Front Cover -- Book Title -- Contents -- Introduction - Lee E. Ohanian and John B. Taylor -- 1. Economic Strength and American Leadership - George P. Shultz -- 2. Uncertainty Unbundled: The Metrics of Activism - Alan Greenspan -- 3. Has Economic Policy Uncertainty Hampered the Recovery? - Scott...

Front Cover -- Book Title -- Copyright -- Contents -- List of Figures -- Preface -- 1. What Caused the Financial Crisis -- 2. What Prolonged the Crisis -- 3. Why the Crisis Worsened Dramatically a Year after it Began -- 4. What Went Right in the Two Decades before the Crisis -- 5. Why a Black...

Front Cover -- Book Title -- Copyright -- Contents -- Preface -- Acknowledgments -- Part I - The Danger of Bailouts and Key Principles of Reform -- 1. Make Failure Tolerable - George P. Shultz -- 2. Financial Reforms to End Government Bailouts as We Know Them - Paul Volcker -- 3. Fifty Years in...

Recent progress in the practical application of research on monetary policy rules in the United States during the 1990s is examined. The paper focuses on how simple policy rules that describe how the central bank's interest rate responds to the economy have provided a useful framework for actual...