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.
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Volume (Year): 16 (2009)
Issue (Month): 12 ()
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References listed on IDEAS
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