| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w26695 |
| 来源ID | Working Paper 26695 |
| Regional Monetary Policies and the Great Depression | |
| Pooyan Amir-Ahmadi; Gustavo S. Cortes; Marc D. Weidenmier | |
| 发表日期 | 2020-01-27 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | We compile a new monthly database for each Federal Reserve district between 1923-33 to analyze the national and regional nature of the monetary transmission mechanism around the Great Depression. We employ sign-identified structural VARs and narrative sign restrictions informed by uncontroversial theory and the historical record. Our findings demonstrate that there was significant heterogeneity in regional monetary policy as well as its dynamic effects on real economic activity. Prices in the 12 Fed districts were generally more responsive to contractionary regional monetary policy than national monetary policy shocks. The district reserve banks played a key role in the great contraction. |
| 主题 | Macroeconomics ; Monetary Policy ; History ; Macroeconomic History |
| URL | https://www.nber.org/papers/w26695 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/584368 |
| 推荐引用方式 GB/T 7714 | Pooyan Amir-Ahmadi,Gustavo S. Cortes,Marc D. Weidenmier. Regional Monetary Policies and the Great Depression. 2020. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w26695.pdf（762KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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