Jeffrey M. Lacker - Author (original) (raw)
Jeffrey M. Lacker was president of the Federal Reserve Bank of Richmond from 2004 to 2017. Lacker is currently a senior affiliated scholar at the Mercatus Center at George Mason University.
- Academic Publications
"What Monetary Policy Can Do." The Cato Journal 36, no. 2 (Spring/Summer 2016), 261-268.
"Fed Credit Policy: What is a Lender of Last Resort." Journal of Economic Dynamics and Control 49 (December 2014): 135-138.
"Understanding the Interventionist Impulse of the Modern Central Bank." The Cato Journal 32, no. 2 (Spring/Summer 2012): 247-253.
"Reflections on Economics, Policy and the Financial Crisis." Journal of Applied Economics and Policy 30 (Spring 2011): 61-66.
"Government Lending and Monetary Policy." Business Economics 44 (July 2009): 136-142.
"What Lessons Can We Learn From the Boom and Turmoil?" The Cato Journal 29, no. 1 (Winter 2009): 53-63.
"Financial Stability and Central Banks." European Economics & Financial Centre Economic and Financial Review 15 (Autumn 2008): 103-118.
"Payment Economics and the Role of Central Banks." In The Future of Payment Systems edited by Andrew G. Haldane, Stephen Millard and Victoria Saporta. London, U.K.: Routledge, (2008): 68-72.
"Payment System Disruptions and the Federal Reserve Following September 11, 2001." Journal of Monetary Economics 51, no. 5 (July 2004): 935-965.
"Payment Economics: Studying the Mechanics of Exchange" (with John A. Weinberg). Journal of Monetary Economics 50, no. 2 (March 2003): 381-387.
"Collateralized Debt as the Optimal Contract." Review of Economic Dynamics 4, no. 4 (October 2001): 842-859.
"The CLS Bank: A Solution to the Risks of International Payments Settlement? A Comment." Carnegie-Rochester Conference Series on Public Policy 54 (June 2001): 227-233.
"Comment on Redemption Costs and Interest Rates under the U.S. National Banking System." Journal of Money, Credit, and Banking 31, no. 3 (August 1999): 590-593.
"Coalition-Proof Allocations in Adverse-Selection Economies" (with John A. Weinberg). Geneva Papers on Risk and Insurance Theory 24, no. 1 (June 1999): 5-17.
"Clearing, Settlement and Monetary Policy." Journal of Monetary Economics 40, no. 2 (October 1997): 347-381.
"Money and Credit as Means of Payment" (with Stacey L. Schreft). Journal of Monetary Economics 38, no. 1 (August 1996): 3-23.
"A 'Coalition Proof' Equilibrium for a Private Information Credit Economy" (with John A. Weinberg). Economic Theory 3, no. 2 (April 1993): 279-296.
"Inside Money and Real Output: A Reinterpretation." Journal of Macroeconomics 12, no. 1 (Winter 1990): 65-79.
"Incentive Compatible Financial Contracts, Asset Prices, and the Value of Control" (with Robert J. Levy and John A. Weinberg). Journal of Financial Intermediation 1, no. 1 (March 1990): 31-56.
"Optimal Contracts under Costly State Falsification" (with John A. Weinberg). Journal of Political Economy 97, no. 6 (December 1989): 1345-1363.
"Financial Intermediation, Optimality, and Efficiency." Canadian Journal of Economics 22, no. 2 (May 1989): 364-382.
"Inside Money and Real Output." Economics Letters 28, no. 1 (1988): 9-14. - Working Papers
December 2003, No. 03-16
The monetary and payment system consequences of the September 11, 2001, terrorist attacks are reviewed and compared to selected U.S. banking crises. Interbank payment disruptions appear to be the central feature of all the crises reviewed.
Jeffrey M. Lacker
May 1998, No. 98-4
Jeffrey M. Lacker
January 1997, No. 97-1
This paper develops a general equilibrium model of the clearing and settlement of private payment instruments.
