Firm size and monetary policy transmission : evidence from German business survey data

Abstract

The survey data used in this paper was provided by CESifo, Munich. This paper is a revised version of ECB Working Paper No. 21. I would like to thank Mike Artis, Frank Browne, Stephen Cecchetti, Martin Ellison, Matteo Iacoviello, Benoît Mojon, Gabriel Perez Quiros, Frank Smets and Philip Vermeulen for helpful discussions, seminar participants at the Deutsche Bundesbank for comments and Anders Warne and Henrik Hansen for sharing their econometrics code. The views expressed are the author’s and do not necessarily reflect those of the European Central Bank.