Are the Effects of Monetary Policy Asymmetric?

Régis Barnichon, Christian Matthes and Timothy Sablik

Richmond Fed Economic Brief, 2017, issue March

Abstract: The Federal Reserve uses monetary policy to stimulate the economy when unemployment is high and to rein in inflationary pressures when the economy is overheating. However, evidence suggests that these policy stances have unequal effects. Contractionary monetary shocks raise unemployment more strongly than expansionary shocks lower it.

Keywords: monetary policy; monetary shocks (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (13)

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