| Title: | International transmission of conventional and unconventional monetary policy and financial stress shocks from the euro area to Russia |
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| Authors: | ID Dajčman, Silvo (Author)
ID Kavkler, Alenka (Author)
ID Merzlyakov, Sergey (Author)
ID Pekarski, Sergey E. (Author)
ID Romih, Dejan (Author) |
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| Files: |  International_Transmission_of_Con-Dajcman-2022.pdf (1,85 MB)
MD5: 364F33ADA22F0CD48854F1603F36E789
 https://www.sciendo.com/article/10.2478/jcbtp-2022-0010
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| Language: | Slovenian |
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| Work type: | Scientific work |
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| Typology: | 1.01 - Original Scientific Article |
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| Organization: | EPF - Faculty of Business and Economics
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| 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. |
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| Keywords: | conventional monetary policy, unconventional monetary policy, financial stress, Russia, international transmission |
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| Publication status: | Published |
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| Publication version: | Version of Record |
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| Submitted for review: | 03.06.2020 |
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| Article acceptance date: | 28.09.2020 |
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| Publication date: | 01.01.2022 |
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| Publisher: | Sciendo |
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| Year of publishing: | 2022 |
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| Number of pages: | str. 227-247 |
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| Numbering: | Letn. 11, Št. 1 |
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| PID: | 20.500.12556/DKUM-86010  |
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| UDC: | 338.23:336.74 |
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| ISSN on article: | 2336-9205 |
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| COBISS.SI-ID: | 96939779 |
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| DOI: | 10.2478/jcbtp-2022-0010 |
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| Publication date in DKUM: | 26.09.2023 |
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| Views: | 583 |
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| Downloads: | 49 |
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| Metadata: |    |
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| Categories: | Misc.
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