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.

October 7, 2016 – New York, NY

Keynote Address


Acknowledging Uncertainty

by Loretta Mester, President, Federal Reserve Bank of Cleveland

Position Papers


The Case (In Brief) for Unencumbering Interest Rate Policy at the Zero Bound

by Marvin Goodfriend, Carnegie Mellon University

The Microeconomic Perils of Monetary Policy Experiments

by Charles Calomiris, Columbia University

Could the Fed Do More to Please the Public?

by Peter Ireland, Boston College

Why Have the Fed’s Polices Failed to Stimulate the Economy?

by Mickey D. Levy, Berenberg Capital Markets

April 29, 2016 – New York, NY

Keynote Address


What’s the matter with the Fed?

by Peter R. Fisher, Tuck School of Business at Dartmouth

Position Papers


Rules Based Policies: Better Than International Central Bank Coordination and Cooperation

by Michael D. Bordo, Rutgers University and Hoover Institution, Stanford University

Communist Party Rule and China’s Macroeconomics Adjustment Problem

by Marvin Goodfriend, Carnegie Mellon University

There is a joke in academia and it goes like this

by Gregory D. Hess, Wabash College

Why Has Nominal Income Growth Been So Slow?

by Peter N. Ireland, Boston College

Rethinking Fed Policy amid Constraints on Aggregate Supply

by Mickey D. Levy, Berenberg Capital Markets, LLC for the Americas and Asia

Reflections on Keynes and Hamilton

by Bennett T. McCallum, Tepper School of Business

The Fed-ECB Policy Divergence

by Athanasios Orphanides, MIT