Paper #1839

Título:

Q-Monetary Transmission

Autores:

Priit Jeenas y Ricardo Lagos

Fecha:

Mayo 2022

Resumen:

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.

Palabras clave:

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

Códigos JEL:

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

Área de investigación:

Macroeconomía y Economía Internacional

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