Monetary economics.

• Position: Program and Working Group Meetings

The NBERs Program on Monetary Economics met in New York on March 4. Faculty Research Fellows Olivier Coibion of the University of Texas at Austin and Eric T. Swanson of the University of California, Irvine, organized the meeting. These researchers' papers were presented and discussed:

* Sydney C. Ludvigson, New York University and NBER; Sai Ma, New York University; and Serena Ng, Columbia University, "Uncertainty and Business Cycles: Exogenous Impulse or Endogenous Response?" (NBER Working Paper No. 21803)

* Stefania Albanesi, Ohio State University; Giacomo De Giorgi, Federal Reserve Bank of New York; Jaromir Nosal, Boston College; and Matthew Ploenzke, Harvard University, "Credit Growth and the Financial Crisis: A New Narrative"

* Marco Di Maggio, Columbia University, and Amir Kermani and Christopher Palmer, University of California, Berkeley, "Unconventional Monetary Policy and the Allocation of...