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mechanism between 1984 and 1999. In addition, since the year 2000, the initial response of the US economy following a monetary …
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determine the source of the observed change in the monetary transmission mechanism, as well as in the economy's response to …
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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
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