US and UK central banks take similar policy stances, researchers find

Federal Reserve Bank of Richmond

A working paper published by the Federal Reserve Bank of Richmond investigates the spillover effects of three major monetary policy shocks. Monetary Policy across Space and Time, by Laura Liu, Christian Matthes, and Katerina Petrova investigates the actions of central banks in the eurozone area, the US and the UK. They examine the “great inflation” of the late 1970s and early 1980s, the “great moderation” starting in the mid-1980s and the recession that followed the 2008 financial crisis.

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