Monetary policy and corporate liquid asset demand /
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Author / Creator: | Choi, Woon Gyu, 1960- |
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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 |
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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 |
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