The New Keynesian model, augmented with the working capital channel, predicts that a rise in the policy rate causes firms that use more working capital to increase their prices more, and that the pass-through is gradual because of price rigidity. Using a unique dataset on firm-product-level...

In this paper I study effects of a monetary policy shock on industries through Publicly Traded Firms in Peru. For this purpose I elaborate a new measure of a monetary policy shock, correcting two possible risks as the endogeneity that a monetary policy shock may have with the economic activity...

In this paper I study the heterogeneous effects of a monetary policy shock on industries through Publicly Traded Firms in Peru. For this purpose I elaborate five types of measures of a monetary policy shock, four of these measures try to correct two possible risks as the endogeneity that a...