Economic Policy Review
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Volume 6, Number 1 April 2000

Fiscal Policy in an Era of Surpluses: Economic and Financial Implications
Proceedings of a Conference Sponsored by the Federal Reserve Bank of New York, December 3,1999

Opening Remarks
PDF2 pages / 55 kb
William J. McDonough
Summary of Observations and Recommendations PDF3 pages / 81 kb
Richard Peach and Charles Steindel
Session 1
Formation of Fiscal Policy: The Experience of the Past Twenty-Five Years
PDF15 pages / 170 kb
Alan J. Auerbach
CommentaryPDF3 pages / 16 kb
Barry Bosworth
CommentaryPDF4 pages / 120 kb
C. Eugene Steuerle
Session 2
The Automatic Fiscal Stabilizers: Quietly Doing Their Thing
PDF34 pages / 303 kb
Darrel Cohen and Glenn Follette
CommentaryPDF6 pages / 114 kb
Olivier Blanchard
Distinguished Address
The Near-Term Outlook for Fiscal PolicyPDF4 pages / 85 kb
Rudolph G. Penner
Keynote Address
Fiscal Policy in an Era of Surpluses
PDF3 pages / 79 kb
Gary Gensler
Session 3
Enhancing the Liquidity of U.S. Treasury Securities in an Era of Surpluses
PDF31 pages / 458 kb
Paul Bennett, Kenneth Garbade, and JohnKambhu
CommentaryPDF2 pages / 79 kb
Vaughn O’Regan
CommentaryPDF3 pages / 85 kb
Charles H. Parkhurst
Session 4
The Benchmark U.S. Treasury Market: Recent Performance and Possible Alternatives

PDF17 pages / 235 kb
Michael J. Fleming
CommentaryPDF2 pages / 78 kb
Lou Crandall
CommentaryPDF5 pages / 92 kb
Thomas C. Glaessner
CommentaryPDF3 pages / 80 kb
Stan Jonas
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