| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP3290 |
| DP3290 Optimal Social Security Design | |
| David Miles; James Sefton | |
| 发表日期 | 2002-03-20 |
| 出版年 | 2002 |
| 语种 | 英语 |
| 摘要 | Using firm-level data, we provide evidence that, although monetary policy affects real investment, the effect operates differentially: the greater its export intensity the less a firm is affected by tight money. We examine several interpretations and conclude that the impact is transmitted primarily through the supply side due to differential access to credit markets. This finding lends support to the commonplace view that monetary policy is less effective the more open the economy. |
| 主题 | International Macroeconomics |
| 关键词 | Interest rate investment Corporate finance Leverage Liquidity Tobin's q Publicly traded firms |
| URL | https://cepr.org/publications/dp3290 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/532315 |
| 推荐引用方式 GB/T 7714 | David Miles,James Sefton. DP3290 Optimal Social Security Design. 2002. |
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