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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

Abstract: 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)
New Economics Papers: this item is included in nep-cba, nep-mac and nep-mon
Date: 2006
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Journal Article: Regional VARs and the channels of monetary policy (2009) Downloads
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