The differential regional effects of monetary policy
Article Abstract:
The symmetric effects of monetary policy shocks across regions were investigated using a quarterly structural vector autoregression (VAR) approach. The VAR covers the relative price of energy, the growth rates of real personal income and a monetary policy variable in the eight Bureau of Economic Analysis regions in the US. Empirical results showed that New England, the Southeast, Far West, Plains and Mideast regions exhibit responses to monetary policy shocks that are similar to the national average response, with the Great Lakes being the most sensitive to monetary policy.
Publication Name: Review of Economics and Statistics
Subject: Mathematics
ISSN: 0034-6535
Year: 1998
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Habit formation and intertemporal substitution in individual food consumption
Article Abstract:
A mathematical model is used to gauge habit formation in food consumption of the individual consumer. The model is applied to data collected by the University of Michigan Survey Research Center, containing statistics on the income, wealth and food consumption of families monitored over a 19-year period. Results indicate that the habitual food consumption equalled about 50% of total food consumption.
Publication Name: Review of Economics and Statistics
Subject: Mathematics
ISSN: 0034-6535
Year: 1996
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