WebWe interpret these findings using a heterogeneous firm New Keynesian model with default risk. In our model, low-risk firms are more responsive to monetary shocks because they face a flatter marginal cost curve for financing investment. The aggregate effect of monetary policy may therefore depend on the distribution of default risk, which varies ... WebThe debate surrounding climate change mitigation measures has lately also extended to central bank instruments. One of the points under discussion is the preferential treatment of green bonds in central bank monetary policy operations. This would improve the financing conditions of firms with low emissions and thus create an incentive for green …
How does monetary policy affect investment in the euro area?
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U.S., UK, EU officials met with financial firms on Russian sanctions ...
WebIn this paper, I investigate whether the effects of monetary policy on firm investment can be transmitted through leverage. I find that monetary contractions reduce the growth of investment more for highly leveraged firms than for less leveraged firms. WebNov 20, 2024 · We study the role of financial frictions and firm heterogeneity in determining the investment channel of monetary policy. Empirically, we find that firms with low … Webmonetary policy transmission mechanisms for the big euro area economies and provide evidence in favour of a rather heterogeneous reaction of rm investment to changes in … glass enclosure for balcony