Year: 2009
Type: article
Abstract: . The paper suggests that during Greenspan's incumbency the Federal Reserve (Fed) lowered interest rates rapidly when asset price developments suggested a crisis potential. Whereas, when asset markets were growth‐supporting, the Fed did not raise interest rates. This asymmetry contributed to a downward‐trend in interest rates which pushed US interest rates down to zero in the current crisis.
Source: Oxonomics
Author: Andreas Hoffmann
Institutions: Bank of Estonia, Leipzig University
Language: English
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W2010414592