Monetary Policy and Corporate Liquid Asset Demand

Monetary Policy and Corporate Liquid Asset Demand
In contrast to conventional money demand literature, this paper proposes that monetary policy affects corporate liquidity demand directly through a separate channel-what we call "the loan commitment channel." Upon persistent monetary policy shocks, firms make substitutions between sources of funds for intertemporal liquidity management, taking... READ MORE...

Publication date: November 2001
ISBN 9781451858877
$15.00

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