ECB research finds Greenspan's Fed responded aggressively to uncertainty
Suggests Fed took faster, stronger action amid high uncertainty
Research published by the European Central Bank (ECB) has found the Federal Reserve under former chair Alan Greenspan responded aggressively to uncertainty, more so than to more conventional variables.
Published on May 20, the working paper, The risk management approach to monetary policy, nonlinearity and aggressiveness: the case of the US Fed, by Diego Moccero and Jean-Yves Gnabo, takes a regime-switching approach to assessing changes in the Fed's behaviour.
The authors take Greenspan's tenure
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