Q-Monetary Transmission
Working Paper 30023
DOI 10.3386/w30023
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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.
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Copy CitationPriit Jeenas and Ricardo Lagos, "Q-Monetary Transmission," NBER Working Paper 30023 (2022), https://doi.org/10.3386/w30023.
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Published Versions
Priit Jeenas & Ricardo Lagos, 2024. "-Monetary Transmission," Journal of Political Economy, vol 132(3), pages 971-1012.