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dc.contributor.authorBLUWSTEIN, Kristina
dc.contributor.authorCANOVA, Fabio
dc.date.accessioned2018-01-12T08:31:09Z
dc.date.available2018-01-12T08:31:09Z
dc.date.issued2016
dc.identifier.citationInternational journal of central banking (IJCB), 2016, Vol. 12, No. 3, pp. 69-120en
dc.identifier.issn1815-4654
dc.identifier.issn1815-7556
dc.identifier.urihttp://hdl.handle.net/1814/50065
dc.descriptionPublished online: September 2016en
dc.description.abstractThis paper examines the effects of unconventional monetary policy measures by the European Central Bank on nine European countries not adopting the euro with a novel Bayesian mixed-frequency structural vector autoregressive technique. Unconventional monetary policy disturbances generate important domestic fluctuations. The wealth, the risk, and the portfolio rebalancing channels matter for international propagation; the credit channel does not. The responses of foreign output and inflation are independent of the exchange rate regime. International spillovers are larger in countries with more advanced financial systems and a larger share of domestic banks. A comparison with conventional monetary policy disturbances and with announcement surprises is provided.en
dc.language.isoenen
dc.relation.ispartofInternational Journal of Central Banking (IJCB)en
dc.relation.isreplacedbyhttp://hdl.handle.net/1814/49990
dc.subjectE52en
dc.subjectF42en
dc.subjectC11en
dc.subjectC32en
dc.subjectG15en
dc.titleBeggar-thy-neighbor? : the international effects of ECB unconventional monetary policy measuresen
dc.typeArticleen
dc.identifier.volume12en
dc.identifier.startpage69en
dc.identifier.endpage120en
dc.identifier.issue3en


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