Arbeitspapier
Firm size and monetary policy transmission: evidence from German business survey data
Using business survey data on German manufacturing firms, this paper provides tests for hypotheses formulated in capital market imperfection theories that predict distributional effects in the transmission of monetary policy. The business conditions of small firms are found to be somewhat more sensitive to monetary policy shocks than those of large firms, also when accounting for demand differences. These effects are reinforced in business cycle downturns.
- Sprache
-
Englisch
- Erschienen in
-
Series: CESifo Working Paper ; No. 1201
- Klassifikation
-
Wirtschaft
Monetary Policy
Business Fluctuations; Cycles
Multiple or Simultaneous Equation Models: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
- Thema
-
monetary policy transmission
firm size
Markov switching
Geldpolitik
Transmissionsmechanismus
Betriebsgröße
Schock
Konjunkturumfrage
Theorie
Deutschland
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Ehrmann, Michael
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2004
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:41 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Ehrmann, Michael
- Center for Economic Studies and ifo Institute (CESifo)
Entstanden
- 2004
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