Affiliation:
1. Department of Economics, New York University (email: )
2. Department of Economics, London School of Economics (email: )
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. (JEL E44, E52, G12, G14, G35)
Publisher
American Economic Association
Subject
Economics and Econometrics
Cited by
34 articles.
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