Regional Vars and the Channels of Monetary Policy

Owyang, Michael; Wall, Howard J.

doi:10.2139/ssrn.874065

Regional Vars and the Channels of Monetary Policy

FRB of St. Louis Working Paper No. 2006-002A

10 Pages Posted: 6 Jan 2006

See all articles by Michael Owyang

Michael Owyang

Federal Reserve Bank of St. Louis - Research Division

Howard J. Wall

Lindenwood University - Center for Economics and the Environment

Date Written: January 2006

Abstract

We find that the magnitudes of the regional effects of monetary policy were considerably dampened during the Volcker-Greenspan era. Further, regional differences in the depths of monetary-policy-induced recessions are related to the concentration of the banking sector, whereas differences in the total cost of these recessions are related to industry mix.

Keywords: regional monetary policy

JEL Classification: E52, R12

Suggested Citation: Suggested Citation

Owyang, Michael T. and Wall, Howard J., Regional Vars and the Channels of Monetary Policy (January 2006). FRB of St. Louis Working Paper No. 2006-002A, Available at SSRN: https://ssrn.com/abstract=874065 or http://dx.doi.org/10.2139/ssrn.874065