Monetary economics.

• Position: Program and Working Group Meetings

The NBER's Program on Monetary Economics met in Cambridge on November 6. Research Associates Gauti Eggertsson of Brown University and James Stock of Harvard University organized the meeting. These papers were discussed:

* Marco Del Negro and Marc Giannoni, Federal Reserve Bank of New York, and Christina H. Patterson, MIT, "The Forward Guidance Puzzle"

* Francesco D'Acunto, University of Maryland; Daniel Hoang, Karlsruhe Institute of Technology; and Michael Weber, University of Chicago, "Inflation Expectations and Consumption Expenditure"

* Mariana Garcia-Schmidt, Columbia University, and Michael Woodford, Columbia University and NBER, "Are Low Interest Rates Deflationary? A Paradox of Perfect-Foresight Analysis" (NBER Working Paper No. 21614)

* Valerie Ramey, University of California, San Diego, and NBER, "Macroeconomic Shocks and Their Propagation...