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New Leadership at the Federal Reserve

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  • Charles I. Plosser

Abstract

As Chairman of the Federal Reserve for the past 18 years, Alan Greenspan deserves praise for his stewardship of monetary policy. He has guided the Fed and monetary policy in a way that has led to low and stable inflation. But if Greenspan's record clearly deserves praise, he could have done more to move monetary policy into the 21st century and prepare the institution for the future. 2006 Morgan Stanley.

Suggested Citation

  • Charles I. Plosser, 2006. "New Leadership at the Federal Reserve," Journal of Applied Corporate Finance, Morgan Stanley, vol. 18(1), pages 126-129.
  • Handle: RePEc:bla:jacrfn:v:18:y:2006:i:1:p:126-129
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    References listed on IDEAS

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    1. Barberis, Nicholas & Thaler, Richard, 2003. "A survey of behavioral finance," Handbook of the Economics of Finance,in: G.M. Constantinides & M. Harris & R. M. Stulz (ed.), Handbook of the Economics of Finance, edition 1, volume 1, chapter 18, pages 1053-1128 Elsevier.
    2. James J. Choi & David Laibson & Brigitte C. Madrian & Andrew Metrick, 2001. "Defined Contribution Pensions: Plan Rules, Participant Decisions, and the Path of Least Resistance," NBER Working Papers 8655, National Bureau of Economic Research, Inc.
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