Monetary Economics.

• Position: Program and Working Group Meetings

The NBER's Program on Monetary Economics met at the Federal Reserve Bank of New York on March 20. NBER Research Associates Laurence Ball of Princeton University and Justin Wolfers of the University of Pennsylvania organized this program:

* Francesco Trebbi and Atif R. Mian, University of Chicago and NBER, and Amir Sufi, University of Chicago, "The Political Economy of the U.S. Mortgage Default Crisis"

* Thomas Philippon, New York University and NBER, and Philipp Schnabl, New York University, "CostEfficient Mechanisms against Debt Overhang"

* Simon Gilchrist, Boston University and NBER; Vladimir Yankov, Boston University; and Egon Zakrajsek, Federal Reserve Board, "Credit Market Shocks and Economic Fluctuations: Evidence from Corporate Bond and Stock Markets"

* Carmen M. Reinhart, University of Maryland and...