Economics, Econometrics and Finance
8 years ago

Monetary policy impact declining, stronger in recession than boom: study

Applied Economics
Changing effects of monetary policy in the US–evidence from a time-varying coefficient VAR
Florian Höppner, Christian Melzer, Thorsten Neumann

Paper Summary

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The impact of monetary policy on the US economy has been decreasing gradually from 1962 to 2002. Monetary policy has a stronger effect during recessions compared to booms.