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A pattern of regional differences in the effects of monetary policy

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  • Theodore M. Crone

Abstract

Although there is only one national monetary policy, that does not mean that monetary policy does not affect some regions of the country more than others. We know that business cycles differ across states and regions, and a number of studies have examined how monetary policy may affect regions differently and why. A review of these studies reveals that certain parts of the country are consistently more affected by monetary policy than others. Identifying the reasons for regional differences in the effects of monetary policy may help us better understand how changes in monetary policy ripple through the economy. In ?A Pattern of Regional Differences in the Effects of Monetary Policy,? Ted Crone reviews where the research has brought us so far.

Suggested Citation

  • Theodore M. Crone, 2007. "A pattern of regional differences in the effects of monetary policy," Business Review, Federal Reserve Bank of Philadelphia, issue Q3, pages 9-19.
    • Handle: RePEc:fip:fedpbr:y:2007:i:q3:p:9-19
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    File URL: https://www.philadelphiafed.org/-/media/frbp/assets/economy/articles/business-review/2007/q3/crone_pattern-regional-differences.pdf
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    Citations

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    Cited by:

    1. Beckworth, David, 2010. "One nation under the fed? The asymmetric effects of US monetary policy and its implications for the United States as an optimal currency area," Journal of Macroeconomics, Elsevier, vol. 32(3), pages 732-746, September.
    2. Yang, Zan & Wang, Songtao & Campbell, Robert, 2010. "Monetary policy and regional price boom in Sweden," Journal of Policy Modeling, Elsevier, vol. 32(6), pages 865-879, November.
    3. Hasan Engin DURAN & Umut ERDEM, 2014. "Regional Effects Of Monetary Policy: Turkey Case," Regional and Sectoral Economic Studies, Euro-American Association of Economic Development, vol. 14(1), pages 133-144.
    4. Millar, Jonathan N. & Oliner, Stephen D. & Sichel, Daniel E., 2016. "Time-to-plan lags for commercial construction projects," Regional Science and Urban Economics, Elsevier, vol. 59(C), pages 75-89.
    5. Angeliki ANAGNOSTOU & Stephanos PAPADAMOU, 2014. "The Impact Of Monetary Shocks On Regional Output: Evidence From Four South Eurozone Countries," Region et Developpement, Region et Developpement, LEAD, Universite du Sud - Toulon Var, vol. 39, pages 105-130.
    6. Kinfemichael, Bisrat & Morshed, A.K.M. Mahbub, 2019. "Convergence of labor productivity across the US states," Economic Modelling, Elsevier, vol. 76(C), pages 270-280.

    More about this item

    Keywords

    Regional economics; Monetary policy;

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