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1、TheDifferentialRegionalEffectsofMonetaryPolicyAuthor(s):GeraldCarlinoandRobertDefinaSource:TheReviewofEconomicsandStatistics,Vol.80,No.4(Nov.,1998),pp.572-587Publishedby:TheMITPressStableURL:http://www.jstor.org/stable/2646839.Accessed:02/03/201109:32YouruseoftheJSTORarchiveindicatesyour
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3、eJSTORarchiveonlyforyourpersonal,non-commercialuse.Pleasecontactthepublisherregardinganyfurtheruseofthiswork.Publishercontactinformationmaybeobtainedat.http://www.jstor.org/action/showPublisher?publisherCode=mitpress..EachcopyofanypartofaJSTORtransmissionmustcontainthesamecopyrightnotice
4、thatappearsonthescreenorprintedpageofsuchtransmission.JSTORisanot-for-profitservicethathelpsscholars,researchers,andstudentsdiscover,use,andbuilduponawiderangeofcontentinatrusteddigitalarchive.Weuseinformationtechnologyandtoolstoincreaseproductivityandfacilitatenewformsofscholarship.Form
5、oreinformationaboutJSTOR,pleasecontactsupport@jstor.org.TheMITPressiscollaboratingwithJSTORtodigitize,preserveandextendaccesstoTheReviewofEconomicsandStatistics.http://www.jstor.orgTHEDIFFERENTIALREGIONALEFFECTSOFMONETARYPOLICYGeraldCarlinoandRobertDeFina*Abstract-Thispaperexamineswhethe
6、rmonetarypolicyhassimilarhavesymmetriceffectsacrosstheeightBureauofEconomiceffectsacrossregionsintheUnitedStates.ImpulseresponsefunctionsAnalysis(BEA)regionsintheUnitedStates.TheVARfromanestimatedstructuralvectorautoregressionrevealacoreofregions-NewEngland,Mideast,Plains,Southeast,andth
7、eFarWest-includesthegrowthratesofrealpersonalincomeintheBEAthatrespondtomonetarypolicychangesinwaysthatcloselyapproximateregions,therelativepriceofenergy,andamonetarypolicytheU.S.averageresponse.Ofthethreenoncoreregions,one(GreatLakes)variable.Theestimationperiodis1958:1t
