Firm entry and liquidity

Lenno Uusküla

No 2007-06, Bank of Estonia Working Papers from Bank of Estonia

Abstract: This paper shows that fewer firms enter after a contractionary liquidity shock and that firm entry reacts quicker to liquidity than the economic activity indicator. The results are obtained by using Estonian data for the period 1995M1�2006M7. Various structural VAR and VECM models are exploited to identify the liquidity shock.

Keywords: monetary transmission; firm entry; VAR; VECM; Estonia (search for similar items in EconPapers)
JEL-codes: C32 E52 (search for similar items in EconPapers)
Date: 2007-08-26, Revised 2007-08-26
New Economics Papers: this item is included in nep-ent, nep-mac, nep-mic and nep-tra
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