Christiano, Lawrence J.; Eichenbaum, Martin; Evans, … - 2022
This paper uses the Flow of Funds accounts to assess the impact of a monetary policy shock on the borrowing and lending … generate sharp, persistent declines in commodity prices and (iv) the GDP price deflator does not respond to them for roughly a … sectors can be summarized as follows. First, following a contractionary shock to monetary policy, net funds raised by the …