Ball, Laurence; Tchaidze, Robert R. - Hong Kong Institute for Monetary Research (HKIMR), … - 2002
This paper seeks to understand the behavior of Greenspan's Federal Reserve in the late 1990s. Some authors suggest that the Fed followed a simple "Taylor rule", while others argue that it deviated from such a rule because it recognized that the "New Economy" permitted an easing of policy. We...