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Meet the Economists

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James A. Clouse

Deputy Director Program Direction Section Monetary Affairs
202-452-3922
james.a.clouse@frb.gov

Education

  • Ph.D., Economics, Northwestern University, 1985
  • B.A., Economics, Princeton University, 1981
Current Research Topics
  • Monetary Policy Strategy and Implementation
  • 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
  • Clouse, James A. (2020). "Price Level Risk and Some Long-Run Implications of Alternative Monetary Policy Strategies," Finance and Economics Discussion Series 2020-094. Board of Governors of the Federal Reserve System (U.S.).
  • Clouse, James A. (2018). "Short Takes on Monetary Policy Strategy: An Introduction to Some Basic Concepts," Finance and Economics Discussion Series 2018-089. Board of Governors of the Federal Reserve System (U.S.).
  • Chen, Han, James A. Clouse, Jane Ihrig, and Elizabeth Klee (2016). "The Federal Reserve's Tools for Policy Normalization in a Preferred Habitat Model of Financial Markets," Journal of Money, Credit and Banking, vol. 48, no. 5, pp. 921-955.
  • Chen, Han, James A. Clouse, Jane Ihrig, and Elizabeth Klee (2014). "The Federal Reserve's Tools for Policy Normalization in a Preferred Habitat Model of Financial Markets," Finance and Economics Discussion Series 2014-83. Board of Governors of the Federal Reserve System (U.S.).
  • Clouse, James A. (2013). "Monetary Policy and Financial Stability Risks," Finance and Economics Discussion Series 2013-41. Board of Governors of the Federal Reserve System (U.S.).
  • Small, David H., and James Clouse (2005). "The Scope of Monetary Policy Actions Authorized Under the Federal Reserve Act," B.E. Journals in Macroeconomics: Topics in Macroeconomics, vol. 5, no. 1, pp. 1-41.
  • Clouse, James A. (2004). "Reading the Minds of Investors: An Empirical Term Structure Model for Policy Analysis," Finance and Economics Discussion Series 2004-64. Board of Governors of the Federal Reserve System (U.S.).
  • Small, David H., and James A. Clouse (2004). "The Scope of Monetary Policy Actions Authorized Under the Federal Reserve Act," Finance and Economics Discussion Series 2004-40. Board of Governors of the Federal Reserve System (U.S.).
  • Clouse, James (2003). "Monetary Policy When the Nominal Short-Term Interest Rate is Zero," Topics in Macroeconomics, vol. 3, no. 1.
  • Clouse, James A. (2002). "Are U.S. Reserve Requirements Still Binding? Commentary," Federal Reserve Bank of New York Economic Policy Review, vol. 8, no. 1, pp. 69-71.
  • Clouse, James A., and James P. Dow Jr. (2002). "A Computational Model of Banks' Optimal Reserve Management Policy," Journal of Economic Dynamics and Control, vol. 26, no. 11, pp. 1787-1814.
  • Clouse, James, Dale Henderson, Athanasios Orphanides, David Small, and Peter Tinsley (2000). "Monetary Policy When the Nominal Short-Term Interest Rate is Zero," Finance and Economics Discussion Series 2000-51. Board of Governors of the Federal Reserve System (U.S.).
  • Clouse, James A., and James P. Dow Jr. (1999). "Fixed Costs and the Behavior of the Federal Funds Rate," Journal of Banking and Finance, vol. 23, no. 7, pp. 1015-1029.
  • Clouse, James A., and Douglas W. Elmendorf (1997). "Declining Required Reserves and the Volatility of the Federal Funds Rate," Finance and Economics Discussion Series 1997-30. Board of Governors of the Federal Reserve System (U.S.).
  • Clouse, James A. (1994). "Recent Developments in Discount Window Policy," Federal Reserve Bulletin, vol. 80, no. 11, pp. 965-977.
  • Clouse, James A. (1993). "Some Monetary Policy Implications of Safety and Soundness Reforms," Finance and Economics Discussion Series 93-31. Board of Governors of the Federal Reserve System (U.S.).
Last update: November 16, 2020