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Romar Correa
''Share buybacks, monetary policy, and crowding out''
( 2021, Vol. 41 No.2 )
We extend the results of Elgouacem and Zago (2020). The authors demonstrate that expansionary monetary policy increases debt issuance and share buybacks on the part of US corporations. The earning per share also increases. We extend their results to the crowding out of capital and labour as a result of the policy stance.
Keywords: employment, investment
JEL: D2 - Production and Organizations: General
E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit: General
Manuscript Received : Feb 14 2021 Manuscript Accepted : Apr 09 2021

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