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.

April 14, 2021

Keynote Address

The Federal Reserve’s New Framework and Outcome-Based Forward Guidance
by Richard Clarida, Vice Chair, Board of Governors of the Federal Reserve System

Position Papers

The Anguish and Progress of Central Banking
by Gregory Hess, IES Abroad

Do Enlarged Deficits Cause Inflation: The Historic Record
by Michael Bordo, Rutgers University and Mickey Levy, Berenberg Capital Markets

January 7, 2021

Position Papers

Labor Market Conditions and the Fed’s New Strategic Framework
by Mickey D. Levy, Berenberg Capital Markets

Assessing the Magnitude of Shortfalls from Full Employment
by Andrew Levin, Dartmouth College