Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/260036 
Authors: 
Year of Publication: 
2013
Series/Report no.: 
Working Paper No. 2012:9
Publisher: 
Lund University, School of Economics and Management, Department of Economics, Lund
Abstract: 
This paper investigates the effects on employment in 21 Swedish regions of a monetary policy shock using a VAR model with exogenous foreign variables for the 1993:1-2007:4 period. The regional impulse responses clearly indicate asymmetric effects in which employment falls significantly in some regions, while not changing significantly in others. These differences seem to stem from the interest and exchange rate channel, whereby regions with larger shares of employment in the goods sector and higher export intensity are adversely affected. In addition, there is one group of regions that, surprisingly, see increased employment in response to the same policy shock.
Subjects: 
monetary transmission
vector autoregression (VAR)
regional differences
JEL: 
C32
E52
F41
Document Type: 
Working Paper

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