Authors
Turnover Liquidity and the Transmission of Monetary Policy
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.
Published in _American Economic Review_, (vol. 110, no. 6, June 2020, pp.1635-1672), https://doi.org/10.1257/aer.20170045.
