Regional Asymmetries in the Impact of Monetary Policy Shocks on Prices: Evidence from US Cities

被引：11

作者：

Fielding, David ^{[1
]}

Shields, Kalvinder ^{[2
]}

机构：

[1] Univ Otago, Dept Econ, Dunedin 9054, New Zealand

[2] Univ Melbourne, Dept Econ, Melbourne, Vic 3010, Australia

来源：

OXFORD BULLETIN OF ECONOMICS AND STATISTICS | 2011年 / 73卷 / 01期

关键词：

E31; E52; R19; LAW; CONVERGENCE;

D O I：

10.1111/j.1468-0084.2010.00608.x

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Variations in real exchange rates across US cities are smaller than corresponding international variations, but nevertheless substantial. We find that a proportion of these variations can be explained by asymmetric responses to federal monetary policy shocks, and that a large part of the asymmetry can be explained by city-specific economic characteristics including the composition of local industry, bank size, house prices and the age distribution of the population.

引用

页码：79 / 103

页数：25

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