Regional Effects of Monetary Policy in the Netherlands

Ivo Arnold () and Evert B. Vrugt
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Evert B. Vrugt: Center for Finance, Universiteit Nyenrode, The Netherlands

International Journal of Business and Economics, 2002, vol. 1, issue 2, 123-134

Abstract: This paper measures the impact of monetary policy shocks on regional and sectoral output in the Netherlands for the period 1973 to 1993. We document large regional and sectoral variation in monetary policy transmission. Our results support previous findings that the differential regional effects of monetary policy are significantly related to industrial composition. We also find that sectoral effects account for much more of the variation in interest sensitivity than regional effects. Finally, we explore whether sectors which react more strongly to interest rate shocks are compensated by higher returns.

Keywords: monetary transmission; sectoral effects; regional effects (search for similar items in EconPapers)
JEL-codes: E50 R10 (search for similar items in EconPapers)
Date: 2002
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Citations: View citations in EconPapers (20)

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Persistent link: https://EconPapers.repec.org/RePEc:ijb:journl:v:1:y:2002:i:2:p:123-134

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