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🔹firms' plans respond within days to oil supply & monetary policy shocks but not to forward guidance shocks
🔹 effects are strong for small & non-tradeable sector firms
🔹 expectations respond strongly & swiftly, but only to monetary policy
More here 👇:
ideas.repec.org/p/bon/boncrc...
🔹firms' plans respond within days to oil supply & monetary policy shocks but not to forward guidance shocks
🔹 effects are strong for small & non-tradeable sector firms
🔹 expectations respond strongly & swiftly, but only to monetary policy
More here 👇:
ideas.repec.org/p/bon/boncrc...
This allows to use novel high-frequency variation
🔹 for estimating contemporary aggregate effects
🔹 to detect transitory effects-invisible at lower frequency
🔹 to study short-run effects of central bank communication, carbon pricing, or geopolitical tensions,...
This allows to use novel high-frequency variation
🔹 for estimating contemporary aggregate effects
🔹 to detect transitory effects-invisible at lower frequency
🔹 to study short-run effects of central bank communication, carbon pricing, or geopolitical tensions,...