Turnover Liquidity and the Transmission of Monetary Policy
نویسندگان
چکیده
We provide empirical evidence of a novel liquidity-based transmission mechanism through which monetary policy influences asset markets, develop a dynamic stochastic monetary equilibrium model of this mechanism, and use it to assess the ability of the quantitative theory to match the evidence.
منابع مشابه
Taylor Rule: A Model for the Mechanism of Monetary Policy and Inflation Control in the Framework of the Interest-Free Banking Act
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تاریخ انتشار 2016