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Unconventional monetary policy measures of the ECB The “new normal” strategy and global spillover effects

(2023)

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Abstract
In an era of unprecedented globalization, in which economies are more and more interconnected, it is becoming increasingly important to be able to discern and understand how a regional shock can impact the global scene. Those regional shocks are also impacting nearly all sectors, from the production side up to the financial management.... ...One thing to highlight is the ever-growing importance of the financial system in the globalization process. Financial institutions have an increasingly broader and stronger reach, they can therefore change the economic dynamic inside of a country