Aysun, Uluc; Brady, Ryan; Honig, Adam - In: Journal of International Money and Finance 32 (2013) C, pp. 1097-1119
This paper examines the effect of financial frictions on the strength of the monetary transmission mechanism. Credit … financial frictions, all else equal. The intuition is that in these countries, external finance premiums are more sensitive to … for the strength of monetary transmission. We find a positive relationship between various measures of financial frictions …