessing the Gains from International Macroprudential Policy Cooperation," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 53(7), pages 1819-1866, October.
    57. Zouri, Stéphane, 2020. "Business cycles, bilateral trade and financial integration: Evidence from Economic Community of West African States (ECOWAS)," International Economics, Elsevier, vol. 163(C), pages 25-43.
    58. Montinari, Letizia & Stracca, Livio, 2016. "Trade, finance or policies: What drives the cross-border spill-over of business cycles?," Journal of Macroeconomics, Elsevier, vol. 49(C), pages 131-148.
    59. Goetz, Martin R. & Gozzi, Juan Carlos, 2022. "Financial integration and the co-movement of economic activity: Evidence from U.S. states," Journal of International Economics, Elsevier, vol. 135(C).
    60. Dovern, Jonas & van Roye, Björn, 2014. "International transmission and business-cycle effects of financial stress," Journal of Financial Stability, Elsevier, vol. 13(C), pages 1-17.
    61. Emter, Lorenz, 2020. "Leverage Cycles, Growth Shocks, and Sudden Stops in Capital Inflows," Research Technical Papers 06/RT/20, Central Bank of Ireland.
    62. Stracca, Livio, 2013. "The global effects of the euro debt crisis," Working Paper Series 1573, European Central Bank.
    63. Dedola, Luca & Karadi, Peter & Lombardo, Giovanni, 2013. "Global implications of national unconventional policies," Journal of Monetary Economics, Elsevier, vol. 60(1), pages 66-85.
    64. Ida, Daisuke, 2023. "Cost channel, determinacy, and monetary policy in a two-country new Keynesian model," Economic Modelling, Elsevier, vol. 119(C).
    65. Stefano Carattini & Giseong Kim & Givi Melkadze & Aude Pommeret, 2023. "Carbon Taxes and Tariffs, Financial Frictions, and International Spillovers," CESifo Working Paper Series 10851, CESifo.
    66. Zouri, Stéphane, 2019. "Business cycles,bilateral trade and international financial intergration : Evidence from Economic Community of West African States (ECOWAS)," MPRA Paper 95275, University Library of Munich, Germany.
    67. Gregory de Walque & Thomas Lejeune & Ansgar Rannenberg & Magne Mogstad, 2023. "BEMGIE: Belgian Economy in a Macro General and International Equilibrium model," Working Paper Research 435, National Bank of Belgium.
    68. Andrej Sokol & Ambrogio Cesa-Bianchi, 2017. "The International Credit Channel of U.S. Monetary Policy and Financial Shocks," 2017 Meeting Papers 724, Society for Economic Dynamics.
    69. Stracca, Livio, 2015. "Our currency, your problem? The global effects of the euro debt crisis," European Economic Review, Elsevier, vol. 74(C), pages 1-13.
    70. Metiu, Norbert & Hilberg, Björn & Grill, Michael, 2015. "Financial frictions and global spillovers," Discussion Papers 04/2015, Deutsche Bundesbank.
    71. Gunes Kamber & Christoph Thoenissen, 2011. "Financial intermediation and the internationalbusiness cycle: The case of small countries with big banks," CAMA Working Papers 2011-22, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    72. Doriane Intungane, 2023. "The impact of macroprudential policies on the transmission of shocks across financially integrated countries," Review of International Economics, Wiley Blackwell, vol. 31(1), pages 249-273, February.
    73. Lance Kent, 2014. "Bilateral Linkages and the International Transmission of Business Cycles," Working Papers 149, Department of Economics, College of William and Mary.

  6. Giovanni Lombardo & Luca Dedola, 2011. "Financial frictions, financial integration and the international propagation of shocks," Research Bulletin, European Central Bank, vol. 14, pages 5-10.
    See citations under working paper version above.
  7. Giancarlo Corsetti & Luca Dedola & Sylvain Leduc, 2008. "International Risk Sharing and the Transmission of Productivity Shocks," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 75(2), pages 443-473.
    See citations under working paper version above.
  8. Corsetti, Giancarlo & Dedola, Luca & Leduc, Sylvain, 2008. "High exchange-rate volatility and low pass-through," Journal of Monetary Economics, Elsevier, vol. 55(6), pages 1113-1128, September.
    See citations under working paper version above.
  9. Dedola, Luca & Neri, Stefano, 2007. "What does a technology shock do? A VAR analysis with model-based sign restrictions," Journal of Monetary Economics, Elsevier, vol. 54(2), pages 512-549, March.
    See citations under working paper version above.
  10. Bems, Rudolfs & Dedola, Luca & Smets, Frank, 2007. "US imbalances: The role of technology and policy," Journal of International Money and Finance, Elsevier, vol. 26(4), pages 523-545, June.
    See citations under working paper version above.
  11. Luca Dedola, 2006. "Global imbalances and "excess liquidity": is there a link?," Research Bulletin, European Central Bank, vol. 4, pages 5-7.

