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Financial Heterogeneity and the Investment Channel of Monetary ...
Financial Heterogeneity and the Investment Channel of Monetary ...
Abstract. We study the role of financial frictions and firm heterogeneity in determining the investment channel of monetary policy. Empirically, ...
Financial Heterogeneity and the Investment Channel of Monetary ...
We study the role of financial frictions and firm heterogeneity in determining the investment channel of monetary policy. Empirically, we find that firms with ...
Financial Heterogeneity and the Investment Channel of Monetary ...
KEYWORDS: Monetary policy, firm heterogeneity, investment, financial frictions,. New Keynesian. 1. INTRODUCTION. AGGREGATE INVESTMENT is one of the most ...
Financial Heterogeneity and the Investment Channel of Monetary ...
Abstract. We study the role of financial frictions and firm heterogeneity in determining the investment channel of monetary policy. Empirically, we find that ...
We study the role of heterogeneity in firms' financial positions in determining the in- vestment channel of monetary policy. In the data, firms ...
Financial Heterogeneity and the Investment Channel of Monetary ...
Financial Heterogeneity and the Investment Channel of Monetary Policy · View/Open · Citation · Publisher · ISSN · Other DOIs · Types · Handle · Metadata.
• What is the role of financial heterogeneity in monetary transmission? 1. Page ... The Investment Channel of Monetary Policy. Leeper, Sims and Zha (1996); ...
Online Appendix for "Financial Heterogeneity and the Investment ...
ONLINE APPENDIX FOR “FINANCIAL HETEROGENEITY AND THE. INVESTMENT CHANNEL OF MONETARY POLICY”. (Econometrica, Vol. 88, No. 6, November 2020 ...
Financial Heterogeneity and the Investment Channel of Monetary ...
By Thomas Winberry and Pablo Ottonello; Abstract: We study the heterogeneous effects of monetary policy on firm-level investment and their ...
Financial Heterogeneity and the Investment Channel of Monetary ...
Firms “with high default risk are less responsive to monetary shocks because their marginal cost of external finance is high. The aggregate ...
Monetary policy, investment and firm heterogeneity - ScienceDirect
We show that the reaction of firms' investment to a monetary policy shock is heterogeneous along dimensions that correspond to the two main channels of monetary ...
Financial Heterogeneity, Investment, and Firm Interactions in
The “competitive interaction channel” underscored in this paper may play an important role in mitigating the impact of negative shocks in ...
Financial Heterogeneity, Investment, and Firm Interactions
The “competitive interaction channel” underscored in this paper may play an important role in mitigating the impact of negative shocks in ...
Online Appendix for “Financial Heterogeneity and the Investment ...
Online Appendix for “Financial Heterogeneity and the Investment Channel of Monetary Policy” by Pablo Ottonello and Thomas Winberry A Empirical Specification.
3 This financial friction generates heterogeneity in the responsiveness of firms' investment to monetary shocks according to leverage. We ...
... Monetary Policy, Corporate Finance and Investment”. Thomas Winberry, Chicago Booth: "Financial Heterogeneity and the Investment Channel of Monetary Policy" ...
Discussion of“Financial Heterogeneity and the Investment Channel ...
Discussion of“Financial Heterogeneity and the. Investment Channel of Monetary Policy” by Pablo Ottonello and Tom Winberry. Adrien Auclert.
The strength and importance of the credit channel depends on the sensitivity of external finance premia, which are unfortunately unobservable. The financial ...
Monetary policy, investment and firm heterogeneity
The strength and importance of the credit channel depends on the sensitivity of external finance premia, which are unfortunately unobservable. The financial ...
Financial Heterogeneity and the Investment Channel of Monetary ...
Financial Heterogeneity and the Investment Channel of Monetary Policy ... Money Macro Seminar. University of Pennsylvania. 3718 Locust Walk