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The Regional Transmission of UK Monetary Policy


Dow, Sheila; Montagnoli, Alberto


Bitte beziehen Sie sich beim Zitieren dieses Dokumentes immer auf folgenden Persistent Identifier (PID):http://nbn-resolving.de/urn:nbn:de:0168-ssoar-133050

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Abstract Concerns have been raised in the media about a ‘one-size-fits-all’ monetary policy for the UK. Challenging the assumption that a given interest rate change fully reflects how monetary policy is transmitted, we consider the possibility that there may be regional differences in how monetary policy is translated into different financial conditions, and thus economic conditions, in different regions. The analysis suggests that, while UK monetary policy may have greatest impact on central regions in the short run, there is a greater, sustained, impact in the long run on peripheral regions. A comparison of Scottish and UK data provides some evidence.
Klassifikation Wirtschaftspolitik
Freie Schlagwörter Scotland; UK; monetary policy; regional economies
Sprache Dokument Englisch
Publikationsjahr 2007
Seitenangabe S. 797-808
Zeitschriftentitel Regional Studies, 41 (2007) 6
DOI http://dx.doi.org/10.1080/00343400601142779
Status Postprint; begutachtet (peer reviewed)
Lizenz PEER Licence Agreement (applicable only to documents from PEER project)