This study applies factor-augmented vector autoregressive models to investigate the effect of
the European Central Bank's (ECB) conventional monetary policy on the real economy …

Structural vector autoregressions (VARs) are widely used to trace out the effect of monetary
policy innovations on the economy. However, the sparse information sets typically used in …

Using factor-augmented vector autoregressive (FAVAR) models, this study examines the
effects of the Central Bank of Russia's (CBR) monetary policy on economic indicators. The …

Measuring the transmission of monetary policy is the main subject in a large empirical
literature, the conclusions about the role that monetary policy plays in the economy and the …

After the global financial crisis, the ECB, as other major central banks, has introduced new
monetary instruments to effectively respond to economic and financial shocks. This paper …

Global Financial Crisis erupted as a sub-prime mortgage market crisis in US and became a
full-fledged global crisis after the fall of Lehman Brothers. Thus, the effects of financial crisis …

During the European financial crisis, the European Central Bank implemented a series of
unconventional monetary policy measures. We argue that these programs lowered the bond …

This paper compares the macroeconomic impact of conventional and unconventional ECB
policy actions on the euro area and its spillover to six EU countries outside the euro area …

The recent financial crisis of 2007–2009 raises several issues related to the conduct of
monetary policy during the last two decades. Inflation targeting monetary strategy has been …

Unconventional monetary policy measures implemented by the European Central Bank in
recent years have helped to reduce interest rates on sovereign debt in the euro area as a …