Briefing
Are the Effects of Monetary Policy Asymmetric?
Abstract: The Federal Reserve uses monetary policy to stimulate the economy when unemployment is high and to rein in inflationary pressures when the economy is overheating. However, evidence suggests that these policy stances have unequal effects. Contractionary monetary shocks raise unemployment more strongly than expansionary shocks lower it.
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https://www.richmondfed.org/-/media/richmondfedorg/publications/research/economic_brief/2017/pdf/eb_17-03.pdf
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Bibliographic Information
Provider: Federal Reserve Bank of Richmond
Part of Series: Richmond Fed Economic Brief
Publication Date: 2017
Issue: March