Is monetary policy becoming less effective?

Ray Fair ()

No 95-05, Working Papers in Applied Economic Theory from Federal Reserve Bank of San Francisco

Abstract: This paper estimates the amount by which the effectiveness of monetary policy in changing real output for a given change in interest rates has declined due to the increased size of the federal government debt.

Keywords: Monetary policy - United States; Debts, Public; Econometric models (search for similar items in EconPapers)
Date: 1995
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Published in Conference on Monetary Policy in a Changing Financial Environment

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http://cowles.econ.yale.edu/P/cd/d10b/d1071.pdf (application/pdf)

Related works:
Working Paper: Is Monetary Policy Becoming Less Effective? (1994)
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