{"id":"https://openalex.org/W3033009059","doi":null,"title":"When the Fed sneezes, the whole world catches the cold, when the ECB - only Europe","display_name":"When the Fed sneezes, the whole world catches the cold, when the ECB - only Europe","publication_year":2020,"publication_date":"2020-06-05","ids":{"openalex":"https://openalex.org/W3033009059","mag":"3033009059"},"language":"en","primary_location":{"id":"pmh:oai:RePEc:pra:mprapa:100899","doi":null,"is_oa":false,"landing_page_url":"https://mpra.ub.uni-muenchen.de/100899/1/MPRA_paper_100899.pdf","pdf_url":"https://mpra.ub.uni-muenchen.de/100899/1/MPRA_paper_100899.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},"volume":null,"type":"preprint","is_traditional":true,"indexed_in":[],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5009967636","display_name":"Ma\u0142gorzata Walerych","orcid":"https://orcid.org/0000-0003-2447-9004","observed_orcids":["https://orcid.org/0000-0003-2447-9004"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Ma\u0142gorzata Walerych","raw_affiliation_strings":[],"raw_orcid":"https://orcid.org/0000-0003-2447-9004","affiliations":[]},{"author_position":"last","author":{"id":"https://openalex.org/A5031557769","display_name":"Grzegorz Weso\u0142owski","orcid":"https://orcid.org/0000-0002-1873-6521","observed_orcids":["https://orcid.org/0000-0002-1873-6521"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Grzegorz Weso\u0142owski","raw_affiliation_strings":[],"raw_orcid":"https://orcid.org/0000-0002-1873-6521","affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":true,"cited_by_count":1,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.8925999999046326,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.8925999999046326,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10503","display_name":"Global Financial Crisis and Policies","score":0.09560000151395798,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11059","display_name":"Market Dynamics and Volatility","score":0.010400000028312206,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/international-monetary-policy-spillovers","display_name":"international monetary policy spillovers","score":0.7829999923706055},{"id":"https://openalex.org/keywords/federal-reserve","display_name":"Federal Reserve","score":0.7960000038146973},{"id":"https://openalex.org/keywords/european-central-bank","display_name":"European Central Bank","score":0.9990000128746033},{"id":"https://openalex.org/keywords/emerging-markets","display_name":"emerging markets","score":0.7099999785423279},{"id":"https://openalex.org/keywords/central-eastern-europe","display_name":"Central-Eastern Europe","score":0.7450000047683716},{"id":"https://openalex.org/keywords/latin-america","display_name":"Latin America","score":1.0},{"id":"https://openalex.org/keywords/monetary-policy-transmission","display_name":"monetary policy transmission","score":0.4869999885559082}],"concepts":[{"id":"https://openalex.org/C158886217","wikidata":"https://www.wikidata.org/wiki/Q16799549","display_name":"Latin Americans","level":2,"score":0.6943949460983276},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.6352734565734863},{"id":"https://openalex.org/C126285488","wikidata":"https://www.wikidata.org/wiki/Q178476","display_name":"Monetary policy","level":2,"score":0.633212685585022},{"id":"https://openalex.org/C159877910","wikidata":"https://www.wikidata.org/wiki/Q2202883","display_name":"Autoregressive model","level":2,"score":0.6316810846328735},{"id":"https://openalex.org/C121087249","wikidata":"https://www.wikidata.org/wiki/Q546395","display_name":"Emerging markets","level":2,"score":0.6126136779785156},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.41185104846954346},{"id":"https://openalex.org/C18547055","wikidata":"https://www.wikidata.org/wiki/Q47417","display_name":"International economics","level":1,"score":0.3607245683670044},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.32749098539352417},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.22455540299415588},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.15417230129241943},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"pmh:oai:RePEc:pra:mprapa:100899","doi":null,"is_oa":false,"landing_page_url":"https://mpra.ub.uni-muenchen.de/100899/1/MPRA_paper_100899.pdf","pdf_url":"https://mpra.ub.uni-muenchen.de/100899/1/MPRA_paper_100899.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},{"id":"mag:3033009059","doi":null,"is_oa":false,"landing_page_url":"https://ideas.repec.org/p/pra/mprapa/100899.html","pdf_url":null,"source":{"id":"https://openalex.org/S4306400553","display_name":"Munich Personal RePEc Archive (Ludwig Maximilian University of Munich)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I8204097","host_organization_name":"Ludwig-Maximilians-Universit\u00e4t M\u00fcnchen","host_organization_lineage":["https://openalex.org/I8204097"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"MPRA Paper","raw_type":null}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":0,"referenced_works":[],"related_works":["https://openalex.org/W3184428080","https://openalex.org/W4238667394","https://openalex.org/W3174837208","https://openalex.org/W3154118937","https://openalex.org/W7113541709","https://openalex.org/W2613217035","https://openalex.org/W2765151128","https://openalex.org/W6926580118","https://openalex.org/W3025359977","https://openalex.org/W7111746620"],"abstract_inverted_index":{"This":[0],"paper":[1],"presents":[2],"evidence":[3],"that":[4,66],"the":[5,53,67,73],"international":[6],"spillovers":[7],"of":[8,38,55],"Fed's":[9],"conventional":[10],"monetary":[11],"policy":[12,63],"to":[13],"emerging":[14],"markets":[15],"are":[16,22,75],"global,":[17],"while":[18,72],"their":[19],"ECB's":[20],"counterparts":[21],"local.":[23],"The":[24],"result":[25],"comes":[26],"from":[27],"panel":[28],"Bayesian":[29],"Vector":[30],"Autoregressive":[31],"model":[32],"estimated":[33],"separately":[34],"for":[35,77,81],"two":[36],"groups":[37],"countries:":[39],"Central":[40],"Eastern":[41],"Europe":[42],"(CEE)":[43],"and":[44,57,60,79],"Latin":[45],"America":[46],"(LA).":[47],"In":[48],"this":[49],"setup,":[50],"we":[51],"investigate":[52],"impact":[54],"unanticipated":[56],"anticipated":[58],"Fed":[59],"ECB":[61],"montetary":[62],"shocks,":[64],"showing":[65],"former":[68],"affect":[69],"both":[70],"regions,":[71],"latter":[74],"important":[76],"CEE":[78],"insignificant":[80],"LA.":[82]},"counts_by_year":[{"year":2021,"cited_by_count":1}],"updated_date":"2026-10-31T12:09:11.096373","created_date":"2020-06-12T00:00:00"}