Monetary economics.

• Position: Program and Working Group Meetings

The NBER's Monetary Economics Program, directed by Christina Romer and David Romer of the University of California, Berkeley, met in New York City on March 7, 2014. NBER researchers John Leahy and Virgiliu Midrigan of New York University organized the program. These papers were discussed:

* Xavier Gabaix and Matteo Maggiori, New York University and NBER, "International Liquidity and Exchange Rate Dynamics" (NBER Working Paper No. 19854)

* Roc Armenter, Federal Reserve Bank of Philadelphia, "The Perils of Nominal Targets"

* Francesco Bianchi, Duke University, and Cosmin Ilut, Duke University and NBER, "Monetary/Fiscal Policy Mix and Agents' Beliefs"

* Christina Romer and David Romer, "Transfer Payments and the Macroeconomy: The Effects of Social Security Benefit Changes...