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Federal Reserve Bank of Philadelphia
Business Review
Do states respond differently to changes in monetary policy?
Gerald A. Carlino
Robert H. DeFina

Do the proportion of interest-sensitive industries, the number of small firms, and the concentration of small banks determine how monetary policy influences state economies? In this article, Jerry Carlino and Bob DeFina extend to the state level their earlier study that looked at these factors and their effects on a region's economies. Are the responses the same? Read the results of Carlino and DeFina's study

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Gerald A. Carlino & Robert H. DeFina, "Do states respond differently to changes in monetary policy?" , Federal Reserve Bank of Philadelphia, Business Review, issue Jul, pages 17-27, 1999.
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Keywords: Monetary policy ; Regional economics
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