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Local responses to a global monetary policy: The regional structure of financial systems

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Author Info
Juan Jose de Lucio ()
Abstract

This paper contrast the existence of different regional effects of an homogeneous monetary policy and study the local characteristics that underlie these differential responses. To this purpose I use regional data and estimate a structural vector autoregression model (VAR) to characterize the different regional responses. Afterwards I use the estimated responses to analyze if the responses depends on the regional characteristics of the financial system, like industry composition, firms size or banking sector composition.

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File URL: http://www-sre.wu-wien.ac.at/ersa/ersaconfs/ersa98/papers/249.pdf
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Paper provided by European Regional Science Association in its series ERSA conference papers with number ersa98p249.

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Date of creation: Aug 1998
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Handle: RePEc:wiw:wiwrsa:ersa98p249

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