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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