Hidden Bibliographic Details
| Other authors / contributors: | International Monetary Fund. European II Department.
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| ISBN: | 1283559250
9781283559256
1451894589
9781451894585
1462350011
9781462350018
1452749264
9781452749266
9786613871701
6613871702
9781451967555
1451967551
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| Notes: | Includes bibliographical references (pages 29-30).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
English.
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | The view that tight and easy monetary policy produces asymmetric effects on economic activity has long been recognized in policy debates and in the academic profession (Johnson, 1962). The behavior of the U.S. economy during the 1990-92 recession, when successive cuts in the federal fund rate failed to produce economic recovery, seemed to confirm the traditional view. Furthermore, recently collected empirical evidence for both the United States (De Long and Summers 1988, Cover 1992, Morgan 1993) and Europe (Karras, 1996) strongly support the hypothesis that negative money-supply shocks and/or increases in interest rates reduce output more than monetary expansions raise it.
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| Other form: | Print version: Garibaldi, Pietro, 1968- Asymmetric effects of monetary policy on job creation and destruction. [Washington, D.C.] : International Monetary Fund, European II Dept., ©1997
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| Standard no.: | 10.5089/9781451894585.001
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