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Responding to the increased attention on the distributional aspects of monetary policy, we investigate the reallocation … innovative firms because menu-cost burdens are relatively heavier for less innovative firms. This reallocation effect yields a …
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Under the influence of major random events such as US-China trade dispute and the coronavirus (COVID-19) outbreak, the uncertainty of macroeconomic regulation has also risen significantly. Then, what role economic policy level shocks and uncertainty shocks play in industrial regulation need to...
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monetary policy shock depends on the degree of economic regulation in different markets. In particular, financial (product … for 19 OECD countries. Our empirical results support the theory. We therefore conclude that following a monetary policy …
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