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James A. Clouse

Education

  • Ph.D., Economics, Northwestern University, 1985
  • B.A., Economics, Princeton University, 1981
Current Research Topics
  • Monetary Policy Strategy and Implementation; Central Bank Liquidity Tools
  • Economist

    Board of Governors of the Federal Reserve System

    1989 - present
  • Army Officer

    United States Army

    1985 - 1989
  • Deputy Assistant Secretary

    U.S. Treasury

    2005 - 2006
  • Balancing Before and After: Treasury Market Reform Proposals and the Connections Between Ex-Ante and Ex-Post Liquidity Tools
    James A. Clouse
    Finance and Economics Discussion Series (2022)
    https://doi.org/10.17016/FEDS.2022.004
  • Price Level Risk and Some Long-Run Implications of Alternative Monetary Policy Strategies
    James A. Clouse
    Finance and Economics Discussion Series (2020)
    https://doi.org/10.17016/FEDS.2020.094
  • Short Takes on Monetary Policy Strategy: An Introduction to Some Basic Concepts
    James A. Clouse
    Finance and Economics Discussion Series (2018)
    https://doi.org/10.17016/FEDS.2018.089
  • The Federal Reserve's Tools for Policy Normalization in a Preferred Habitat Model of Financial Markets
    Han Chen, James A. Clouse, Jane Ihrig, and Elizabeth Klee
    Journal of Money, Credit and Banking (2016)
    https://doi.org/10.1111/jmcb.12322
    See also » FRB Working Paper (2014)
  • Monetary Policy and Financial Stability Risks
    James A. Clouse
    Finance and Economics Discussion Series (2013)
    https://doi.org/10.17016/FEDS.2013.41
  • The Scope of Monetary Policy Actions Authorized under the Federal Reserve Act
    David H. Small and James Clouse
    B.E. Journal of Macroeconomics (2005)
    https://doi.org/10.2202/1534-5998.1255
    See also » FRB Working Paper (2004)
  • Reading the Minds of Investors: An Empirical Term Structure Model for Policy Analysis
    James A. Clouse
    Finance and Economics Discussion Series (2004)
    https://doi.org/10.17016/FEDS.2004.64
  • Monetary Policy When the Nominal Short-Term Interest Rate Is Zero
    James Clouse, Dale Henderson, Athanasios Orphanides, David H. Small, and P.A. Tinsley
    B.E. Journal of Macroeconomics (2003)
    https://doi.org/10.2202/1534-5998.1088
    See also » FRB Working Paper (2000)
  • A Computational Model of Banks' Optimal Reserve Management Policy
    James A. Clouse and James P. Dow Jr.
    Journal of Economic Dynamics & Control (2002)
    https://doi.org/10.1016/S0165-1889(01)00010-0
  • Are U.S. Reserve Requirements Still Binding? Commentary
    James A. Clouse
    Economic Policy Review (2002)
  • Fixed Costs and the Behavior of the Federal Funds Rate
    James A. Clouse and James P. Dow Jr.
    Journal of Banking & Finance (1999)
    https://doi.org/10.1016/S0378-4266(98)00128-9
  • Declining Required Reserves and the Volatility of the Federal Funds Rate
    James A. Clouse and Douglas W. Elmendorf
    Finance and Economics Discussion Series (1997)
    https://doi.org/10.17016/FEDS.1997.30
  • Recent Developments in Discount Window Policy
    James A. Clouse
    Federal Reserve Bulletin (1994)
  • Some Monetary Policy Implications of Safety and Soundness Reforms
    James A. Clouse
    Finance and Economics Discussion Series (1993)
Last update: March 7, 2022