Monetary Policy

ENDNOTES

1

Regions are defined by the Bureau of Economic Analysis (BEA). There are eight BEA regions: New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountains and Far West.

2

The percent of manufacturing for the remaining District states in 2000 were: Arkansas, 23 percent; Kentucky, 26 percent; Mississippi, 21 percent; Missouri, 19 percent; and Tennessee, 22 percent.

3

Note that the Eighth District is made up of a portion of most of these states, not the entire state.

REFERENCES

Carlino, Gerald and DeFina, Robert. “The Differential Regional Effects of Monetary Policy: Evidence from the U.S. States,” Journal of Regional Science, May 1999, Vol. 39, No. 2, pp. 339-58.

_______ and _______. “The Differential Regional Effects of Monetary Policy,” The Review of Economics and Statistics, November 1998, Vol. 80, No. 4,
pp. 572-87.