The Differential Regional Effects Of Monetary Policy

Gerald Carlino and Robert Defina

The Review of Economics and Statistics, 1998, vol. 80, issue 4, 572-587

Abstract: This paper examines whether monetary policy has similar effects across regions in the United States. Impulse response functions from an estimated structural vector autoregression reveal a core of regions - New England, Mideast, Plains, Southeast, and the Far West - that respond to monetary policy changes in ways that closely approximate the U.S. average response. Of the three noncore regions, one (Great Lakes) is noticeably more sensitive to monetary policy changes, and two (Southwest and Rocky Mountains) are found to be much less sensitive. A state-level version of the model is estimated and used to provide evidence on the channels for monetary policy. © 1998 by the President and Fellows of Harvard College and the Massachusetts Institute of Technolog

Date: 1998
References: Add references at CitEc
Citations: View citations in EconPapers (291)

Downloads: (external link)
http://www.mitpressjournals.org/doi/pdf/10.1162/003465398557843 (application/pdf)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:tpr:restat:v:80:y:1998:i:4:p:572-587

Ordering information: This journal article can be ordered from
https://mitpressjour ... rnal/?issn=0034-6535

Access Statistics for this article

The Review of Economics and Statistics is currently edited by Pierre Azoulay, Olivier Coibion, Will Dobbie, Raymond Fisman, Benjamin R. Handel, Brian A. Jacob, Kareen Rozen, Xiaoxia Shi, Tavneet Suri and Yi Xu

More articles in The Review of Economics and Statistics from MIT Press
Bibliographic data for series maintained by The MIT Press ().