As shown in figure 7, those indicators include the quits rate (the short-dashed blue line), household perceptions of job availability (the short-and-longdashed green line), the jobs opening rate (the long-dashed red line), and the percentage of small firms finding it hard to fill jobs (the solid black line).
The study of monetary policy transmission should be attentive to the micro foundation, and to the sensitivity, speed and effects of banks’ and other financial institutions’ response to monetary policy. Only with a sound micro foundation, could monetary policy transmission mechanism be improved.