Turnover Liquidity and the Transmission of Monetary Policy

Creator

• Lagos, Ricardo
• Zhang, Shengxing

Series

• Working paper (Federal Reserve Bank of Minneapolis. Research Department)

Issue number

• 734

Date Created

• 2018-09-20

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.

Subject (JEL)

• G12 - Asset Pricing; Trading Volume; Bond Interest Rates
• D83 - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
• E52 - Monetary Policy

Mot-clé

• Liquidity
• Monetary transmission
• Monetary policy
• Asset prices

Corporate Author

• Federal Reserve Bank of Minneapolis. Research Department

Publisher

• Federal Reserve Bank of Minneapolis

Resource type

• Research Paper

DOI

•  https://doi.org/10.21034/wp.734

License

• Creative Commons BY-NC Attribution-NonCommercial 4.0 International

Des relations

Dans Collection:

• Working Papers

Dernière modification

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