{"id":"https://openalex.org/W2975637446","doi":"https://doi.org/10.3386/w26324","title":"Demographic Effects on the Impact of Monetary Policy","display_name":"Demographic Effects on the Impact of Monetary Policy","publication_year":2019,"publication_date":"2019-09-01","ids":{"openalex":"https://openalex.org/W2975637446","doi":"https://doi.org/10.3386/w26324","mag":"2975637446"},"language":"en","primary_location":{"id":"doi:10.3386/w26324","doi":"https://doi.org/10.3386/w26324","is_oa":true,"landing_page_url":"https://doi.org/10.3386/w26324","pdf_url":"https://doi.org/10.3386/w26324","source":{"id":"https://openalex.org/S2809516038","display_name":"National Bureau of Economic Research","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":["https://openalex.org/P4322614461"],"host_organization_lineage_names":["National Bureau of Economic Research"],"type":"repository"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"National Bureau of Economic Research","raw_type":"report"},"volume":null,"type":"report","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://doi.org/10.3386/w26324","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5054212764","display_name":"John Vincent Leahy","orcid":"https://orcid.org/0000-0001-5221-0884","observed_orcids":["https://orcid.org/0000-0001-5221-0884"]},"institutions":[{"id":"https://openalex.org/I1321305853","display_name":"National Bureau of Economic Research","ror":"https://ror.org/04grmx538","country_code":"US","type":"nonprofit","lineage":["https://openalex.org/I1321305853"]},{"id":"https://openalex.org/I27837315","display_name":"University of Michigan","ror":"https://ror.org/00jmfr291","country_code":"US","type":"education","lineage":["https://openalex.org/I27837315"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"John Leahy","raw_affiliation_strings":["Department of Economics and Gerald R. Ford School of Public Policy University of Michigan 3308 Weill Hall 735 S. State St. # 3308 Ann Arbor , MI 48109 and","Department of Economics and Gerald R. Ford School of Public Policy University of Michigan 3308 Weill Hall 735 S. State St. #3308 Ann Arbor, MI 48109","Dept. of Economics Univ. of Michigan 611 Tappan Ave Ann Arbor, MI 48109","NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Economics and Gerald R. Ford School of Public Policy University of Michigan 3308 Weill Hall 735 S. State St. # 3308 Ann Arbor , MI 48109 and","institution_ids":["https://openalex.org/I27837315"]},{"raw_affiliation_string":"Department of Economics and Gerald R. Ford School of Public Policy University of Michigan 3308 Weill Hall 735 S. State St. #3308 Ann Arbor, MI 48109","institution_ids":["https://openalex.org/I27837315"]},{"raw_affiliation_string":"Dept. of Economics Univ. of Michigan 611 Tappan Ave Ann Arbor, MI 48109","institution_ids":["https://openalex.org/I27837315"]},{"raw_affiliation_string":"NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138","institution_ids":["https://openalex.org/I1321305853"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5047669168","display_name":"Aditi Thapar","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I1321305853","display_name":"National Bureau of Economic Research","ror":"https://ror.org/04grmx538","country_code":"US","type":"nonprofit","lineage":["https://openalex.org/I1321305853"]},{"id":"https://openalex.org/I27837315","display_name":"University of Michigan","ror":"https://ror.org/00jmfr291","country_code":"US","type":"education","lineage":["https://openalex.org/I27837315"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Aditi Thapar","raw_affiliation_strings":["Dept. of Economics Univ. of Michigan 611 Tappan Ave Ann Arbor, MI 48109","Department of Economics and Gerald R. Ford School of Public Policy University of Michigan 3308 Weill Hall 735 S. State St. #3308 Ann Arbor, MI 48109","NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Dept. of Economics Univ. of Michigan 611 Tappan Ave Ann Arbor, MI 48109","institution_ids":["https://openalex.org/I27837315"]},{"raw_affiliation_string":"Department of Economics and Gerald