Heterogeneous Effects of Monetary Policy on Industries

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Abstract

This paper elaborates a new measure of a monetary policy shock, with profitability of firms measured as the ratio between Net Income and Total Assets and Net Profits. Using Local Projections methodology, I examine the heterogeneous effects of monetary policy across industries in Peru using publicly traded firm data.

Keywords

Monetary Policy, Peru, Firm-Level Analysis, Heterogeneity, Local Projections