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Firm heterogeneity, capital misallocation and optimal monetary policy
González, Beatriz; Nuño, Galo; Thaler, Dominik; … - 2021
their productivity and net worth and face collateral constraints that cause capital misallocation. TFP endogenously depends … equilibrium, general-equilibrium effects overturn this result: a monetary expansion increases the investment of high-productivity … firms relatively more than that of low-productivity ones, crowding out the latter and increasing TFP. We provide empirical …
Persistent link: https://www.econbiz.de/10012697125
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The monetary policy, credit constraint and spatial distribution of economic activity : a contribution of new economic geography
Jafari-Samimi, Ahmad; Rasekhi, Saeed; Asadi, Peyman - In: Iranian economic review : journal of University of Tehran 23 (2019) 1, pp. 1-27
Persistent link: https://www.econbiz.de/10012152532
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Firm entry, firm heterogeneity, and monetary policy
Weber, Henning - 2010 - Very preliminary draft
Persistent link: https://www.econbiz.de/10008907411
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Firm heterogeneity, financial development, foreign direct investment, and monetary policy
Zhang, Jiarui - 2012
Persistent link: https://www.econbiz.de/10009549759
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Monetary policy, firm heterogeneity, and product variety
Hamano, Masashige; Zanetti, Francesco - 2021
Persistent link: https://www.econbiz.de/10012585937
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Labor-intensive firms are a catalyst for monetary policy and its distributive effects
Fritsche, Jan Philipp - In: DIW weekly report : economy, politics, science : a … 11 (2021) 35/36, pp. 261-266
The mandate of the European Central Bank’s monetary policy is to ensure price stability. Interest rate changes by the ECB affect labor costs and the value added of firms. If both dimensions are not equally affected, monetary policy has a distributive effect between workers and shareholders....
Persistent link: https://www.econbiz.de/10012624800
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Zooming in on monetary policy : the labor share and production dynamics of two million firms
Fritsche, Jan Philipp; Steininger, Lea - 2021 - This version: August 18, 2021
Conditional on a contractionary monetary policy shock, the labor share of value added is expected to decrease in the basic New Keynesian model. By providing firm-level evidence, we are first to validate this proposition. Using local projections and high dimensional fixed effects, we show that a...
Persistent link: https://www.econbiz.de/10012607460
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Monetary policy, firm heterogeneity, and product variety
Hamano, Masashige; Zanetti, Francesco - 2021
Persistent link: https://www.econbiz.de/10012501529
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Monetary policy, firm heterogeneity, and productvariety
Hamano, Masashige; Zanett, Francesco - 2020
Persistent link: https://www.econbiz.de/10012285658
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Firm heterogeneity and the transmission of central bank credit policy
Kuhmann, Konrad - 2023
I study the role of firm heterogeneity for the transmission of unconventional monetary policy in the form of "credit policy" à la Gertler and Karadi (2011). To this end, I lay out a Two-Agent New-Keynesian model with financially constrained and unconstrained firms and a financial intermediary...
Persistent link: https://www.econbiz.de/10014234463