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Economic Policy Review
The Economic Policy Review is published by the Research and Statistics Group of the Federal Reserve Bank of New York. Articles undergo a comprehensive refereeing process prior to their acceptance in the Review. The views expressed in the articles are those of the individual authors and do not necessarily reflect the position of the Federal Reserve Bank of New York or the Federal Reserve System.
 
Editorial Board

Kenneth D. Garbade   Editor

Mary Amiti   Coeditor

Adam B. Ashcraft   Coeditor

Robert W. Rich   Coeditor

Asani Sarkar   Coeditor

Advisory Board
Andrew Abel  University of Pennsylvania
Timothy Bollerslev  Duke University
Charles Calomiris  Columbia University
Stephen G. Cecchetti  Brandeis University
Richard Clarida  Columbia University
Francis X. Diebold  University of Pennsylvania
Franklin Edwards  Columbia University
Henry S. Farber  Princeton University
Mark Flannery  University of Florida, Gainesville
Mark Gertler  New York University
Gary Gorton  University of Pennsylvania
James D. Hamilton  University of California, San Diego
Bruce E. Hansen  University of Wisconsin
John Heaton  University of Chicago
Richard J. Herring  University of Pennsylvania
Robert J. Hodrick  Columbia University
Christopher M. James  University of Florida, Gainesville
Kose John  New York University
Edward Kane  Boston College
Deborah Lucas  Northwestern University
Richard Lyons  University of California, Berkeley
Maurice Obstfeld  University of California, Berkeley
Raghuram G. Rajan  University of Chicago
Kenneth Rogoff  Harvard University
Christopher Sims  Princeton University
Kenneth D. West  University of Wisconsin
Stephen Zeldes  Columbia University
Editorial Staff
Valerie LaPorte
Mike De Mott
Michelle Bailer
Karen Carter
Production Staff
Carol Perlmutter
David Rosenberg
Jane Urry