Working Paper No. 133
January 01, 1995

Monetary Policy, Stock Returns, and the Role of Credit in the Transmission of Monetary Policy

by Lee Coppock and Willem Thorbecke

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Working Paper No. 133
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Bard College
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The Levy Economics Institute of Bard College, founded in 1986 through the generous support of Bard College trustee Leon Levy, is a nonprofit, nonpartisan, public policy research organization. The Levy Institute is independent of any political or other affiliation, and encourages diversity of opinion in the examination of economic policy issues while striving to transform ideological arguments into informed debate.

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