Paper #1839

Títol:

Q-Monetary Transmission

Autors:

Priit Jeenas i Ricardo Lagos

Data:

Maig 2022

Resum:

We study the effects of monetary-policy-induced changes in Tobin's q on corporate investment and capital structure. We develop a theory of the mechanism, provide empirical evidence, evaluate the ability of the quantitative theory to match the evidence, and quantify the relevance for monetary transmission to aggregate investment.

Paraules clau:

Monetary transmission, stock prices, Tobin's q, investment, capital structure

Codis JEL:

D83, E22, E44, E52, G12, G31, G32

Àrea de Recerca:

Macroeconomia i Economia Internacional

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