Turnover Liquidity and the Transmission of Monetary Policy

56 Pages Posted: 1 Oct 2018

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

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Date Written: September 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.

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Suggested Citation

Lagos, Ricardo and Zhang, Shengxing, Turnover Liquidity and the Transmission of Monetary Policy (September 2018). NBER Working Paper No. w25106. Available at SSRN: https://ssrn.com/abstract=3258204

Ricardo Lagos (Contact Author)

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

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Shengxing Zhang

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

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London WC2A 2AE
United Kingdom

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