Trade Credit and the Transmission of Unconventional Monetary Policy
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https://www.nber.org/papers/w27077
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We show that trade credit in production networks is important for the transmission of unconventional monetary policy. We find that firms with bonds eligible for purchase under the European Central Banks Corporate Sector Purchase Program act as financial intermediaries and extend more trade credit to
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美国国家经济研究局创建时间：
2020-05-01
