Working Paper 284

Using Austrian firm data, tighter monetary policy reduces productivity-enhancing investment and firm total factor productivity, with stronger effects among highly leveraged firms.

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Featured in No. 137 on 30 Oct 2026 · 4 days after release

Causal diagram showing monetary policy stance effects on firm productivity through multiple channels. — Figure 2: Direct Effects of Monetary Policy Stance and Shocks on TFP

Released: 26 Oct 2026
First featured: No. 137 · 30 Oct 2026
Published in: Not yet, as far as Semantic Scholar knows
Fanfare: 2 of 5
Identifier: RePEc:onb:oenbwp:284
Authors: Karin Klieber et al.

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