    Cited by:

    1. Lucas Papademos, 2007. "The Effects of Globalization on Inflation, Liquidity and Monetary Policy," NBER Chapters, in: International Dimensions of Monetary Policy, pages 593-608, National Bureau of Economic Research, Inc.

  12. Corsetti, Giancarlo & Dedola, Luca, 2005. "A macroeconomic model of international price discrimination," Journal of International Economics, Elsevier, vol. 67(1), pages 129-155, September.
    See citations under working paper version above.
  13. Dedola, Luca & Lippi, Francesco, 2005. "The monetary transmission mechanism: Evidence from the industries of five OECD countries," European Economic Review, Elsevier, vol. 49(6), pages 1543-1569, August.
    See citations under working paper version above.
  14. Dedola, Luca & Leduc, Sylvain, 2001. "Why Is the Business-Cycle Behaviour of Fundamentals Alike across Exchange-Rate Regimes?," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 6(4), pages 401-419, October.
    See citations under working paper version above.

Chapters

  1. Luca Dedola & Giulia Rivolta & Livio Stracca, 2016. "If the Fed Sneezes, Who Catches a Cold?," NBER Chapters, in: NBER International Seminar on Macroeconomics 2016, National Bureau of Economic Research, Inc.
    See citations under working paper version above.
  2. Giancarlo Corsetti & Luca Dedola & Francesca Viani, 2011. "Traded and Nontraded Goods Prices and International Risk Sharing: An Empirical Investigation," NBER Chapters, in: NBER International Seminar on Macroeconomics 2011, pages 403-466, National Bureau of Economic Research, Inc.
    See citations under working paper version above.
  3. Corsetti, Giancarlo & Dedola, Luca & Leduc, Sylvain, 2010. "Optimal Monetary Policy in Open Economies," Handbook of Monetary Economics, in: Benjamin M. Friedman & Michael Woodford (ed.), Handbook of Monetary Economics, edition 1, volume 3, chapter 16, pages 861-933, Elsevier.
    See citations under working paper version above.
  4. Giancarlo Corsetti & Luca Dedola & Sylvain Leduc, 2008. "Productivity, External Balance, and Exchange Rates: Evidence on the Transmission Mechanism among G7 Countries," NBER Chapters, in: NBER International Seminar on Macroeconomics 2006, pages 117-194, National Bureau of Economic Research, Inc.
    See citations under working paper version above.
  5. Giancarlo Corsetti & Luca Dedola & Sylvain Leduc, 2007. "Optimal Monetary Policy and the Sources of Local-Currency Price Stability," NBER Chapters, in: International Dimensions of Monetary Policy, pages 319-367, National Bureau of Economic Research, Inc.
    See citations under working paper version above.
  6. Luca Dedola & Stefano Usai & Marco Vannini, 1999. "An assessment of regional risk sharing in Italy and the United Kingdom," Chapters, in: John Adams & Francesco Pigliaru (ed.), Economic Growth and Change, chapter 15, Edward Elgar Publishing.

    Cited by:

    1. Attilio Gardini & Giuseppe Cavaliere & Luca Fanelli, 2006. "Risk sharing, avversione al rischio e stabilizzazione delle economie regionali in Italia," Quaderni di Dipartimento 0, Department of Statistics, University of Bologna.
    2. Pierfederico Asdrubali & Soyoung Kim, 2005. "Incomplete Intertemporal Consumption Smoothing and Incomplete Risksharing," International Finance 0506010, University Library of Munich, Germany.
    3. Du, Julan & He, Qing & Rui, Oliver M., 2011. "Channels of Interprovincial Consumption Risk Sharing in the People’s Republic of China," ADBI Working Papers 334, Asian Development Bank Institute.
    4. Giuseppe Cavaliere & Luca Fanelli & Attilio Gardini, 2009. "Consumption risk sharing and adjustment costs," Economics Bulletin, AccessEcon, vol. 29(2), pages 1117-1126.
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