Monetary Policy and the U.S. States and Regions: Some Implications for European Monetary Union

  • Gerald A. Carlino
  • Robert DeFina
Part of the ZEI Studies in European Economics and Law book series (ZEIS, volume 1)


The European Monetary Union (EMU) faces numerous economic and political challenges. Among them is the likelihood that the economies of member countries will respond differently to the (common) actions of the European Central Bank. This paper seeks to draw lessons for the EMU by studying the size and sources of differential responses to monetary policy shocks in the U.S. states and regions.1


Monetary Policy Impulse Response Function European Monetary Union Small Bank Monetary Policy Shock 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


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Copyright information

© Springer Science+Business Media New York 2000

Authors and Affiliations

  • Gerald A. Carlino
    • 1
    • 2
  • Robert DeFina
    • 1
    • 2
  1. 1.Federal Reserve Bank of Philadelphia and The Wharton SchoolUniversity of PennsylvaniaPhiladelphiaUSA
  2. 2.Villanova UniversityVillanovaUSA

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