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The road to price stability

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Author Info
Athanasios Orphanides

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Abstract

Nearly a quarter-century after Paul Volcker's declaration of war on inflation on October 6, 1979, Alan Greenspan declared that the goal had been achieved. Drawing on the extensive historical record, I examine the views of Chairmen Volcker and Greenspan on some aspects of the evolving monetary policy debate and explore some of the distinguishing characteristics of the disinflation.

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Publisher Info
Paper provided by Board of Governors of the Federal Reserve System (U.S.) in its series Finance and Economics Discussion Series with number 2006-05.

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Date of creation: 2006
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Handle: RePEc:fip:fedgfe:2006-05

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Related research
Keywords: Anti-inflationary policies ; Monetary policy ; Greenspan; Alan ; Volcker; Paul A.;

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This paper has been announced in the following NEP Reports: References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Athanasios Orphanides, 2003. "Historical monetary policy analysis and the Taylor rule," Finance and Economics Discussion Series 2003-36, Board of Governors of the Federal Reserve System (U.S.). [Downloadable!]
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  2. David E. Lindsey & Athanasios Orphanides & Robert H. Rasche, 2005. "The reform of October 1979: how it happened and why," Finance and Economics Discussion Series 2005-02, Board of Governors of the Federal Reserve System (U.S.). [Downloadable!]
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  3. Alan Greenspan, 2004. "Risk and Uncertainty in Monetary Policy," American Economic Review, American Economic Association, vol. 94(2), pages 33-40, May. [Downloadable!]
  4. Orphanides, Athanasios & Wilcox, David W, 2002. "The Opportunistic Approach to Disinflation," International Finance, Blackwell Publishing, vol. 5(1), pages 47-71, Spring. [Downloadable!] (restricted)
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This page was last updated on 2009-11-18.

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