banquedefranceBanque de France127896424661375795407/03/2020 - 10:10Managers exploit expansionary monetary #policy to repurchase their own shares. This behavior diverts resources from #investment and #employment such that the transmission of monetary policy on real variables is attenuated at firm-level #BdFeco WP ⤵ https://t.co/0JhP2F3OhG