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everyday experiences. Our Gallup World Poll sample includes one million people in 138 nations over 12 years. Unemployment and …
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We contrast how monetary policy affects intangible relative to tangible investment. We document that the stock prices of firms with more intangible assets react less to monetary policy shocks, as identified from Fed Funds futures movements around FOMC announcements. Consistent with the stock...
Persistent link: https://www.econbiz.de/10012828075
We document that intangible investment responds less to monetary policy compared to tangible investment. Likewise, monetary policy has a smaller effect on the total investment and stock prices of firms with more intangible assets. This novel heterogeneity in monetary policy transmission is most...
Persistent link: https://www.econbiz.de/10012832841
We contrast how monetary policy affects intangible relative to tangible investment. We document that the stock prices of firms with more intangible assets react less to monetary policy shocks, as identified from Fed Funds futures movements around FOMC announcements. Consistent with the stock...
Persistent link: https://www.econbiz.de/10012244772