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U.S monetary policy is less powerful in recessions

Tenreyro, Silvana ORCID: 0000-0002-9816-7452 and Thwaites, Gregory (2013) U.S monetary policy is less powerful in recessions. LSE American Politics and Policy (16 Oct 2013). Website.

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With immense pressure on public finances during the Great Recession restricting the use of fiscal policies, many governments have turned to monetary policy instruments to aid economic recovery. But how effective are these policies in times of recession? Silvana Tenreyro and Gregory Thwaites find that changes in official interest rates have no discernible effect on the economy during recessions. In light of this, they argue that recent signs of economic recovery are there in spite of the current policy mix, not because of it.

Item Type: Online resource (Website)
Official URL:
Additional Information: © 2013 The Author
Divisions: LSE
Subjects: J Political Science > JA Political science (General)
JEL classification: F - International Economics > F5 - International Relations and International Political Economy > F59 - International Relations and International Political Economy: Other
Date Deposited: 28 Jul 2014 09:04
Last Modified: 15 Sep 2023 18:57

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