We found that a Fed tightening leads to a reduction in the Euro Area's GDP and that the impact of ECB monetary policy on the US economy is close to zero after five years. And we also found that the Fed and ECB have a considerable cross-border influence on emerging market economies.
Key learning objectives:
Understand the level of these spillovers depending on whether monetary policy is endogenous or exogenous
Understand the spillover effects of ECB and Fed monetary policy on Emerging Markets
Post-COVID Exogenous and Endogenous ECB Monetary Policy I
Corrado Macchiarelli • 07:56