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.

November 3, 2014 – New York, NY

Position Papers

Federal Reserve Credibility and Reputation in Historical Perspective
by Michael D. Bordo, Rutgers University

Phony Deflation Worries
by Charles W. Calomiris, Columbia University

Monetary Policy as a Carry Trade
by Marvin Goodfriend, Carnegie Mellon University

Can We Trust the Fed?
by Gregory D. Hess, Wabash College

The Classical Theory of Inflation and Its Uses Today
by Peter Ireland, Boston College

Rate Hike Fears are Unwarranted
by Mickey D. Levy, Blenheim Capital Management

Bitcoin Issues
by Bennett T. McCallum, Carnegie Mellon University

European Headwind: ECB Policy and Fed Normalization
by Athanasios Orphanides, MIT

March 14, 2014 – New York, NY

Position Papers

Reforming the Rules That Govern the Fed
by Charles W. Calomiris, Columbia Business School

The Relevance of Federal Reserve Surplus Capital for Current Policy
by Marvin Goodfriend, Carnegie Mellon University and National Bureau of Economic Research

Shifting Perspectives on the Dual Mandate
by Peter Ireland, Boston College

Achieving Normalcy in Monetary Policy
by Mickey D. Levy, Blenheim Capital Management

Has the Federal Reserve Learned to be an Effective Lender of Last Resort in its First One Hundred Years?
by Michael D. Bordo, Rutgers University and Hoover Institution

Recent Monetary Policy and the Fiscal Theory of the Price Level
by Bennett T. McCallum, Carnegie Mellon University