Jeffrey M. Lacker
April 1996, No. 96-3
A model in which both currency and stored value cards are used to make payments is presented. I compare steady-state equilibria with and without stored value cards.
Jeffrey M. Lacker
July 1994, No. 94-9 (Revised Sep. 1995)
November 1989, No. 90-3R2
The main result of this paper is a set of conditions under which the collateralized debt contract is the optimal allocation in this environment.
Jeffrey M. Lacker
August 1989, No. 90-2 (Revised Dec. 1989)
A costly 'facility' has a monopoly on the ability to coerce transfers and verify all private information. If invoked, the facility reads instructions recorded ex ante, and carries out the contingent transfers among agents, charging agents for the cost.
Jeffrey M. Lacker - Bank Publications
Jed L. DeVaro and Jeffrey M. Lacker - Speeches
March 3, 2017
Jeffrey M. Lacker
U.S. Monetary Policy Forum
Grand Hyatt New York
New York, New York
Feb. 14, 2017
Jeffrey M. Lacker
John M. Clayton Hall Conference Center
University of Delaware
Newark, Delaware
Jan. 6, 2017
Jeffrey M. Lacker
Maryland Bankers Association
The Baltimore Marriott Waterfront
Baltimore, Maryland
Oct. 5, 2016
Jeffrey M. Lacker
Marshall University
Huntington, West Virginia
Oct. 4, 2016
Jeffrey M. Lacker
West Virginia Economic Outlook Conference
Charleston, West Virginia
Sept. 7, 2016
Jeffrey M. Lacker
Subcommittee on Monetary Policy and Trade of the House Financial Services Committee
Rayburn House Office Building
Washington, Washington, D.C.
Sept. 2, 2016
Jeffrey M. Lacker
The Virginia Association of Economists and the Richmond Association for Business Economics
Federal Reserve Bank of Richmond
Richmond, Virginia
April 12, 2016
Jeffrey M. Lacker
Chancellor’s Distinguished Lecture Series
University of North Carolina, Wilmington
Wilmington, North Carolina
March 21, 2016
Jeffrey M. Lacker
Banque de France Conference Center
Paris - France
Feb. 24, 2016
Jeffrey M. Lacker
The Johns Hopkins Carey Business School
Legg Mason Building, 4th Floor Commons
Baltimore, Maryland
Jan. 12, 2016
Jeffrey M. Lacker
South Carolina Business & Industry Political Education Committee
Columbia Marriott
Columbia, South Carolina
Jan. 8, 2016
Jeffrey M. Lacker
Maryland Bankers Association
The Renaissance Harborplace Hotel
Baltimore, Maryland
Jan. 7, 2016
Jeffrey M. Lacker
Greater Raleigh Chamber of Commerce
Duke Energy Center for the Performing Arts, Meymandi Hall
Raleigh, North Carolina
Nov. 12, 2015
Jeffrey M. Lacker
Cato Institute 33rd Annual Monetary Policy Conference
Oct. 19, 2015
Jeffrey M. Lacker
University of Richmond Jepson Alumni Center
Richmond, Virginia
Sept. 4, 2015
Jeffrey M. Lacker
Retail Merchants Association
The Westin Richmond
Richmond, Virginia
May 26, 2015
Jeffrey M. Lacker
Union Theatre, Louisiana State University
Baton Rouge, Louisiana
April 15, 2015
Jeffrey M. Lacker
Belmond Charleston Place Hotel
Charleston, South Carolina
April 10, 2015
Jeffrey M. Lacker
Global Interdependence Center
Sarasota, Florida
March 31, 2015
Jeffrey M. Lacker
Greater Richmond Chamber of Commerce
Federal Reserve Bank of Richmond
Richmond, Virginia - Other Work
"On Systemic Risk." Comments presented at the Second Joint Central Bank Research Conference on Risk Measurement and Systemic Risk, Bank of Japan, November 16-17, 1998.
Our Team
Jeffrey M. Lacker was president of the Federal Reserve Bank of Richmond from 2004 to 2017. Lacker is currently a Distinguished Professor in the Department of Economics at Virginia Commonwealth University.