Economics, Econometrics and Finance
6 years ago

Monetary policy impact on US economy declining, stronger in recessions.

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RePEc: Research Papers in Economics
Changing Effects Of Monetary Policy In The US - Evidence From A Time-Varying Coefficients VAR
Christian Melzer, Florian Höppner, Thorsten Neumann

Paper Summary

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

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