R. Ford School of Public Policy University of Michigan 3308 Weill Hall 735 S. State St. #3308 Ann Arbor, MI 48109","institution_ids":["https://openalex.org/I27837315"]},{"raw_affiliation_string":"NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138","institution_ids":["https://openalex.org/I1321305853"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":true,"cited_by_count":15,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.9994999766349792,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.9994999766349792,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12137","display_name":"Economic theories and models","score":9.999999747378752e-05,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11742","display_name":"Economic Theory and Policy","score":0.0,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/monetary-policy","display_name":"monetary policy","score":0.7860000133514404},{"id":"https://openalex.org/keywords/demographic-structure","display_name":"demographic structure","score":0.9110000133514404},{"id":"https://openalex.org/keywords/age-group","display_name":"age groups","score":0.6389999985694885},{"id":"https://openalex.org/keywords/interest-rate-shocks","display_name":"interest rate shocks","score":0.7480000257492065},{"id":"https://openalex.org/keywords/private-sector-employment","display_name":"private sector employment","score":0.6690000295639038},{"id":"https://openalex.org/keywords/personal-income","display_name":"personal income","score":0.9980000257492065},{"id":"https://openalex.org/keywords/business-start-up","display_name":"startups","score":0.7360000014305115},{"id":"https://openalex.org/keywords/population-aging","display_name":"population aging","score":0.375}],"concepts":[{"id":"https://openalex.org/C126285488","wikidata":"https://www.wikidata.org/wiki/Q178476","display_name":"Monetary policy","level":2,"score":0.6823658347129822},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5626102089881897},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.4124504327774048},{"id":"https://openalex.org/C4249254","wikidata":"https://www.wikidata.org/wiki/Q3044431","display_name":"Demographic economics","level":1,"score":0.3348292112350464}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.3386/w26324","doi":"https://doi.org/10.3386/w26324","is_oa":true,"landing_page_url":"https://doi.org/10.3386/w26324","pdf_url":"https://doi.org/10.3386/w26324","source":{"id":"https://openalex.org/S2809516038","display_name":"National Bureau of Economic Research","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":["https://openalex.org/P4322614461"],"host_organization_lineage_names":["National Bureau of Economic Research"],"type":"repository"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"National Bureau of Economic Research","raw_type":"report"},{"id":"pmh:oai:RePEc:nbr:nberwo:26324","doi":null,"is_oa":false,"landing_page_url":"http://www.nber.org/papers/w26324.pdf","pdf_url":"http://www.nber.org/papers/w26324.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},{"id":"mag:3190901153","doi":null,"is_oa":true,"landing_page_url":"https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3461492","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"SSRN Electronic Journal","raw_type":null}],"best_oa_location":{"id":"doi:10.3386/w26324","doi":"https://doi.org/10.3386/w26324","is_oa":true,"landing_page_url":"https://doi.org/10.3386/w26324","pdf_url":"https://doi.org/10.3386/w26324","source":{"id":"https://openalex.org/S2809516038","display_name":"National Bureau of Economic Research","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":["https://openalex.org/P4322614461"],"host_organization_lineage_names":["National Bureau of Economic Research"],"type":"repository"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"National Bureau of Economic Research","raw_type":"report"},"sustainable_development_goals":[{"display_name":"Decent work and economic growth","id":"https://metadata.un.org/sdg/8","score":0.7257999777793884}],"study_designs":[{"display_name":"Observational