Turnover Liquidity and the Transmission of Monetary Policy

124 Pages Posted: 2 May 2016 Last revised: 27 Oct 2019

See all articles by Ricardo Lagos

Ricardo Lagos

New York University (NYU) - Department of Economics

Shengxing Zhang

London School of Economics (LSE) - Department of Economics

Multiple version iconThere are 2 versions of this paper

Date Written: September 1, 2018

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.

Keywords: Asset prices; Liquidity; Monetary policy; Monetary transmission

JEL Classification: D83, E52, G12

Suggested Citation

Lagos, Ricardo and Zhang, Shengxing, Turnover Liquidity and the Transmission of Monetary Policy (September 1, 2018). Sloan Foundation Economics Research Paper . Available at SSRN: https://ssrn.com/abstract=2773782 or http://dx.doi.org/10.2139/ssrn.2773782

Ricardo Lagos

New York University (NYU) - Department of Economics ( email )

269 Mercer Street, 7th Floor
New York, NY 10011
United States
212-998-8937 (Phone)

Shengxing Zhang (Contact Author)

London School of Economics (LSE) - Department of Economics ( email )

Houghton Street
London WC2A 2AE
United Kingdom

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