Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/314290 
Year of Publication: 
2024
Citation: 
[Journal:] Journal of Applied Economics [ISSN:] 1667-6726 [Volume:] 27 [Issue:] 1 [Article No.:] 2395114 [Year:] 2024 [Pages:] 1-29
Publisher: 
Taylor & Francis, Abingdon
Abstract: 
Transmission channels from monetary shocks might be identified by studying the features of the production network. The main aim of this paper is to provide insights about the role of production network into the propagation of monetary policy shocks in G7 economies. Time-varying Bayesian vector-autoregressions were built to compute impulse response functions of output to monetary policy shocks in these countries. Panel Auto-Regressive Distributed Lag Bound Approach based on Mean-Group estimator was used to assess the long and short-run connections between production network structure and various shocks associated to monetary policy in the period 2000-2018 and during the Great Recession (2007-2009). The results show that upstreamness is more significant than downstremness in the period 2000-2018, while the financial sector significantly contributed to the spread of various monetary shocks during the Great Recession.
Subjects: 
Bayesian VAR model
monetary policy shocks
panel ARDL model
production network
JEL: 
C51
C53
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.