This paper evaluates and compares the effects of conventional and unconventional monetarypolicies on the corporate debt structure in the United States. It does so by using a vectorautoregression in which policy shocks are identified through high-frequency external instruments.Our results show...

We study how differences in the aggregate structure of corporate debt financing affect the transmission of monetary policy. Using high-frequency financial market data to identify monetary policy shocks in a panel of euro area countries, we find that: bond finance dampens the overall response of...

We study how differences in the aggregate structure of corporate debt financing affect the transmission of monetary policy. Using high-frequency financial market data to identify monetary policy shocks in a panel of euro area countries, we find that: bond finance dampens the overall response of...

We study how differences in the aggregate structure of corporate debt affect the transmission of monetary policy in a panel of euro area countries. We find that standard policy tightening shocks raise the cost of loans relative to corporate bonds. In economies with a high share of bond finance,...

We study how differences in the aggregate structure of corporate debt affect the transmission of monetary policy in a panel of euro area countries. Consistent with the bank lending view of transmission, we find the cost of bank loans to rise relative to the cost of corporate bonds in response to...

We study how differences in the aggregate structure of corporate debt financing affect the transmission of monetary policy. Using high-frequency financial market data to identify monetary policy shocks in a panel of euro area countries, we find that: bond finance dampens the overall response of...