The study looked at how the Federal Reserve's response to inflation affected the stability of the U.S. economy after the 1970s. By using a specialized model and advanced statistical methods, the researchers found that simply being more active in responding to inflation wasn't enough to ensure stability. They discovered that changes in other aspects of monetary policy, like how they respond to economic growth, were also crucial for maintaining stability. This challenges the idea that only a more active response to inflation was responsible for the improved economic stability in the U.S.