How quickly do shocks propagate through the economy? The current data-rich environment demands policymakers to find new ways of answering this crucial question in order to effectively time their policy responses. Various shocks, such as abrupt policy rate hikes or fluctuations in oil prices, have short- and/or long-term effects that propagate through the economy at different speeds. While macroeconomic aggregates such as GDP, unemployment, or inflation, require months, if not full quarters, to yield informative responses, information regarding financial markets’ reactions to shocks unfolds almost instantaneously. In this research project, I aim to develop robust mixed-frequency econometric tools to (i) quantify the impact of sudden changes on both the macroeconomic and financial environment, (ii) test for short- and long-term causality when variables are sampled at different frequencies to assess how enduring such shocks can be, and (iii) estimate the time lag needed for causality to arise in macroeconomic data. These tools will empower policymakers to navigate the complexities of the modern economic environment with precision and foresight.