Andrade, Philippe; Ferroni, Filippo; Melosi, Leonardo - 2023 - First draft (June 2022)
two empirical questions: the effects of monetary policy shocks in the US and the effects of sovereign bonds spreads shocks … EA governments bonds spreads, monetary policy quickly turns expansionary, corporate borrowing conditions worsen on impact …, the real economy and the labor market of the Euro Area contract appreciably, returns on German government bonds fall …