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. But a seeming puzzle arises of opposite Tobin-like inflation effects because theory indicates a negative Tobin effect when …
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Using business survey data on German manufacturing firms, this paper provides tests for hypotheses formulated in capital market imperfection theories that predict distributional effects in the transmission of monetary policy. The business conditions of small firms are found to be somewhat more...
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quantitative framework of money allocation between consumers and firms. The quantitative results show that incorporating firm money …
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This paper studies the role of the financial sector in a↵ecting domestic resource allocation and cross-border capital …
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