American Economic Review Vol. 110 No. 6 2020

Turnover Liquidity and the Transmission of Monetary Policy

Ricardo Lagos¹; Shengxing Zhang²

¹ Department of Economics, New York University (email: ) · ² Department of Economics, London School of Economics (email: )

Abstract

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.

DOI

10.1257/aer.20170045

Volume

110

Issue

6

Pages

1635-1672

Language

en

Sources

bibtex:phds-export.bib crossref openalex

Cite

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