"This is a ground-breaking look at Federal Reserve chair Ben Bernanke, the man steering the U.S. economy through the greatest financial crisis since the Great Depresion, and the ways which the challenges facing Bernanke were created, in large part, by his predecessor, Alan Greenspan"--Cover p. 4

Extending the approach of Bernanke and Blinder (1992), Strongin (1992), and Christiano, Eichenbaum, and Evans (1994a, 1994b), we develop and apply a VAR-based methodology for measuring the stance of monetary policy. More specifically, we develop a "semi-structural" VAR approach, which extracts...