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Paper #1839

Q-Monetary Transmission
Priit Jeenas i Ricardo Lagos
Maig 2022
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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