000			01103nam a22001457a 4500
999			_c520993 _d520993
008			221207b ||||| |||| 00| 0 eng d
100			_aLeahy, John V. and Thapar, Aditi _935758
245			_aAge structure and the impact of monetary policy
260			_aAmerican Economic Journal: Macroeconomics
300			_a14(4), Oct, 2022: p.136-173
520			_aWe exploit cross-sectional variation in the response of US states to an identified monetary policy shock to study how the impact of monetary policy varies with the age structure of the population. We find that the economy's response is weaker the greater the share of population under 35 years of age and stronger the greater the share between 40 and 65. We find that all age groups become more responsive to monetary policy shocks when the proportion of the middle-aged increases. We provide evidence consistent with middle-aged entrepreneurs starting and expanding businesses in response to an expansionary monetary shock. – Reproduced
773			_aAmerican Economic Journal: Macroeconomics
906			_aMONETARY POLICY
942			_cAR