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Title:International transmission of conventional and unconventional monetary policy and financial stress shocks from the euro area to Russia
Authors:ID Dajčman, Silvo (Author)
ID Kavkler, Alenka (Author)
ID Merzlyakov, Sergey (Author)
ID Pekarski, Sergey E. (Author)
ID Romih, Dejan (Author)
Files:.pdf International_Transmission_of_Con-Dajcman-2022.pdf (1,85 MB)
MD5: 364F33ADA22F0CD48854F1603F36E789
 
URL https://www.sciendo.com/article/10.2478/jcbtp-2022-0010
 
Language:Slovenian
Work type:Scientific work
Typology:1.01 - Original Scientific Article
Organization:EPF - Faculty of Business and Economics
Abstract:This paper studies the international transmission of the euro area´s monetary policy and financial stress to Russia. The results show that financial stress in the euro area damages Russian economic activity and stock prices, but not its trade balance. The contractionary euro area monetary policy shock decreases Russian GDP, leads to real appreciation of the euro against the Russian rouble, damages Russian stock prices, but does not significantly affect the trade balance between countries. We also found that the Central Bank of the Russian Federation adjusts to monetary policy shocks in the euro area.
Keywords:conventional monetary policy, unconventional monetary policy, financial stress, Russia, international transmission
Publication status:Published
Publication version:Version of Record
Submitted for review:03.06.2020
Article acceptance date:28.09.2020
Publication date:01.01.2022
Publisher:Sciendo
Year of publishing:2022
Number of pages:str. 227-247
Numbering:Letn. 11, Št. 1
PID:20.500.12556/DKUM-86010 New window
UDC:338.23:336.74
ISSN on article:2336-9205
COBISS.SI-ID:96939779 New window
DOI:10.2478/jcbtp-2022-0010 New window
Publication date in DKUM:26.09.2023
Views:419
Downloads:37
Metadata:XML DC-XML DC-RDF
Categories:Misc.
:
DAJČMAN, Silvo, KAVKLER, Alenka, MERZLYAKOV, Sergey, PEKARSKI, Sergey E. and ROMIH, Dejan, 2022, International transmission of conventional and unconventional monetary policy and financial stress shocks from the euro area to Russia. Journal of Central Banking Theory and Practice [online]. 2022. Vol. 11, no. Št. 1, p. 227–247. [Accessed 23 January 2025]. DOI 10.2478/jcbtp-2022-0010. Retrieved from: https://dk.um.si/IzpisGradiva.php?lang=eng&id=86010
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Record is a part of a journal

Title:Journal of Central Banking Theory and Practice
Shortened title:J. Cent. Bank. Theory Pract.
Publisher:Central Bank of Montenegro
ISSN:2336-9205
COBISS.SI-ID:523663385 New window

Document is financed by a project

Funder:ARRS - Slovenian Research Agency
Project number:P5-0023
Name:Podjetništvo za inovativno družbo

Funder:Other - Other funder or multiple funders
Project number:BI-RU/19-20-010

Licences

License:CC BY 4.0, Creative Commons Attribution 4.0 International
Link:http://creativecommons.org/licenses/by/4.0/
Description:This is the standard Creative Commons license that gives others maximum freedom to do what they want with the work as long as they credit the author.

Secondary language

Language:English
Keywords:konvencionalna denarna politika, nekonvencionalna denarna politika, finančni stres, Rusija, mednarodni prenos


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