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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 20, 2012 – New York, NY
Position Papers
Shadow Open Market Committee Statement:
Federal Reserve Policy Adrift
The Unlikely Return to “Normalcy” in U.S. Monetary Policy
by Charles Calomiris, Columbia University Graduate School of Business
The Fed Should Put Its 2% Inflation Goal to Work
by Marvin Goodfriend, Carnegie Mellon University
Political Troubles Forecast for the Fed
by Gregory Hess, Claremont McKenna College
Refocusing the Fed
by Peter Ireland, Boston College
Monetary Policy: Little Economic Impact, High Risks
by Mickey Levy, Bank of America
Expansionary Monetary Policy Can Create Asset Price Booms
by Michael D. Bordo, Rutgers University and Hoover Institution, Stanford University
April 20, 2012 – New York, NY
Position Papers
A Fed Scorecard for the Last Decade
by Charles Calomiris, Columbia University Graduate School of Business
Securing the Promise of Price Stability
by Marvin Goodfriend, Carnegie Mellon University
What’s Next for Monetary Policy
by Gregory Hess, Claremont McKenna College
Innovations to Federal Reserve Policy: Opportunities Seized and Opportunities Lost
by Peter Ireland, Boston College
The Fed’s Monetary Policy: Limitations and Concerns
by Mickey Levy, Bank of America