Monetary Policy and Corporate Liquid Asset Demand /
In contrast to conventional money demand literature, this paper proposes that monetary policy affects corporate liquidity demand directly through a separate channel-what we call "the loan commitment channel." Upon persistent monetary policy shocks, firms make substitutions between sources...
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| Format: | Journal |
| Language: | English |
| Published: |
Washington, D.C. :
International Monetary Fund,
2001.
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| Series: | IMF Working Papers; Working Paper ;
No. 2001/177 |
| Online Access: | Full text available on IMF |