Our Team
Jeffrey M. Lacker
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.
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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.
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Working Papers
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Bank Publications
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Speeches
March 3, 2017U.S. Monetary Policy Forum
Grand Hyatt New York
New York, New YorkFeb. 14, 2017John M. Clayton Hall Conference Center
University of Delaware
Newark, DelawareJan. 6, 2017Maryland Bankers Association
The Baltimore Marriott Waterfront
Baltimore, MarylandOct. 5, 2016Marshall University
Huntington, West VirginiaOct. 4, 2016West Virginia Economic Outlook Conference
Charleston, West VirginiaSept. 7, 2016Subcommittee on Monetary Policy and Trade of the House Financial Services Committee
Rayburn House Office Building
Washington, Washington, D.C.Sept. 2, 2016The Virginia Association of Economists and the Richmond Association for Business Economics
Federal Reserve Bank of Richmond
Richmond, VirginiaApril 12, 2016Chancellor’s Distinguished Lecture Series
University of North Carolina, Wilmington
Wilmington, North CarolinaMarch 21, 2016Banque de France Conference Center
Paris - FranceFeb. 24, 2016The Johns Hopkins Carey Business School
Legg Mason Building, 4th Floor Commons
Baltimore, MarylandJan. 12, 2016South Carolina Business & Industry Political Education Committee
Columbia Marriott
Columbia, South CarolinaJan. 8, 2016Maryland Bankers Association
The Renaissance Harborplace Hotel
Baltimore, MarylandJan. 7, 2016Greater Raleigh Chamber of Commerce
Duke Energy Center for the Performing Arts, Meymandi Hall
Raleigh, North CarolinaNov. 12, 2015Cato Institute 33rd Annual Monetary Policy ConferenceOct. 19, 2015University of Richmond Jepson Alumni Center
Richmond, VirginiaSept. 4, 2015Retail Merchants Association
The Westin Richmond
Richmond, VirginiaMay 26, 2015Union Theatre, Louisiana State University
Baton Rouge, LouisianaApril 15, 2015Belmond Charleston Place Hotel
Charleston, South CarolinaApril 10, 2015Global Interdependence Center
Sarasota, FloridaMarch 31, 2015Greater 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.