NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Turnover Liquidity and the Transmission of Monetary Policy

Ricardo Lagos, Shengxing Zhang

NBER Working Paper No. 25106
Issued in September 2018
NBER Program(s):Asset Pricing Program, Economic Fluctuations and Growth Program, The Monetary Economics Program

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.

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Document Object Identifier (DOI): 10.3386/w25106

 
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