Lapp, John S; Pearce, Douglas K - In: Journal of Money, Credit and Banking 32 (2000) 3, pp. 435-41
Since 1984 the FOMC has issued directives indicating a bias toward easing or tightening. This paper investigates the information content of these asymmetric directives for the likelihood of inter-meeting changes in policy during the Greenspan chairmanship. If policy is measured by the change in...
