{"id":55755,"date":"2023-12-01T18:49:44","date_gmt":"2023-12-01T17:49:44","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/shadow-rates-and-spillovers-across-the-eurozone-a-spatial-dynamic-panel-model\/"},"modified":"2025-10-22T22:21:07","modified_gmt":"2025-10-22T20:21:07","slug":"shadow-rates-and-spillovers-across-the-eurozone-a-spatial-dynamic-panel-model","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/55755\/","title":{"rendered":"Shadow rates and spillovers across the Eurozone: a spatial dynamic panel model"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-55755","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"In this paper, we focus on the effect of spillovers in monetary policy in the period 2004-2017. Firstly, we calculate shadow rates that measure the monetary stances for each country analysed. Then, by using the approach of spatial dynamic panel, we account for the presence of potential spillovers in the Eurozone, both in the long and short run, while controlling for the main channels regulating the monetary stances. Results confirm that monetary policy is largely affected by the presence of spillovers due to proximity in the business cycles and this effect should be considered to manage the effects of monetary policy in different European economies.","onlinedate":"2021-02-01 01:00:00","lang":"English","publication_series":"","publication_date":"20210201","publication_date_year":"","publication_date_full":false,"publication_num_pages":"","keywords":"[]","jelcodes":"[]","related_publications":"[]","pdf":null,"zip":null,"link":"http:\/\/www.springer.com\/10663","monthly_report":false,"monthly_report_main":false,"monthly_report_volume":"48","monthly_report_pages":"223-245","monthly_report_pages_sort":"223","issue":"1","journal":"Empirica","publisher":"","invisible":false,"external":true,"embargo_date":null,"types":[83083],"research_groups":[3500],"collaboration":"","persons":[11913,11911,11923],"persons_data":"[{\"personId\":11913,\"personName\":\"Cristiana Fiorelli\",\"organisationNames\":[]},{\"personId\":11911,\"personName\":\"Alfredo Cartone\",\"organisationNames\":[]},{\"personId\":11923,\"personName\":\"Matteo Foglia\",\"organisationNames\":[]}]","clients":[],"subclients":[],"partners":[],"topics":[],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","scientific_assistance":"[]","scientific_review":"[]","version":"","release_date":null,"expiration_date":null,"surveyor":"","research_assistance":"","edv":"","additional_info_de":"","additional_info_en":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.5 (Yoast SEO v26.5) - 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