Party on Financial Sector Consolidation. The Working Party released its final report on January 25, 2001. Alan Greenspan has called Ferguson "one of the most effective Vice Chairmen in the history of the Federal Reserve." Ferguson proposed the idea of a journal dedicated to central banking theory and practice. The resulting International Journal of Central Banking was announced in 2004 and first published in 2005, with two objectives: to disseminate widely the best policy-relevant research on central banking and to promote communication among central banks. The IJCB has more than 50 sponsoring institutions. With three co-authors, in November 2007 Ferguson published "International Financial Stability", Geneva Report No. 9, dealing with challenges to global financial stability and including observations regarding the liquidity crisis of 2007. Ferguson served as the vice chairman of the Group of 30 study group that published "The Structure of Financial Supervision: Approaches and Challenges in a Global Marketplace". The study of the regulatory structure of 17 jurisdictions was released on October 6, 2008. Ferguson served as chairman of the Group of 30 study group that published "Enhancing Financial Stability and Resilience: Macroprudential Policy, Tools and Systems for the Future". The study called on public officials to empower systemic regulators with new tools to enhance the stability and resilience of the global financial system and potentially lessen the severity of future crises. The study was released on October 10, 2010. Between 2008 and 2012, Ferguson served as economic advisor to President Obama, initially as a member of the President-elect's Transition Economic Advisory Board and subsequently as a member of the President's Economic Recovery Advisory Board and the President's Commission on Jobs and Competitiveness Ferguson served as chairman of the Group of 30 study group that published "Toward Effective Governance of Financial Institutions". The study, which has been translated into three languages. made several concrete and practical recommendations to enhance governance of financial institutions, including recommendations for management, boards of directors, supervisors and shareholders. The study was released on April 12, 2012. Ferguson served as co-chairman of the Group of 30 study group that published "Banking Conduct and Culture: A Call for Sustained and Comprehensive Reform". Following two previous reports, the study expands on the role of conduct and culture in the governance of the world's largest financial institutions. The report identifies shortcomings but also good practice in promoting a strong banking culture, making a series of recommendations that