Isabel Schnabel: Interview with Süddeutsche Zeitung
Communication shocks from the US spill over to risk in the euro area and vice versa, but traditional US shocks show no spillover effects to risk.
- Communication shocks from the US spill over to risk in the euro area and vice versa, but traditional US shocks show no spillover effects to risk.
- Both monetary policy and communication shocks spill over to stocks, with euro area information spillovers being particularly strong.