Monetary policy and corporate liquid asset demand /

Saved in:
Bibliographic Details
Author / Creator:Choi, Woon Gyu, 1960-
Imprint:[Washington, D.C.] : International Monetary Fund, IMF Institute, ©2001.
Description:1 online resource (40 pages)
Language:English
Series:IMF working paper, 2227-8885 ; WP/01/177
IMF working paper ; WP/01/177.
Subject:
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/12497596
Hidden Bibliographic Details
Other authors / contributors:Kim, Yungsan.
International Monetary Fund.
IMF Institute.
ISBN:1451904231
9781451904239
1462358934
9781462358939
1452782474
9781452782478
1282108603
9781282108608
9786613801951
661380195X
Notes:Includes bibliographical references (pages 37-40).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
English.
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
Summary:In contrast to conventional money demand literature, this paper proposes that monetary policy affects corporate liquidity demand directly through a separate channel-what we call "the loan commitment channel." Upon persistent monetary policy shocks, firms make substitutions between sources of funds for intertemporal liquidity management, taking advantage of loan commitments and sluggish movements in loan rates. To test this proposition, we estimate corporate liquidity demand, controlling for firm characteristics, using U.S. quarterly panel data. The results indicate that when monetary policy is tightened, S & P 500 firms initially increase their liquid assets before reducing them, whereas non-S & P firms reduce them more quickly
Other form:Print version: Choi, Woon Gyu, 1960- Monetary policy and corporate liquid asset demand. [Washington, D.C.] : International Monetary Fund, IMF Institute, ©2001
Standard no.:10.5089/9781451904239.001

MARC

LEADER 00000cam a2200000 a 4500
001 12497596
006 m o d
007 cr bn||||||abp
007 cr bn||||||ada
008 100712s2001 dcu ob i000 0 eng d
005 20240822221504.3
019 |a 801659847  |a 815734865  |a 817795979  |a 889192911  |a 1060864570  |a 1073067052  |a 1103549573  |a 1107336058  |a 1144359189  |a 1202565819 
020 |a 1451904231 
020 |a 9781451904239 
020 |a 1462358934 
020 |a 9781462358939 
020 |a 1452782474 
020 |a 9781452782478 
020 |a 1282108603 
020 |a 9781282108608 
020 |a 9786613801951 
020 |a 661380195X 
024 8 |a 10.5089/9781451904239.001 
035 9 |a (OCLCCM-CC)647684618 
035 |a (OCoLC)647684618  |z (OCoLC)801659847  |z (OCoLC)815734865  |z (OCoLC)817795979  |z (OCoLC)889192911  |z (OCoLC)1060864570  |z (OCoLC)1073067052  |z (OCoLC)1103549573  |z (OCoLC)1107336058  |z (OCoLC)1144359189  |z (OCoLC)1202565819 
037 |b 00013468 
040 |a OCLCE  |b eng  |e pn  |c OCLCE  |d CUS  |d OCLCQ  |d OCLCO  |d OCLCQ  |d LLB  |d OCLCQ  |d OCLCO  |d OCLCF  |d CEF  |d UWO  |d VT2  |d OCLCQ  |d SFB  |d OCLCQ  |d OCLCO 
042 |a dlr 
049 |a MAIN 
050 4 |a HG3881.5.I58  |b W67 no.01/177 
100 1 |a Choi, Woon Gyu,  |d 1960-  |0 http://id.loc.gov/authorities/names/no96028709 
245 1 0 |a Monetary policy and corporate liquid asset demand /  |c Woon Gyu Choi and Yungsan Kim. 
260 |a [Washington, D.C.] :  |b International Monetary Fund, IMF Institute,  |c ©2001. 
300 |a 1 online resource (40 pages) 
336 |a text  |b txt  |2 rdacontent 
337 |a computer  |b c  |2 rdamedia 
338 |a online resource  |b cr  |2 rdacarrier 
490 1 |a IMF working paper,  |x 2227-8885 ;  |v WP/01/177 
504 |a Includes bibliographical references (pages 37-40). 
588 0 |a Print version record. 
506 |3 Use copy  |f Restrictions unspecified  |2 star  |5 MiAaHDL 
533 |a Electronic reproduction.  |b [Place of publication not identified] :  |c HathiTrust Digital Library,  |d 2010.  |5 MiAaHDL 
538 |a Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.  |u http://purl.oclc.org/DLF/benchrepro0212  |5 MiAaHDL 
583 1 |a digitized  |c 2010  |h HathiTrust Digital Library  |l committed to preserve  |2 pda  |5 MiAaHDL 
520 3 |a In contrast to conventional money demand literature, this paper proposes that monetary policy affects corporate liquidity demand directly through a separate channel-what we call "the loan commitment channel." Upon persistent monetary policy shocks, firms make substitutions between sources of funds for intertemporal liquidity management, taking advantage of loan commitments and sluggish movements in loan rates. To test this proposition, we estimate corporate liquidity demand, controlling for firm characteristics, using U.S. quarterly panel data. The results indicate that when monetary policy is tightened, S & P 500 firms initially increase their liquid assets before reducing them, whereas non-S & P firms reduce them more quickly 
546 |a English. 
650 0 |a Monetary policy  |x Econometric models. 
650 0 |a Liquid assets  |x Econometric models. 
650 0 |a Liquidity (Economics)  |x Econometric models. 
650 0 |a Corporations  |x Finance  |x Econometric models. 
650 6 |a Politique monétaire  |x Modèles économétriques. 
650 6 |a Liquidité (Économie politique)  |x Modèles économétriques. 
650 7 |a Corporations  |x Finance  |x Econometric models.  |2 fast  |0 (OCoLC)fst00879850 
650 7 |a Liquidity (Economics)  |x Econometric models.  |2 fast  |0 (OCoLC)fst00999685 
650 7 |a Monetary policy  |x Econometric models.  |2 fast  |0 (OCoLC)fst01025234 
700 1 |a Kim, Yungsan. 
710 2 |a International Monetary Fund.  |0 http://id.loc.gov/authorities/names/n81052755 
710 2 |a IMF Institute.  |0 http://id.loc.gov/authorities/names/n81065613 
776 0 8 |i Print version:  |a Choi, Woon Gyu, 1960-  |t Monetary policy and corporate liquid asset demand.  |d [Washington, D.C.] : International Monetary Fund, IMF Institute, ©2001  |w (OCoLC)48541764 
830 0 |a IMF working paper ;  |v WP/01/177.  |0 http://id.loc.gov/authorities/names/no89010263 
856 4 0 |u http://elibrary.imf.org/view/journals/001/2001/177/001.2001.issue-177-en.xml  |y INTERNATIONAL MONETARY FUND 
929 |a oclccm 
999 f f |i 0f015ae9-cb65-53d8-ba0b-3749c7c7d009  |s 6c42eaf2-c8f1-54cd-995f-97428f5ee230 
928 |t Library of Congress classification  |a HG3881.5.I58W67 no.01/177  |l Online  |c UC-FullText  |u http://elibrary.imf.org/view/journals/001/2001/177/001.2001.issue-177-en.xml  |z INTERNATIONAL MONETARY FUND  |g ebooks  |i 12141634