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Overview
By focusing on Alan Greenspan's public pronouncements as Fed chairman, The Greenspan Effect provides a concise, accurate distillation of Greenspan's thinking on today's most important economic topics. It presents an historic, solidly researched overview of how these pronouncements have affected Wall Street and other world financial markets. In so doing, this valuable profile equips investors and businesspeople with today's most important tool - an analysis of how Alan Greenspan has responded in past economic environments, what he is likely to do in the future, and how financial markets will react.Editorials
Library Journal
The words of Federal Reserve Board chairman Alan Greenspan are said to have the power to move markets. Sicilia, a business historian, and Cruikshank, a communications consultant, set out to prove that theory through examination of movements of the Dow Jones Industrial Average (DJIA) in the days surrounding several of Greenspan's speeches. And, indeed, they discover a "Greenspan Effect": Greenspan's words significantly changed market valuations for several days--but the DJIA tended to return to its trend after that time. The bulk of the book consists of short excerpts from Greenspan's speeches, organized by topic, with brief passages of explanation; the authors also provide a biographical sketch of Greenspan and a brief history of central banking in the United States. Of particular interest are Chapter 29, explaining Greenspan's opposition to federal budget deficits, and Chapter 37, providing 16 tips to keep in mind when interpreting Greenspan's speeches. Recommended for both public and academic libraries.--A.J. Sobczak, Covina, CA Copyright 1999 Cahners Business Information.Floyd Norris
...there is a lot to savor. In his speeches and testimony since he became Fed chairman in 1987, Greenspan has done a very good job of explaining his view of what is happening in the economy and financial markets and on the interplay between the two. Studying the observations of Chairman Alan is a good way to get a reflective and thoughful view of the economy and the challenges confronting the Federal Reserve...Greenspan's speeches are often studded with historical insights, and with a droll sense of humor.—The New York Times Book Review
Book Details
Published
October 1, 1999
Publisher
New York : McGraw-Hill, c2000.
Pages
273
Format
Hardcover
ISBN
9780071349192