Browsing Research publications by Author "MacDonald, Garry"
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Asymmetric effects of interest rate changes: the role of the consumption-wealth channel
MacDonald, Garry; Mullineux, Andy; Sensarma, Rudra (2011)This article examines the role of the consumption-wealth channel in explaining asymmetric effects of monetary policy changes. Towards this end, we draw upon available literature on the consumption function and behavioural ...