Study","id":"https://openalex.org/study-designs/observational-study"}],"awards":[{"id":"https://openalex.org/G5149375338","display_name":"Monetary Policy, Demographics and the Business Cycle","funder_award_id":"1919362","funder_id":"https://openalex.org/F4320306076","funder_display_name":"National Science Foundation"}],"funders":[{"id":"https://openalex.org/F4320306076","display_name":"National Science Foundation","ror":"https://ror.org/021nxhr62"}],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W2975637446.pdf","grobid_xml":"https://content.openalex.org/works/W2975637446.grobid-xml"},"referenced_works_count":40,"referenced_works":["https://openalex.org/W1499102362","https://openalex.org/W1608827153","https://openalex.org/W1614215979","https://openalex.org/W1805268227","https://openalex.org/W2022220920","https://openalex.org/W2029268082","https://openalex.org/W2046775825","https://openalex.org/W2052662085","https://openalex.org/W2055049585","https://openalex.org/W2067094520","https://openalex.org/W2114597179","https://openalex.org/W2117338956","https://openalex.org/W2164705481","https://openalex.org/W2176723585","https://openalex.org/W2185580901","https://openalex.org/W2185655515","https://openalex.org/W2253894436","https://openalex.org/W2264825150","https://openalex.org/W2527007107","https://openalex.org/W2553269777","https://openalex.org/W2571995490","https://openalex.org/W2766135991","https://openalex.org/W2796034553","https://openalex.org/W2806279438","https://openalex.org/W3022855420","https://openalex.org/W3121517453","https://openalex.org/W3122170807","https://openalex.org/W3122283646","https://openalex.org/W3122411479","https://openalex.org/W3122461714","https://openalex.org/W3122991868","https://openalex.org/W3123364433","https://openalex.org/W3124933125","https://openalex.org/W3125254852","https://openalex.org/W4237954859","https://openalex.org/W4244478381","https://openalex.org/W4299368829","https://openalex.org/W6686660949","https://openalex.org/W6691885109","https://openalex.org/W6825103183"],"related_works":["https://openalex.org/W4298140848","https://openalex.org/W1930305990","https://openalex.org/W4285235672","https://openalex.org/W2953929686","https://openalex.org/W7168257375","https://openalex.org/W7134948607","https://openalex.org/W2895987252","https://openalex.org/W1614215979","https://openalex.org/W7165827016","https://openalex.org/W4398238074"],"abstract_inverted_index":{"We":[0],"study":[1],"whether":[2],"the":[3,11,15,21,47,57,59,70,72,86,105],"effects":[4],"of":[5,14,23,49,61,66,79,107],"monetary":[6,29,101,127],"policy":[7,30,102],"are":[8,35,55,68,82],"dependent":[9],"on":[10],"demographic":[12],"structure":[13],"population.We":[16],"exploit":[17],"cross-sectional":[18],"variation":[19],"in":[20,44,122],"response":[22,40,123],"US":[24],"states":[25],"to":[26,41,100,124],"an":[27,42,125],"identified":[28],"shock.We":[31],"find":[32,92],"that":[33,93],"there":[34],"three":[36],"distinct":[37],"age":[38,95],"groups.In":[39],"increase":[43],"interest":[45],"rates,":[46],"responses":[48],"private":[50],"employment":[51],"and":[52,76,81,119],"personal":[53],"income":[54],"weaker":[56],"greater":[58,71],"share":[60,73,87],"population":[62],"under":[63],"35":[64],"years":[65,78],"age,":[67,80],"stronger":[69],"between":[74],"40":[75],"65":[77,90],"relatively":[83],"unaffected":[84],"by":[85],"older":[88],"than":[89],"years.We":[91],"all":[94],"groups":[96],"become":[97],"more":[98],"responsive":[99],"shocks":[103],"when":[104],"proportion":[106],"middle":[108,115],"aged":[109,116],"increases.We":[110],"provide":[111],"evidence":[112],"consistent":[113],"with":[114],"entrepreneurs":[117],"starting":[118],"expanding":[120],"businesses":[121],"expansionary":[126],"shock.":[128]},"counts_by_year":[{"year":2025,"cited_by_count":2},{"year":2024,"cited_by_count":1},{"year":2023,"cited_by_count":1},{"year":2022,"cited_by_count":3},{"year":2021,"cited_by_count":4},{"year":2020,"cited_by_count":3},{"year":2019,"cited_by_count":1}],"updated_date":"2026-10-30T12:39:25.321706","created_date":"2019-10-03T00:00:00"}
