Lagos, Ricardo and Zhang, Shengxing ORCID: 0000-0002-1475-2188 (2020) Turnover liquidity and the transmission of monetary policy. American Economic Review, 110 (6). 1635 - 1672. ISSN 0002-8282
Text (aer.20170045)
- Published Version
Download (918kB) |
Identification Number: 10.1257/aer.20170045
Abstract
We provide empirical evidence of a novel liquidity-based transmission mechanism through which monetary policy influences asset markets, develop a model of this mechanism, and assess the ability of the quantitative theory to match the evidence.
Item Type: | Article |
---|---|
Official URL: | https://www.aeaweb.org/journals/aer |
Additional Information: | © 2020 American Economic Association |
Divisions: | Economics |
Subjects: | H Social Sciences > HG Finance H Social Sciences > HB Economic Theory |
JEL classification: | E - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates > E44 - Financial Markets and the Macroeconomy E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E52 - Monetary Policy (Targets, Instruments, and Effects) G - Financial Economics > G1 - General Financial Markets > G12 - Asset Pricing; Trading volume; Bond Interest Rates G - Financial Economics > G1 - General Financial Markets > G14 - Information and Market Efficiency; Event Studies G - Financial Economics > G3 - Corporate Finance and Governance > G35 - Payout Policy |
Date Deposited: | 16 Jun 2020 14:57 |
Last Modified: | 08 Nov 2024 22:39 |
URI: | http://eprints.lse.ac.uk/id/eprint/105095 |
Actions (login required)
View Item |