Impulse response functions to shock in US shadow rates: Europe.
Note: The figure depicts the IRFs to a one-standard deviation positive shock in the US shadow rates for a monthly dataset on EMEs from Europe. The point-wise median responses show the percentage response of macroeconomic factors of European emerging markets due to a positive shock in the US shadow rates over time. Source: Compiled by the author.
Part of: Sikhwal S (2022) Effects of US interest rate shocks in the emerging market economies: Evidence from panel structural VAR. Russian Journal of Economics 8(3): 234-254. https://doi.org/10.32609/j.ruje.8.89717