Archives - Position Papers

The Committee meets semi-annually. At each meeting a number of papers are prepared by Committee members on a variety of macroeconomic and public policy topics. Based on these papers and the Committee’s deliberations, a Policy Statement is prepared that summarizes the most important policy recommendations of the Committee. These papers are organized by year and downloadable.

May 5, 2017 – New York, NY

Keynote Address


Preparing for the Next Storm: Reassessing Frameworks & Strategies in a Low R-Star World

by John Williams, President, Federal Reserve Bank of San Francisco

Position Papers


The Fed Needs a Credible Commitment to Price Stability

by Marvin Goodfriend, Carnegie Mellon University

The Case Against the Case Against Monetary Rules
by Athanasios Orphanides, Massachusetts Institute of Technology

A Strategy for Normalizing Monetary Policy

by Peter Ireland, Boston College & Mickey Levy, Berenberg Capital Markets

Are We Asking the Right Questions?

by Gregory Hess, Wabash College

Reforming the Rules that Govern the Fed

by Charles Calomiris, Columbia University

Valuing the GSEs’ Government Support

by Deborah Lucas, Massachusetts Institute of Technology