Regional VARs and the channels of monetary policy
Michael Owyang () and
Howard Wall ()
No 2006-002, Working Papers from Federal Reserve Bank of St. Louis
We find that the magnitudes of the regional effects of monetary policy were considerably dampened during the Volcker-Greenspan era. Further, regional differences in the depths of monetary-policy-induced recessions are related to the concentration of the banking sector, whereas differences in the total cost of these recessions are related to industry mix.
Keywords: Monetary; policy (search for similar items in EconPapers)
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Journal Article: Regional VARs and the channels of monetary policy (2009)
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