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Do states respond differently to changes in monetary policy?

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  • Gerald A. Carlino
  • Robert H. DeFina

Abstract

Do the proportion of interest-sensitive industries, the number of small firms, and the concentration of small banks determine how monetary policy influences state economies? In this article, Jerry Carlino and Bob DeFina extend to the state level their earlier study that looked at these factors and their effects on a region's economies. Are the responses the same? Read the results of Carlino and DeFina's study

Suggested Citation

  • Gerald A. Carlino & Robert H. DeFina, 1999. "Do states respond differently to changes in monetary policy?," Business Review, Federal Reserve Bank of Philadelphia, issue Jul, pages 17-27.
    • Handle: RePEc:fip:fedpbr:y:1999:i:jul:p:17-27
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    File URL: https://www.philadelphiafed.org/-/media/frbp/assets/economy/articles/business-review/1999/july-august/brja99jc.pdf
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    References listed on IDEAS

    as
    1. Joe Peek & Eric Rosengren, 1995. "Is bank lending important for the transmission of monetary policy? An overview," New England Economic Review, Federal Reserve Bank of Boston, issue Nov, pages 3-11.
    2. Kashyap, Anil K. & Stein, Jeremy C., 1995. "The impact of monetary policy on bank balance sheets," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 42(1), pages 151-195, June.
    3. Gerald A. Carlino & Robert H. DeFina, 1996. "Does monetary policy have differential regional effects?," Business Review, Federal Reserve Bank of Philadelphia, issue Mar, pages 17-27.
    4. Gerald A. Carlino & Robert H. DeFina, 1998. "Monetary policy and the U.S. and regions: some implications for European Monetary Union," Working Papers 98-17, Federal Reserve Bank of Philadelphia.
    5. Eric M. Leeper & Christopher A. Sims & Tao Zha, 1996. "What Does Monetary Policy Do?," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 27(2), pages 1-78.
    6. Paul Bennett, 1990. "Evidence on the influence of financial changes on interest rates and monetary policy," Research Paper 9007, Federal Reserve Bank of New York.
    7. Gerald A. Carlino & Robert H. DeFina, 1997. "The differential regional effects of monetary policy: evidence from the U.S. States," Working Papers 97-12, Federal Reserve Bank of Philadelphia.
    8. Theodore M. Crone, 1992. "A slow recovery in the Third District: evidence from new time-series model," Business Review, Federal Reserve Bank of Philadelphia, issue Jul, pages 3-12.
    9. Shaghil Ahmed, 1993. "Does money affect output?," Business Review, Federal Reserve Bank of Philadelphia, issue Jul, pages 13-28.
    10. Gerald Carlino & Robert Defina, 1998. "The Differential Regional Effects Of Monetary Policy," The Review of Economics and Statistics, MIT Press, vol. 80(4), pages 572-587, November.
    11. Paul Bennett, 1990. "The influence of financial changes on interest rates and monetary policy: a review of recent evidence," Quarterly Review, Federal Reserve Bank of New York, vol. 15(Sum), pages 8-30.
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    Keywords

    Regional economics; Monetary policy;

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