Monetary Policy through Production Networks: Evidence from the Stock Market
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Monetary policy shocks have a large impact on stock returns in narrow windows around press releases by the Federal Reserve. We use spatial autoregressions to decompose the overall effect of monetary policy shocks into a direct effect and an indirect (network) effect. We attribute 50%-85% of the
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美国国家经济研究局创建时间：
2017-05-01
