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Introduction
Corporate Debt Covenants in Australia
Direct Effects of Covenants
Indirect Effects of Covenants – Monetary Policy Transmission
Aggregate Effects of Covenant Composition
Conclusion
Appendix A: Construction of Debt Covenants Data
Appendix B: Other Descriptive Statistics
Appendix C: Trends before and after Treatments
Appendix D: Direct Effects – Robustness Checks
Appendix E: Monetary Policy Shocks
Appendix F: Average Partial Responses Relative to 2003
Appendix G: Trends Using Restricted Sample and Breaching Rates
References

RDP 2022-05: The Real Effects of Debt Covenants: Evidence from Australia Appendix E: Monetary Policy Shocks

Kim Nguyen

October 2022

Download the Paper 1,648KB

Figure E1: Monetary Policy Shocks for Australia

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