Online First Journal of Money, Credit and Banking Online 12 Jun 2026Long-Term Debt and Short-Term Rates: Fixed-Rate Mortgages and Monetary TransmissionAlessia De Stefani · Rui C. ManoThis paper uses instrumental-variable local projections (IV-LP) on an unbalanced panel of up to 35 countries over approximately two decades to establish two interconnected findings about fixed-rate …