Archives - March 25, 2011 – New York, NY

Position Papers

The Prospects for Inflation Ahead
by Michael Bordo, Rutgers University

Congressional Oversight of the Federal Reserve
by Marvin Goodfriend, Carnegie Mellon University

The Dueling Mandate
by Gregory Hess, Claremont McKenna College

Evaluating QEII: A Rationale to Exit
by Mickey Levy, Bank of America

Monetary Standards and the US Constitution
by Bennett McCallum, Carnegie Mellon University

Monetary Policy and the Behavior of Banks: Lessons from the 1930s for the 2010s
by Charles Calomiris (Columbia University)

Are Delays to the Foreclosure Process a Good Thing?
by Charles Calomiris (Columbia University) and Eric Higgins

Shadow Open Market Committee Fall 2018 Meeting

10 Years After The Crisis: The State Of Monetary And Financial Policy

SOMC 2018 Fall Meeting

Presents…

the SHADOW OPEN MARKET COMMITTEE (SOMC) Meeting:

“10 Years After The Crisis: The State Of Monetary And Financial Policy”

October 19, 2018 | New York City

 

INTRODUCTION:
Mickey Levy, Berenberg Capital Markets

PANEL I: REVISITING THE FED’S MONETARY POLICY FRAMEWORK
Moderator: Mickey Levy, Berenberg Capital Markets
Peter Ireland, Boston College: Economic Conditions and Policy Strategies: A Monetarist View
Michael Bordo, Rutgers University: Hawks and Doves at the Federal Reserve

 

PANEL II: FINANCIAL POLICY TEN YEARS AFTER THE CRISIS
Moderator: Athanasios Orphanides, MIT
Deborah Lucas, MIT: The Financial Crisis Bailouts: What They Cost Taxpayers Who Reaped the Direct Benefits
Gregory Hess, Wabash College: Fannie Mae and Freddie Mac—Re-Loaded

 

KEYNOTE ADDRESS
Robert S. Kaplan, Federal Reserve Bank of Dallas
Introduction: Michael Bordo and Mickey Levy

 

October 19, 2018 – New York, NY

Keynote Address

by Robert S. Kaplan, President, Federal Reserve Bank of Dallas

 

Position Papers


Hawks and Doves at the Federal Reserve

by Michael D. Bordo, Rutgers University

Economic Conditions and Policy Strategies: A Monetarist View
by Peter N. Ireland, Boston College

Fannie Mae and Freddie Mac—Re-Loaded
by Gregory D. Hess, Wabash College

The Financial Crisis Bailouts: What They Cost Taxpayers Who Reaped the Direct Benefits
by Deborah Lucas, MIT

 

SOMC 2018 Spring Meeting

Presents…

the SHADOW OPEN MARKET COMMITTEE (SOMC) Meeting:

“The Fed’s Return To Normalcy”

March 9, 2018 | New York City

 

INTRODUCTION:
Diana Furchtgott-Roth, Manhattan Institute

PANEL I: Evaluating Post-Crisis Monetary Policies
Moderator: Deborah Lucas, Massachusetts Institute of Technology
Charles Calomiris, Columbia University: The Failure to Adopt a Systematic Policy
Mickey Levy, Berenberg Capital Markets: Fed Forecasts, Forecast Uncertainties, and Monetary Policy
Athanasios Orphanides, MIT & Gregory Hess, Wabash College: Monetary Policy Normalization Should Be More Systematic and Less Wobbly

 

PANEL II: Future Challenges
Moderator: Charles Calomiris, Columbia University
Peter Ireland, Boston College: Interest on Reserves: History, Rationale, Complications, and Risks
Michael Bordo, Rutgers University & Andy Levin, Dartmouth College: Central Bank Digital Currencies

 

KEYNOTE ADDRESS
Charles Evans, President, Federal Reserve Bank of Chicago: Some Practical Considerations for Monetary Policy Frameworks
Introduction, Athanasios Orphanides, Massachusetts Institute of Technology

 

March 9, 2018 – New York, NY

Keynote Address


Some Practical Considerations for Monetary Policy Frameworks

by Charles Evans, President, Federal Reserve Bank of Chicago

 

Position Papers


Central Bank Digital Currency: The Future Direction for Monetary Policy

by Michael D. Bordo, Rutgers University

The Fed’s Economic Forecasts, Uncertainties and Monetary Policy
by Mickey D. Levy, Berenberg Capital Markets

Interest on Reserves: History and Rationale, Complications and Risks
by Peter N. Ireland, Boston College

U.S. Monetary Instability and the Global Consequences of Unfettered Discretion
by Charles W. Calomiris, Columbia Business School

Monetary Policy Normalization Should Be More Systematic and Less Wobbly
by Gregory D. Hess, Wabash College and Athanasios Orphanides, MIT

 

2018

Publications

Papers

 

Commentary

SOMC 2017 Fall Meeting

Presents…

the SHADOW OPEN MARKET COMMITTEE (SOMC) Meeting:

“Unwinding The Fed’s Balance Sheet”

September 15, 2017 | New York City

 

INTRODUCTION:
Diana Furchtgott-Roth, Manhattan Institute

PANEL I: THE FED’S BALANCE SHEET
Moderator: Gregory Hess, Wabash College
Deborah Lucas, Massachusetts Institute of Technology: Fiscal Consequences of the Federal Reserve’s Balance Sheet
Peter Ireland, Boston College: A Monetarist View of Policy Normalization
Mickey Levy, Berenberg Capital Markets: The Fed and the Shortfall of Inflation

PANEL II: THE FED, FINANCIAL REGULATION, AND FINANCIAL STABILITY
Moderator: Athanasios Orphanides, Massachusetts Institute of Technology
Charles Calomiris, Columbia University: Prospects for Financial Regulatory Reform
Michael Bordo, Rutgers University: Financial Stability and Monetary Policy

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

 

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

SOMC 2017 Spring Meeting

Presents…

the SHADOW OPEN MARKET COMMITTEE (SOMC) Meeting:

“Reforming The Fed And Government-Sponsored Enterprises”

May 5, 2017 | New York City

 

INTRODUCTION:
Diana Furchtgott-Roth, Manhattan Institute

PANEL I: STRATEGIES FOR SOUND MONETARY POLICY
Moderator: Marvin Goodfriend, Carnegie Mellon University
Marvin Goodfriend, The Fed Needs a Credible Commitment to Price Stability
Athanasios Orphanides, Massachusetts Institute of Technology: The Case Against the Case Against Monetary Rules
Peter Ireland, Boston College, &
Mickey Levy, Berenberg Capital Markets: A Strategy for Normalizing Monetary Policy

PANEL II: THE AGENDA FOR REFORMING THE FED AND GOVERNMENT-SPONSORED ENTERPRISES
Moderator: Gregory Hess, Wabash College
Charles Calomiris, Columbia University: Reforming the Rules that Govern the Fed
Deborah Lucas, Massachusetts Institute of Technology: Valuing the GSE’s Government Support

KEYNOTE ADDRESS
Preparing for the Next Storm: Reassessing Frameworks & Strategies in a Low R-Star World
John Williams, President, Federal Reserve Bank of San Francisco