Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/122059
Authors: 
Mandalinci, Zeyyad
Year of Publication: 
2015
Series/Report no.: 
Working Paper, School of Economics and Finance, Queen Mary, University of London 758
Abstract: 
This paper examines the effects of monetary policy shocks on UK regional economic growth and dispersion in a novel Constrained Mixed Frequency Vector Autoregressive framework. Compared to a standard MFVAR, the model partially accounts for missing quarterly observations for regional growth by exploiting national growth data. Results suggest significant heterogeneity in the importance of monetary policy shocks across regions. Mortgage indebtedness is highly related to regional sensitivity to monetary policy shocks. Also, there is some evidence suggesting that regions with larger share of manufacturing output and small and medium sized firms in employ ment are more sensitive to monetary policy shocks.
Subjects: 
Regional growth
Monetary policy
Bayesian analysis
VAR
Mixed frequency data
JEL: 
E01
E3
E52
C11
C32
C5
Document Type: 
Working Paper

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