IMF: post-Volcker monetary policy effective
An IMF paper published on Monday finds monetary policy has had just as much impact on output in the United States during the period after Paul Volcker stepped down as chairman of the Fed, as before and during his tenure at the helm of the central bank.
Volcker was Federal Reserve chairman from 1979 to 1987.
Nora Traum and Shu-Chun Yang, the paper's authors, use samples from US data taken from 1955 to 2007 and find no evidence that monetary policy became less effective in the post-Volcker samples
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