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Using a regional VAR, we find large differences in the effects of monetary policy shocks across regions of the United States. We also find that the region-level effects of monetary policy differ a great deal between the pre-Volcker and Volcker-Greenspan periods in terms of their depth and...
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Delivered at The Global Interdependence Center 2010 International Conference Series, Part II-China "Financial Interdependence in the World's Post-Crisis Capital Markets."
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