Document Type
Article
Publication Date
6-2005
Publication Title
The Journal of Economic Asymmetries
Volume
2
Issue
1
Pages
25-39
Abstract
Recently Chairman Greenspan (2003 and 2004) has discussed a risk management approach to the implementation of monetary policy. This paper explores the economic environment of the 1990s and the policy dilemmas the Fed faced given the stock boom from the mid to late 1990s to after the bust in 2000-2001. Drawing on Greenspan's comments about conducting monetary policy in the real world of risk and uncertainty, the paper assesses why US monetary policy was neutral with respect to the stock market boom.
Recommended Citation
Malliaris, Anastasios G. and Hayford, Marc D.. Recent Monetary Policy in the U.S.: Risk Management of Asset Bubbles. The Journal of Economic Asymmetries, 2, 1: 25-39, 2005. Retrieved from Loyola eCommons, School of Business: Faculty Publications and Other Works, http://dx.doi.org/10.1016/j.jeca.2005.01.002
Creative Commons License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 License.
Copyright Statement
© Elsevier B. V. 2005
Comments
Author Posting. © Elsevier B. V. 2005. This is the authors' version of the work. It is posted here by permission of The Journal of Economic Asymmetries for personal use, not for redistribution. The definitive version was published in The Journal of Economic Asymmetries, vol. 2, no. 1, 2005, http://www.sciencedirect.com/science/article/pii/S1703494915302851#!