The Road to Price Stability

11 Pages Posted: 3 May 2006

See all articles by Athanasios Orphanides

Athanasios Orphanides

Massachusetts Institute of Technology (MIT) - Sloan School of Management; Asia School of Business

Date Written: January 2006

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.

Keywords: Price stability, monetary policy, Paul Volcker, Alan Greenspan.

JEL Classification: E52, E58, E61

Suggested Citation

Orphanides, Athanasios, The Road to Price Stability (January 2006). FEDs Working Paper No. 2006-05, Available at SSRN: https://ssrn.com/abstract=899535 or http://dx.doi.org/10.2139/ssrn.899535

Athanasios Orphanides (Contact Author)

Massachusetts Institute of Technology (MIT) - Sloan School of Management ( email )

100 Main Street
E62-416
Cambridge, MA 02142
United States

HOME PAGE: http://mitsloan.mit.edu/faculty/detail.php?in_spseqno=54058

Asia School of Business ( email )

Jalan Kuching, Kuala Lumpur, Wilayah Persekutuan K
Kuala Lumpur, MA
Malaysia