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Q-Monetary Transmission
- Authors: Priit Jeenas.
- BSE Working Paper: 1348 | May 22
- Keywords: investment , stock prices , Tobin's q , monetary transmission , capital structure
- JEL codes: D83, E22, E44, E52, G12, G31, G32
- investment
- stock prices
- Tobin's q
- monetary transmission
- capital structure
Abstract
We study the effects of monetary-policy-induced changes in Tobin’s q on corporate investment and capital structure. We develop a theory of the mechanism, provide empirical evidence, evaluate the ability of the quantitative theory to match the evidence, and quantify the relevance for monetary transmission to aggregate investment.
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