Closing remarks : the Greenspan era : lessons for the future

Greenspan, Alan ; Monetary policy

The role of capital in optimal banking supervision and regulation

This paper was the keynote address at the conference "Financial services at the crossroads: capital regulation in the twenty-first century." The conference, held at the Federal Reserve Bank of New York on February 26-27, 1998, was designed to encourage a consensus between the public and private sectors on an agenda for capital regulation in the new century.Bank capital ; Bank supervision

Opening remarks : the Greenspan era : lessons for the future

Greenspan, Alan ; Monetary policy

Central bank perspectives on stabilization policy

For some time, the use of monetary and fiscal policies to smooth business cycle fluctuations has taken a back seat to longer term objectives of restoring price stability and fiscal balance. More recently, however, weaker economic performance in some of the world’s economies, most notably in Japan and the United States, has led to renewed interest in the use of short-run stabilization policy. ; This year the bank’s economic policy symposium, “Rethinking Stabilization Policy,” explored the potential scope for stabilization policy in this new environment. The papers presented at the symposium and the ensuing discussion focused on a number of key issues including: reasons for the renewed interest in stabilization policy, the effectiveness and limitations of stabilization policy, and whether the use of short-run stabilization policy conflicts with the pursuit of longer term macroeconomic objectives. ; The articles included in this special issue of the Economic Review provide perspectives on stabilization policy from five prominent central bank officials: Alan Greenspan, Otmar Issing, Guillermo Ortiz, Yukata Yamaguchi, and David Dodge. As these articles suggest, policymakers in different countries clearly share a common set of core values that guide policy. At the same time, monetary policy decisions must also be tailored to the unique circumstances of individual countries. Viewed individually, each of these presentations is highly interesting and informative. Taken together, they provide a broad perspective on the challenges facing policymakers in a changing economic environment.Monetary policy ; Fiscal policy

Address: job insecurity and technology

Technology ; Employment (Economic theory)

The Crisis

macroeconomics, global bubble, reform, regulation, risk management, subprime mortgage, crisis, interest

The New Tax Law: The Future of Private Enterprise and Entrepreneurship

This is an excerpt from a speech by Alan Greenspan related to the future of private enterprise and entrepreneurship. Greenspan talks about the 1987 tax law passed by Congress, and this history of tax law in the United States leading up to this point

Alan Greenspan The Age of Turbulence : Adventures in a New World

"This book is in part a detective story. After 9/11 I knew, if I needed further reinforcement, that we are living in a new world - the world of a global capitalist economy that is vastly more flexible, resilient, open, self-correcting, and fast-changing than it was even a quarter century earlier. It\u27s a world that presents us with enormous new possibilities but also enormous new challenges. The Age of Turbulence is my attempt to understand the nature of this new world: how we got here, what we\u27re living through, and what lies over the horizon, for good and for ill. Where possible, I convey my understanding in the context of my own experiences. I do this out of a sense of responsibility to the historical record, and so that listeners will know where I\u27m coming from. "The book is therefore divided in halves: the first half is my effort to retrace the arc of my learning curve, and the second half is a more objective effort to use this as the foundation on which to erect a conceptual framework for understanding the new global economy. Along the way I explore critical elements of this emerging global environment: the principles governing it; the vast energy infrastructure that powers it; the global financial imbalances and dramatic shifts in world demographics that threaten it; and, despite its unquestioned success, the chronic concern over the justice of the distribution of its rewards. Finally, I bring together what we can reasonably conjecture about the makeup of the world economy in 2030. "I don\u27t pretend to know all the answers. But from my vantage point at the Federal Reserve, I had privileged access to the best that had been thought and said on a wide range of subjects. I have not been inhibited in reaching for some fairly sweeping hypotheses." -Alan Greenspa

Implications for Policy

macroeconomics, tax-based income policy, TIP, economic stability, economic growth