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Monetary Actions and Sub-macroeconomic Impacts: A Multi-period Assessment

Author

Listed:
  • Christopher Kauffman

    (University of Tennessee)

  • Jean Gauger

    (University of Tennessee)

Abstract

This study investigates monetary impacts within the regional economies of the United States. It provides updated evidence on regional impacts and examines how impacts have changed over time. Using vector autoregression (VAR) methods, impacts are investigated for the overall period (1959-2003), and two sub-periods, 1959-1979 and 1980-2003. The study finds that regional economies do respond differently to monetary shocks. Evidence also indicates that these effects have changed over time; pre-1980 patterns no longer apply in many key regions. Notable in the results are the much-moderated period two impacts and shifting across region's ranking as "stronger/weaker than average" impacts.

Suggested Citation

  • Christopher Kauffman & Jean Gauger, 2008. "Monetary Actions and Sub-macroeconomic Impacts: A Multi-period Assessment," Journal of Economic Insight, Missouri Valley Economic Association, vol. 34(2), pages 23-42.
    • Handle: RePEc:mve:journl:v:34:y:2008:i:2:p:23-42
    as

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    More about this item

    JEL classification:

    • E0 - Macroeconomics and Monetary Economics - - General
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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