Research Discussion Paper – RDP 2019-03 Explaining Monetary Spillovers: The Matrix Reloaded


We are grateful to Ben Cohen, Stijn Claessens, Mathias Drehmann, Georgios Georgiades, Enisse Kharroubi, Hyun Song Shin, and seminar and conference participants at the Bank for International Settlements, Reserve Bank of Australia, University of Geneva, University of Lugano, University of Melbourne, University of Sydney, the 2017 Geneva International Macroeconomics and Finance Workshop and the 2018 CEBRA conference, for helpful comments and suggestions. The views in this paper are those of the authors and do not necessarily represent those of the Bank for International Settlements (BIS) or the Reserve Bank of Australia (RBA). All errors are our own.


Reserve Bank of Australia [*]

Bank for International Settlements [**]