Focus on Deflation and Monetary Policy

By BRUCE BARTLETT, Posted: July 23, 2010

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Anderson, Richard G., “Paying Interest on Deposits at Federal Reserve Banks,” Economic Synopses, Federal Reserve Bank of St. Louis (2008).

Bech, Morten L., and Elizabeth Klee, “The Mechanics of a Graceful Exit: Interest on Reserves and Segmentation in the Federal Funds Market,” Finance and Economics Discussion Series, Federal Reserve Board (February 2010).

Bernanke, Ben S., “Deflation: Making Sure ‘It’ Doesn’t Happen Here,” Remarks before the National Economists Club (November 21, 2002).

Bernanke, Ben S., Vincent R. Reinhart, and Brian P. Sack, “Monetary Policy Alternatives at the Zero Bound: An Empirical Assessment,” Brookings Papers on Economic Activity (2004).

Blanchard, Oliver, and Giovanni Dell’Ariccia, and Paolo Mauro, “Rethinking Macroeconomic Policy,” Staff Position Note, International Monetary Fund (February 12, 2010).

Bodenstein, Martin, James Hebden, and Ricardo Nunes, “Imperfect Credibility and the Zero Bound on the Nominal Interest Rate,” International Finance Discussion Paper, Federal Reserve Board (July 2010).

Bowman, David, Etienne Gagnon, and Mike Leahy, “Interest on Excess Reserves as a Monetary Policy Instrument: The Experience of Foreign Central Banks,” International Finance Discussion Paper, Federal Reserve Board (March 2010).

Carlstrom, Charles T., and Timothy S. Fuerst, “Monetary Policy in a World with Interest on Reserves,” Economic Commentary, Federal Reserve Bank of Cleveland (June 10, 2010).

Carlstrom, Charles T., and Andrea Pescatori, “Conducting Monetary Policy when Interest Rates Are Near Zero,” Economic Commentary, Federal Reserve Bank of Cleveland (October 2009).

Keister, Todd, and James J. McAndrews, “Why Are Banks Holding So Many Excess Reserves?” Current Issues in Economics and Finance, Federal Reserve Bank of New York (December 2009).

Kohn, Donald I., Statement before the Senate Committee on Banking, Housing and Urban Affairs (March 1, 2006).

Makin, John, “The Rising Threat of Deflation,” Economic Outlook, American Enterprise Institute (July 2010).

Minegishi, Makoto, and Boris Cournède, “Monetary Policy Responses to the Crisis and Exit Strategies,” Economics Department Working Paper, Organization for Economic Cooperation and Development (February 18, 2010).

Svensson, Lars E.O., “Escaping from a Liquidity Trap and Deflation: The Foolproof Ways and Others,” Journal of Economic Perspectives (Fall 2003).

Svensson, Lars E.O., “Monetary Policy with a Zero Interest Rate,” Sveriges Riksbank (February 17, 2010).

Bruce Bartlett is an American historian and columnist who focuses on the intersection between politics and economics. He blogs daily and writes a weekly column at The Fiscal Times. Read his most recent column here. Bartlett has written for Forbes Magazine and Creators Syndicate, and his work is informed by many years in government, including as a senior policy analyst in the Reagan White House. He is the author of seven books including the New York Times best-seller, Impostor: How George W. Bush Bankrupted America and Betrayed the Reagan Legacy (Doubleday, 2006).

Anderson, Richard G., “Paying Interest on Deposits at Federal Reserve Banks,” Economic Synopses, Federal Reserve Bank of St. Louis (2008).Bech, Morten L., and Elizabeth Klee, “The Mechanics of a Graceful Exit: Interest on Reserves and Segmentation in the Federal Funds Market,” Finance and Economics Discussion Series, Federal Reserve Board (February 2010).Bernanke, Ben S., “Deflation: Making Sure ‘It’ Doesn’t Happen Here,” Remarks before the National Economists Club (November 21, 2002).Bernanke, Ben S., Vincent R. Reinhart, and Brian P. Sack, “Monetary Policy Alternatives at the Zero Bound: An Empirical Assessment,” Brookings Papers on Economic Activity (2004).Blanchard, Oliver, and Giovanni Dell’Ariccia, and Paolo Mauro, “Rethinking Macroeconomic Policy,” Staff Position Note, International Monetary Fund (February 12, 2010).Bodenstein, Martin, James Hebden, and Ricardo Nunes, “Imperfect Credibility and the Zero Bound on the Nominal Interest Rate,” International Finance Discussion Paper, Federal Reserve Board (July 2010).Bowman, David, Etienne Gagnon, and Mike Leahy, “Interest on Excess Reserves as a Monetary Policy Instrument: The Experience of Foreign Central Banks,” International Finance Discussion Paper, Federal Reserve Board (March 2010).Carlstrom, Charles T., and Timothy S. Fuerst, “Monetary Policy in a World with Interest on Reserves,” Economic Commentary, Federal Reserve Bank of Cleveland (June 10, 2010).Carlstrom, Charles T., and Andrea Pescatori, “Conducting Monetary Policy when Interest Rates Are Near Zero,” Economic Commentary, Federal Reserve Bank of Cleveland (October 2009).Keister, Todd, and James J. McAndrews, “Why Are Banks Holding So Many Excess Reserves?” Current Issues in Economics and Finance, Federal Reserve Bank of New York (December 2009).Kohn, Donald I., Statement before the Senate Committee on Banking, Housing and Urban Affairs (March 1, 2006).Makin, John, “The Rising Threat of Deflation,” Economic Outlook, American Enterprise Institute (July 2010).Minegishi, Makoto, and Boris Cournède, “Monetary Policy Responses to the Crisis and Exit Strategies,” Economics Department Working Paper, Organization for Economic Cooperation and Development (February 18, 2010).Svensson, Lars E.O., “Escaping from a Liquidity Trap and Deflation: The Foolproof Ways and Others,” Journal of Economic Perspectives (Fall 2003).Svensson, Lars E.O., “Monetary Policy with a Zero Interest Rate,” Sveriges Riksbank (February 17, 2010). Bruce Bartlett is an American historian and columnist who focuses on the intersection between politics and economics. He blogs daily and writes a weekly column at The Fiscal Times. Read his most recent column here. Bartlett has written for Forbes Magazine and Creators Syndicate, and his work is informed by many years in government, including as a senior policy analyst in the Reagan White House. He is the author of seven books including the New York Times best-seller, Impostor: How George W. Bush Bankrupted America and Betrayed the Reagan Legacy (Doubleday, 2006).