Monetary policy and risk management at a time of low inflation and low unemployment

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Blanchard, Olivier. 2016. The U.S. Phillips Curve: Back to the 60s? Policy Brief PB16-1. Washington: Peterson Institute for International Economics, January, https://piie.com/publications/pb/pb16-1.pdf .

Blinder, Alan S. 2018. Is the Phillips Curve Dead? And Other Questions for the Fed, Wall Street Journal, May 3.

Erceg, Christopher, James Hebden, Michael Kiley, David López-Salido, and Robert Tetlow. 2018. Some Implications of Uncertainty and Misperception for Monetary Policy. Finance and Economics Discussion Series 2018-059. Washington: Board of Governors of the Federal Reserve System, August, https://doi.org/10.17016/FEDS.2018.059 .

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Kiley, Michael T. 2015. Low Inflation in the United States: A Summary of Recent Research. FEDS Notes. Washington: Board of Governors of the Federal Reserve System, November 23, https://www.federalreserve.gov/econresdata/notes/feds-notes/2015/low-inflation-in-the-united-states-a-summary-of-recent-research-20151123.html .

Pfajfar, Damjan, and John M. Roberts. 2018. The Role of Expectations in Changed Inflation Dynamics. Finance and Economics Discussion Series 2018-062. Washington: Board of Governors of the Federal Reserve System, August, https://www.federalreserve.gov/econres/feds/files/2018062pap.pdf .

Powell, Jerome H. 2018. Monetary Policy in a Changing Economy, Speech Delivered at “Changing Market Structure and Implications for Monetary Policy,” A Symposium Sponsored by the Federal Reserve Bank of Kansas City, held in Jackson Hole, Wyoming, August 23–25, https://www.federalreserve.gov/newsevents/speech/powell20180824a.htm .

Romer, Christina D., and David H. Romer. 2002. The Evolution of Economic Understanding and Postwar Stabilization Policy, paper presented at “Rethinking Stabilization Policy,” a symposium sponsored by the Federal Reserve Bank of Kansas City, held in Jackson Hole, Wyoming, August 29–31, https://www.kansascityfed.org/publicat/sympos/2002/pdf/S02RomerandRomer.pdf .

Stein, Herbert. 1998. What I Think: Essays on Economics, Politics, and Life. Washington: AEI Press.

Yellen, Janet L. 2015. “Inflation Dynamics and Monetary Policy,” Speech Delivered at the Philip Gamble Memorial Lecture, University of Massachusetts, Amherst, September 24, https://www.federalreserve.gov/newsevents/speech/yellen20150924a.htm .

Yellen, Janet L. 2017. Inflation, Uncertainty, and Monetary Policy,” speech delivered at “Prospects for Growth: Reassessing the Fundamentals, 59th Annual Meeting of the National Association for Business Economics, Cleveland, Ohio, September 26, https://www.federalreserve.gov/newsevents/speech/yellen20170926a.htm .