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Home > Former President Jim Bullard > Research Papers From the President Optimal Monetary Policy at the Zero Lower Bound May 28, 2015 In a new research working paper, St. Louis Fed President James Bullard and his co-authors examine options for optimal monetary policy when the policy rate remains at zero. Since the policy implications of their model appear to be quite different from current policy, the authors encourage further research on this topic. Working paper version (pdf) | Press Release Published version: "Incomplete Credit Markets and Monetary Policy," with Costas Azariadis, Aarti Singh and Jacek Suda, Journal of Economic Dynamics and Control, June 2019, 103, pp. 83-101. Related News Articles: • One possible lesson from the Great Recession that the GOP should consider, by James Pethokoukis, AEIdeas. • Fed's Bullard Urges GDP Target as Strategy With Zero Policy Rate, by Steve Matthews, Bloomberg. • Bullard: Vows of Higher Prices Can Help in ZLB State, by Gary Siegel, The Bond Buyer Online. • Fed Of�cial Questions Post-Crisis Monetary Policy, by Matthew Heller, CFO.com. • Fed Should Consider New Ways to Counter Weak Growth, Bullard Says, by Pedro Nicolaci da Costa, Dow Jones Institutional News. • What went wrong in 2008? by Scott Sumner, EconLog. • St. Louis Fed's Bullard comes out in support of NGDP targeting, The Market Monetarist. • St Louis Fed's Bullard: Nominal GDP Target May Be Optimal Pol, by Karen Mracek, Market News International. • Fed's Bullard: 'Questionable' bene�ts of zero rates should prompt new policy, by Greg Robb, MarketWatch. • Fed's Bullard: low rate vow is 'not helpful,' GDP targeting is, by Ann Saphir, Reuters News. • Bullard, Et Al, On NGDP Targeting, by Scott Sumner, Seeking Alpha. • Why this Fed of�cial believes the central bank should rethink everything, by Ylan Q. Mui, Washington Post.com. • Fed's Bullard: Near- zero rate not the way to spark economy, by Paul Davidson, USA Today.
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