Turnover liquidity and the transmission of monetary policy

(2020) Turnover liquidity and the transmission of monetary policy American Economic Review, 110 (6). 1635 - 1672. ISSN 0002-8282

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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.

Item Type	Article
Copyright holders	© 2020 American Economic Association
Departments	Economics
DOI	10.1257/aer.20170045
Date Deposited	16 Jun 2020 14:57
Acceptance Date	2018-12-17
URI	https://researchonline.lse.ac.uk/id/eprint/105095

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http://www.scopus.com/inward/record.url?scp=85086102046&partnerID=8YFLogxK (Scopus publication)
http://www.lse.ac.uk/economics/people/faculty/shengxing-zhang (Author)
https://www.aeaweb.org/journals/aer (Official URL)

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