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.

September 15, 2017 – New York, NY

Keynote Address

by Mervyn King, The Lord King of Lothbury KG GBE, Former Governor, Bank of England


Position Papers

Fiscal Consequences of the Federal Reserve’s Balance Sheet

by Deborah Lucas, Massachusetts Institute of Technology

A Monetarist View of Policy Renormalization

by Peter Ireland, Boston College

The Fed and the Shortfall of Inflation
by Mickey D. Levy, Berenberg Capital Markets

Some Thoughts on Allan Meltzer

by Gregory D. Hess, Wabash College

Reforming and Depoliticizing the Federal Reserve

by Charles W. Calomiris, Columbia Business School

An Historical Perspective on Financial Stability and Monetary Policy Regimes: A Case for Caution in Central Banks Current Obsession with Financial Stability

by Michael D. Bordo, Rutgers University

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