Uhlig, Harald - Sonderforschungsbereich 373, Quantifikation und … - 2001
In 2001, the Fed has lowered interest rates in a series of cuts, starting from 6.5 % at the end of 2000 to 2.0 % by … the Greenspan period, a vector autoregression is fitted to US data, starting in 1986 and ending in September 2001 … output. We find that neither the Fed policy choices in 2001 nor those of 2000 were surprising. We provide a method to explain …