IDEAS home Printed from https://ideas.repec.org/p/zbw/bubdps/344531.html

Safe haven status and international shock transmission

Author

Listed:
  • Hasenclever, Stefan
  • Kolb, Benedikt

Abstract

What are the macro-financial implications if the safe haven status shifts from the US to the euro area? In a two-block DSGE model, a safe haven status of the euro area dampens the effects of flight-to-safety shocks on European domestic aggregate demand and financial conditions. The shock after April 2, 2025, may have been considerably cushioned in the euro area by its safe haven status at the time. However, in a crisis with a relatively smaller international flight to safety, as in 2008-09, the shock attenuation by a European safe haven status would be limited.

Suggested Citation

  • Hasenclever, Stefan & Kolb, Benedikt, 2026. "Safe haven status and international shock transmission," Discussion Papers 30/2026, Deutsche Bundesbank.
    • Handle: RePEc:zbw:bubdps:344531
    DOI: 10.71734/DP-2026-30
    as

    Download full text from publisher

    File URL: https://www.econstor.eu/bitstream/10419/344531/1/1988209307.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.71734/DP-2026-30?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Keywords

    ;
    ;
    ;
    ;

    JEL classification:

    • C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • F47 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Forecasting and Simulation: Models and Applications
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:zbw:bubdps:344531. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ZBW - Leibniz Information Centre for Economics (email available below). General contact details of provider: https://edirc.repec.org/data/dbbgvde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.