Think long / George P. Shultz -- Policy principles : lessons from the Fed's past / Allan H. Meltzer -- The market view : incentives matter / Peter Fisher -- Monetary policy in the financial crisis / Donald Kohn -- Concerns about the Fed's new balance sheet / James D. Hamilton -- The need for a...

Renewed interest in fiscal policy has increased the use of quantitative models to evaluate policy. Because of modeling uncertainty, it is essential that policy evaluations be robust to alternative assumptions. We find that models currently being used in practice to evaluate fiscal policy...