Alan Greenspan and the ECB: Different Policies, Different Results
Publication Date: February 2002
Publisher(s): Center for Economic and Policy Research
Author(s): Dean Baker
Keywords: Unemployment rate; Interest rate; GDP per capita
Coverage: United States
This paper compares the monetary policies pursued by the European Central Bank (ECB) and the Federal Reserve Board. It notes that the Fed has been far more aggressive in using monetary policy to reduce unemployment, which could explain much of the difference in the unemployment rates between the United States and the euro zone nations.