Monetary economics.

• Position: Program and Working Group Meetings

Members and guests of the NBER'S Program on Monetary Economics met on March 5, 2010 at the Federal Reserve Bank of New York. Mark Gertler, NBER and New York University, and Emi Nakamura, NBER and Columbia Business School, organized the meeting. These papers were discussed:

* Martin Ellison, University of Oxford, and Thomas J. Sargent, New York University and NBER, "A Defense of the FOMC"

* V.V. Chari, University of Minnesota and NBER, and Patrick Kehoe, Federal Reserve Bank of Minneapolis and NBER, "Bailouts, Time Inconsistency, and Optimal Regulation"

* Pietro Veronesi and Luigi Zingales, University of Chicago and NBER, "Paulson's Gift"(NBER Working Paper No. 15458)

* Markus K. Brunnermeier, Princeton University and NBER, and Yuliy Sannikov, Princeton University, "A Macroeconomic Model with a Financial...