Honoring Marvin Goodfriend
Essays related to Marvin and his work:
Marvin's research and policy papers:
Marvin Goodfriend's legacy:
Collected Research and Policy Papers Discussed in Above Essays
Goodfriend, Marvin. 1982. "An Alternate Method of Estimating the Cagan Money Demand Function in Hyperinflation Under Rational Expectations." Journal of Monetary Economics 9, no. 1, 43-57. (See related essay by Mark W. Watson.)
Goodfriend, Marvin. 1986. "Monetary Mystique: Secrecy and Central Banking." Journal of Monetary Economics 17, no. 1 (January), 63-92. (See related essay by Lars E.O. Svensson.)
Goodfriend, Marvin. 1987. "Interest Rate Smoothing and Price Level Trend-Stationarity." Journal of Monetary Economics 19, no. 3 (May), 335-348. (See related essay by Michael Dotsey, Andreas Hornstein and Alexander L. Wolman.)
Goodfriend, Marvin, and Robert G. King. 1988. “Financial Deregulation, Monetary Policy, and Central Banking.” Federal Reserve Bank of Richmond Economic Review 74 (May/June): 3-22. (See related essay by Douglas W. Diamond.)
Goodfriend, Marvin. 1991. "Interest Rates and the Conduct of Monetary Policy." Carnegie-Rochester Conference Series on Public Policy 34 (Spring), pp. 7-30. (See related essay by John B. Taylor.)
Goodfriend, Marvin. 1993. "Interest Rate Policy and the Inflation Scare Problem: 1979-1992." Federal Reserve Bank of Richmond Economic Quarterly 79, no. 1 (Winter): 1-23.
Goodfriend, Marvin. 1994. “Why We Need an ‘Accord’ for Federal Reserve Credit Policy: A Note.” Journal of Money, Credit and Banking 26, no. 3 (August): 572-580. (See related essay by Charles Plosser.)
Goodfriend, Marvin, and Robert G. King. 1997. “The New Neoclassical Synthesis and the Role of Monetary Policy.” In NBER Macroeconomics Annual 1997, edited by Ben S. Bernanke and Julio J. Rotemberg, 231-283. Cambridge and London: National Bureau of Economic Research. (See related essay by Michael Woodford.)
Goodfriend, Marvin, and John McDermott. 1998. “Industrial Development and the Convergence Question.” American Economic Review 88, no. 5 (December): 1277-1289. (See related essay by Sergio T. Rebelo and Pierre-Daniel G. Sarte.)
Goodfriend, Marvin, and Jeffrey Lacker. 1999. “Limited Commitment and Central Bank Lending.” Federal Reserve Bank of Richmond Economic Quarterly 85, no. 4 (Fall): 1-27. (See related essay by Kartik B. Athreya and Stephen D. Williamson.)
Goodfriend, Marvin. 1999a. “The Role of a Regional Bank in a System of Central Banks.” Carnegie-Rochester Conference Series on Public Policy 51 (December): 51-71. Reprinted as Goodfriend, Marvin. 2000. Federal Reserve Bank of Richmond Economic Quarterly 86, no. 1 (Winter). (See related essay by Michael Bordo and Edward S. Prescott.)
Goodfriend, Marvin. 2000. “Overcoming the Zero Bound on Interest Rate Policy.” Journal of Money, Credit and Banking 32, no. 4, part 2 (November): 1007-35. (See related essay by Ben S. Bernanke.)
Goodfriend, Marvin, and Robert G. King. 2001. "The Case for Price Stability." In Why Price Stability? Proceedings of the First ECB Central Banking Conference, edited by A. Garcia-Herrero, V. Gaspar, L. Hoogduin, J. Morgan, and B. Winkler, 53-94. Frankfurt, Germany: European Central Bank. (See related essay by Vitor Gaspar and Frank Smets.)
Goodfriend, Marvin. 2002. "Interest on Reserves and Monetary Policy." Federal Reserve Bank of New York Economic Policy Review 8, no. 1 (May). (See related essay by Huberto M. Ennis and John A. Weinberg.)
Goodfriend, Marvin. 2004. "Inflation Targeting in the United States?" In The Inflation-Targeting Debate, edited by B. Bernanke and M. Woodford, 311-352. Chicago: The University of Chicago Press. (See related essay by Robert G. King and Yang K. Lu.)
Goodfriend, Marvin, and Robert G. King. 2005. “The Incredible Volcker Disinflation.” Journal of Monetary Economics 52, no. 5 (July): 981-1015. (See related essay by Thomas J. Sargent.)
Goodfriend, Marvin. 2007. “How the World Achieved Consensus on Monetary Policy.” Journal of Economic Perspectives 21, no. 4 (Fall): 47-68. (See related essay by Mark Gertler.)
Additional papers will be added soon.
The Collaboration of Research Economists (CORE) Week model combines frontier research and an innovative delivery method to advance collaboration within the economics profession.
In 2022, the Richmond Fed introduced the Marvin S. Goodfriend Conference, then later added the Goodfriend Memorial Lecture in 2023. Held every three years as part of CORE Week, the Goodfriend Conference focuses on research related to macroeconomics, policy or other topics of central bank importance, while the Goodfriend Memorial Lecture occurs during CORE Week at least once per year and invites a prominent economist in the field to share their work.
Visit the CORE Week page to learn more about the CORE Week model and associated efforts to honor Goodfriend’s legacy.