• Nonlinear transmission of financial shocks: Some new evidence 

      Forni, Mario; Gambetti, Luca; Maffei-Faccioli, Nicolò; Sala, Luca (Working paper;3/2022, Working paper, 2022)
      Financial shocks generate a protracted and quantitatively important effect on real economic activity and financial markets only if the shocks are both negative and large. Otherwise, their role is quite modest. Financial ...