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Federal Reserve Bank of Kansas City
Economic Review
Has the U.S. economy become less interest rate sensitive?
Jonathan L. Willis
Guangye Cao
Abstract

Jonathan Willis and Guangye Cao investigate shifts in the economy’s sensitivity to interest rates by examining how total employment responds to changes in monetary policy.


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Jonathan L. Willis & Guangye Cao, "Has the U.S. economy become less interest rate sensitive?" , Federal Reserve Bank of Kansas City, Economic Review, issue Q II, pages 5-36, 2015.
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Keywords: Interest rates; Employment; Monetary policy
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