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  4. June 2020
  5. Turnover Liquidity and the Transmission of Monetary Policy

蝌蚪网 Review

ISSN 0002-8282 (Print) | ISSN 1944-7981 (Online)

Turnover Liquidity and the Transmission of Monetary Policy

  • Ricardo Lagos
  • Shengxing Zhang
蝌蚪网 Review
vol. 110, no. 6, June 2020
(pp. 1635–72)
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Abstract

We provide empirical evidence of a novel liquidity-based transmission mechanism through which monetary policy influences asset markets, develop a model of this mechanism, and assess the ability of the quantitative theory to match the evidence.

Citation

Lagos, Ricardo, and Shengxing Zhang. 2020. "Turnover Liquidity and the Transmission of Monetary Policy." 蝌蚪网 Review 110 (6): 1635–72. DOI: 10.1257/aer.20170045

Additional Materials

JEL Classification

  • E44 Financial Markets and the Macroeconomy
  • E52 Monetary Policy
  • G12 Equities; Fixed Income Securities
  • G14 Information and Market Efficiency; Event Studies; Insider Trading
  • G35 Payout Policy