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- W2069364023 abstract "Abstract This paper explores whether a limited participation model modified to include features of the bank lending channel can account for the empirically observed reaction of stock market returns to monetary policy shocks. When calibrated to match characteristics of US data, the model generates responses that broadly match the empirical counterparts. The results also suggest, that the higher exposure of bank-dependent firms to liquidity shocks generates substantial heterogeneity of the responses across firms." @default.
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- W2069364023 date "2008-01-01" @default.
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- W2069364023 title "Bank lending and the stock market's response to monetary policy shocks" @default.
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- W2069364023 doi "https://doi.org/10.1016/j.iref.2007.01.002" @default.
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