Regional VARs and the channels of monetary policy
We find that the magnitudes of the regional effects of monetary policy were considerably dampened during the Volcker-Greenspan era. For this era, regional differences in the depths and total costs of monetary-policy-induced recessions were related to the concentration of the banking sector.
|Year of publication:||
|Authors:||Owyang, Michael ; Wall, Howard|
Applied Economics Letters. - Taylor & Francis Journals, ISSN 1350-4851. - Vol. 16.2009, 12, p. 1191-1194
Taylor & Francis Journals
|Type of publication:||Article|