Annual Report 2015| Federal Reserve Bank of St. Louis

The Road to Normal

References

Bagehot, Walter. Lombard Street: A Description of the Money Market. London, U.K.: H.S. King, 1873. 

Bullard, James. “Permazero as a Possible Medium-Term Outcome for the U.S. and the G-7.” Presentation at the Federal Reserve Bank of Philadelphia, Dec. 4, 2015. See https://www.stlouisfed.org/~/media/Files/PDFs/Bullard/remarks/Bullard-Phil-Fed-Policy-Forum-4Dec2015.pdf.

Clarida, Richard; Galí, Jordi; and Gertler, Mark. “The Science of Monetary Policy: A New Keynesian Perspective.” Journal of Economic Literature, 1999, Vol. 37, No. 4, pp. 1,661-1,707. See http://www.nyu.edu/econ/user/gertlerm/science.pdf

Cochrane, John. “Do Higher Interest Rates Raise or Lower Inflation?” Unpublished manuscript, University of Chicago Booth School of Business, Oct. 24, 2015. See http://faculty.chicagobooth.edu/john.cochrane/research/papers/fisher.pdf.

Federal Open Market Committee. Statement. June 24, 2009. See http://www.federalreserve.gov/newsevents/press/monetary/20090624a.htm.

Federal Open Market Committee. Statement. March 19, 2014. See http://www.federalreserve.gov/newsevents/press/monetary/20140319a.htm.

Federal Open Market Committee. “Policy Normalization Principles and Plans.” Sept. 17, 2014. See http://www.federalreserve.gov/newsevents/press/monetary/20140917c.htm

Friedman, Milton; and Schwartz, Anna. A Monetary History of the United States, 1867-1960. Princeton, N.J.: Princeton University Press, 1963. 

Keynes, John M. The General Theory of Employment, Interest and Money. London, U.K.: Macmillan, 1936.

Martin, Antoine; McAndrews, James; Palida, Ali; and Skeie, David. “Federal Reserve Tools for Managing Rates and Reserves.” Federal Reserve Bank of New York Staff Reports, September 2013, No. 642. See https://www.newyorkfed.org/medialibrary/media/research/staff_reports/sr642.pdf

Taylor, John. “Discretion Versus Policy Rules in Practice.” Carnegie-Rochester Series on Public Policy, 1993, Vol. 39, pp. 195-214. See https://web.stanford.edu/~johntayl/Papers/Discretion.pdf

Williamson, Stephen. “Monetary Policy in the United States: A Brave New World?” Federal Reserve Bank of St. Louis Review, 2014, Vol. 96, No. 2, pp. 111-122. See https://research.stlouisfed.org/publications/review/2014/q2/williamson.pdf

Williamson, Stephen. “Monetary Policy Normalization in the United States.” Federal Reserve Bank of St. Louis Review, 2015, Vol. 97, No. 2, pp. 87-108. See https://research.stlouisfed.org/publications/review/2015/q2/Williamson.pdf

Williamson, Stephen. “Interest on Reserves, Interbank Lending, and Monetary Policy,” Working Paper 2015-024a, Federal Reserve Bank of St. Louis, September 2015. See https://research.stlouisfed.org/wp/2015/2015-024.pdf

Woodford, Michael. Interest and Prices: Foundations of a Theory of Monetary Policy. Princeton, N.J.: Princeton University Press, 2003.

Woodford, Michael. “Methods of Policy Accommodation at the Interest-Rate Lower Bound.” Presented at the Federal Reserve Bank of Kansas City Economic Symposium, “The Changing Policy Landscape,” Jackson Hole, Wyo., Aug. 31, 2012. See http://www.columbia.edu/~mw2230/JHole2012final.pdf.

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