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|c 5.00 USD
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|z 9781513571584
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Young Firms and Monetary Policy Transmission.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2021.
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| 300 |
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|a 1 online resource (64 pages)
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|a IMF Working Papers
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| 500 |
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a We investigate the role of business dynamism in the transmission of monetary policy by exploitingthe variation in firm demographics across U.S. states. Using local projections, we find that a larger fraction of young firms significantly mutes the effects of monetary policy on the labor market and personal income over the medium term. The firm entry rate and the employment share of young firms are key factors underpinning these results, which are robust to a battery of robustness tests. We develop a heterogeneous-firm model with age-dependent financial frictions that rationalizes the empirical evidence.
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| 538 |
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|a Mode of access: Internet
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| 650 |
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|a Business Dynamism
|2 imf
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| 650 |
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|a Firm Demographics
|2 imf
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| 650 |
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|a Local Projections
|2 imf
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| 650 |
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|a Monetary Policy
|2 imf
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| 830 |
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|a IMF Working Papers; Working Paper ;
|v No. 2021/063
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2021/063/001.2021.issue-063-en.xml
|z IMF e-Library
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