Ferrando, Annalisa; Grazzini, Caterina Forti - 2023
and the central bank information shock) have different impacts on firms' beliefs. Fourth, we find that conventional and …, with a contractionary shock leading to a downward revision of expectations. Second, we show that firms' response depends on … the size and the sign of the shock, with only large and contractionary shocks having a significant negative effect on …