Title
Understanding the Greenspan Standard
Author(s)
Alan S. Blinder Alan Blinder (Princeton University)
Ricardo Reis Ricardo Reis (Princeton University)
Abstract
Alan Greenspan was sworn in as Chairman of the Board of Governors of the Federal Reserve System almost exactly 18 years ago. At the time, the Reagan administration was being rocked by the Iran-contra scandal. The Berlin Wall was standing tall while, in the Soviet Union, Mikhail Gorbachev had just presented proposals for perestroika. The stock market had not crashed since 1929 and, probably by coincidence, Prozac had just been released on the market. The New York Mets, having won the 1986 World Series, were the reigning champions of major league baseball. A lot can change in 18 years.
Creation Date
2005-09
Section URL ID
CEPS
Paper Number
114
URL
https://gceps.princeton.edu/wp-content/uploads/2017/01/114blinderreis.pdf
File Function
Jel
E52
Keyword(s)
United States
Suppress
false
Series
3