firm level investment and high-frequency identified monetary policy shocks. We show that the reaction of firms' investment …

We contrast how monetary policy affects intangible relative to tangible investment. We document that the stock prices … total investment in firms with more intangible assets responds less to monetary policy, and that intangible investment … responds less to monetary policy compared to tangible investment. We identify two mechanisms behind these results. First, firms …

heterogeneous firms and financial frictions. In the model, firms with a high return to capital increase their investment more …

the impulse responses of investment, savings, consumption, and the output gap to an expansionary monetary policy shock …

output changes. In the euro area investment is the predominant driver of output changes, while in the U.S. consumption shifts … investment, as the proximate cause for this fact, the source of the consumption difference remains a puzzle. …

Increased investment in clean electricity generation or the introduction of a carbon tax will most likely lead to …-level data, we find that rising electricity prices lead to a negative impact on labor demand and investment in sectors most …