Q-Monetary Transmission

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本研究探讨货币政策引致的托宾q值（Tobin's q）变动对企业投资与资本结构的影响。我们构建了该作用机制的理论模型，提供实证证据，评估量化理论匹配实证证据的能力，并量化其与货币政策的相关性。