Regional asymmetries in the impact of monetary policy shocks on prices: Evidence from US cities
Fielding, David; Shields, Kalvinder
Cite this item:
Fielding, D., & Shields, K. (2007). Regional asymmetries in the impact of monetary policy shocks on prices: Evidence from US cities (Economics Discussion Papers Series No. 702). University of Otago. Retrieved from http://hdl.handle.net/10523/1087
Permanent link to OUR Archive version:
http://hdl.handle.net/10523/1087
Abstract:
Deviations from the Law of One Price across US cities are smaller than corresponding international deviations, but nevertheless substantial. We find that a proportion of these deviations can be explained by asymmetric responses to federal monetary policy shocks, and that a large part of theasymmetry can be explained by city-specific economic characteristics.
Date:
2007-02
Publisher:
University of Otago
Pages:
22
Series number:
702
Keywords:
Law of One Price; monetary policy shocks
Research Type:
Discussion Paper
Notes:
JEL Classification: E31, E52, R19
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- Economics [315]
- Discussion Paper [438]