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One nation under the fed? The asymmetric effects of US monetary policy and its implications for the United States as an optimal currency area

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  • Beckworth, David

Abstract

Is the United States best served by a single currency? This question is explored in this paper by looking at the regional effects of US monetary policy shocks through the perspective of the optimal currency area framework. Using monthly state-level data for the period 1983:1-2008:3, this paper finds that some regions of the United States during this time may have benefited from having their own currency.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Macroeconomics.

Volume (Year): 32 (2010)
Issue (Month): 3 (September)
Pages: 732-746

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Handle: RePEc:eee:jmacro:v:32:y:2010:i:3:p:732-746

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Web page: http://www.elsevier.com/locate/inca/622617

Related research

Keywords: Optimal currency area Regional effects of monetary policy US monetary policy Vector autoregressions;

References

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Cited by:
  1. Masagus M. Ridhwan & Henri L.F. de Groot & Piet Rietveld & Peter Nijkamp, 2011. "The Regional Impact of Monetary Policy in Indonesia," Tinbergen Institute Discussion Papers 11-081/3, Tinbergen Institute.
  2. Stefano Magrini & Margherita Gerolimetto & Hasan Engin Duran, 2011. "Understanding the lead/lag structure among regional business cycles," Working Papers 2011_06, Department of Economics, University of Venice "Ca' Foscari".

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