Libsyn Directory

Anat Admati on the Perils of Corporate Debt and How COVID-19 Relief Efforts Have Gone Wrong

Release Date: 05/06/2020

Hugh Rockoff on Optimal Currency Areas, “Yellowbacks,” and Free Banking

Macro Musings with David Beckworth

Hugh Rockoff is a professor of economics at Rutgers University and has done extensive work in U.S. monetary history. He joins the show to discuss the criteria for an ideal monetary union and argues that the U.S. didn’t really become an optimal currency area until the 1930s. David and Hugh then discuss whether a present-day example, the Eurozone, fits these criteria. They also talk about interesting chapters in U.S. monetary history, including the Civil War, the Free Banking Era, and the bimetallism debate of the late 1800s. Transcript for the episode can be found . Check out...

Patrick Horan and David Beckworth on *The Fate of FAIT* and the Future of the Fed’s Monetary Framework

Macro Musings with David Beckworth

In this special episode of Macro Musings, David Beckworth and Patrick Horan join guest host Carola Binder to discuss their newest paper, *The Fate of FAIT: Salvaging the Fed’s Framework.* Patrick Horan is a research fellow in the Mercatus Center’s Monetary Policy Program and Carola Binder is an associate professor of economics at Haverford College as well as a visiting scholar at the Mercatus Center. In addition to their paper, Pat and David also talk about the basics of flexible average inflation targeting, how it compares to temporary price level targeting, the differences between the...

Ethan Ilzetzki on the International Implications of Fed Policy, Business Cycle Theory, and the UK Crisis

Macro Musings with David Beckworth

Ethan Ilzetzki is an associate professor of economics at the London School of Economics and a research fellow with the Center for Economic Policy Research. Ethan is also a returning guest to the show, and he rejoins David on Macro Musings to talk about the international implications of Fed Policy and the strong dollars as well as Ethan’s thoughts on business cycle theory in light of the recent inflation surge. David and Ethan also discuss Ethan’s takeaways from the UK crisis, how to evaluate and contextualize monetary policy shocks, the contemporary applications of the fiscal theory of the...

Megan Greene on the UK’s Recent Market Turmoil and What it Means for the Future of the Global Economy

Macro Musings with David Beckworth

Megan Greene is a senior fellow at the Watson Institute for International and Public Affairs at Brown University and is the global chief economist at Kroll. Megan is also a contributing editor and columnist for the Financial Times and is a returning guest to the podcast. She rejoins David on Macro Musings to talk about a recent article she has written titled, *UK Market Turmoil is a Harbinger of Global Events to Come.* David and Megan also discuss the basics of what caused the UK’s recent crisis, how persistent inflation continues to impact the global economy, the current outlook for...

Yesha Yadav on Treasury Market Turmoil and Potential Solutions for Reform

Macro Musings with David Beckworth

Yesha Yadav is a law professor and associate dean of Vanderbilt Law School. Yesha works on banking and financial regulation, securities regulation, the law of money and payment system, and is a returning guest to the podcast. She rejoins Macro Musings to talk about recent developments in the Treasury market and the prospects for reform. David and Yesha also discuss the future of CBDC in the US, the recent economic crisis in the UK, and a lot more. Transcript for the episode can be found . Yesha’s Vanderbilt Law profile: Yesha’s Google Scholar archive: ...

Peter Ganong on the Dynamism and Resiliency of the US Economy

Macro Musings with David Beckworth

Peter Ganong is an associate professor at the Harris School of Public Policy at the University of Chicago. He joins David on Macro Musings to talk about his work on the dynamism and resiliency of the US economy. Peter and David also discuss the income convergence story in the US, how to address increased housing costs, the economic effects of pandemic response measures, and a lot more. Transcript for the episode can be found Peter’s Twitter: Peter’s UChicago David’s Twitter: Follow us on Twitter: Click for the latest Macro Musings episodes...

Bill Nelson on How Bank Examiner Preferences are Obstructing Monetary Policy

Macro Musings with David Beckworth

Bill Nelson is the chief economist and executive vice president at the Bank Policy Institute. He previously worked as a deputy director of the Division of Monetary Affairs at the Federal Reserve Board, where his responsibilities included monetary policy analysis, discount window policy analysis, and financial institution supervision. Bill has also worked closely with the BIS working groups on the design of liquidity regulations and is a returning guest of the podcast. He rejoins David on Macro Musings to talk about his new note that is titled, *Bank Examiner Preferences are Obstructing...

BONUS: George Selgin on *False Dawn: The New Deal and the Promise of Recovery*

Macro Musings with David Beckworth

George Selgin is a senior fellow and director emeritus of the Center for Monetary and Financial Alternatives at the Cato Institute and is also a long-time returning guest of Macro Musings. In this bonus segment from the previous conversation, George rejoins the podcast to talk about his new book project on the Great Depression titled, False Dawn: The New Deal and the Promise of Recovery. Specifically, David and George discuss the broad contours of the Great Depression, including its causes as well as the pros and cons of the New Deal solutions that followed. Transcript for the episode...

George Selgin on Recent Trends and Developments in Macroeconomics

Macro Musings with David Beckworth

George Selgin is a senior fellow and director emeritus of the Center for Monetary and Financial Alternatives at the Cato Institute. George is also a frequent guest of the podcast, and he rejoins David on Macro Musings once again to discuss their top three articles from the past few weeks related to macroeconomics and monetary policy. Specifically, David and George talk about Jerome Powell’s recent criticism of nominal GDP targeting, Lael Brainard’s recent comments regarding FedNow and real-time payments, the debate surrounding the Fed’s campaign against inflation, and a lot more. ...

Bill English on the Effectiveness of QE and the Consequences of Fed Losses

Macro Musings with David Beckworth

Bill English is a professor at Yale University, a former senior Fed staffer, and a veteran of the Bank for International Settlements. Bill joins Macro Musings to talk about his time at the Federal Reserve, recent Fed developments, and a paper he co-authored titled, “What If the Federal Reserve Books Losses Because of Its Quantitative Easing?” David and Bill also discuss the Fed’s recent low-inflation mandate, the QE effectiveness debate, and why we should and shouldn’t be concerned about Fed balance sheet losses. Transcript for the episode can be found . Bill’s Yale ...

More Episodes

Anat Admati is a professor of finance and economics at Stanford University, and is well-known for her work on leveraging debt in our financial system and how it makes our economy more susceptible to shocks. She’s also a co-author of the popular book, *The Banker’s New Clothes: What Went Wrong with Banking and What to Do About It*. Anat joins Macro Musings again to talk about the COVID-19 crisis from the debt perspective, how the Fed and Congress have responded so far, and how their relief efforts should have been focused differently.

The transcript for the episode can be found here: https://www.mercatus.org/bridge/tags/macro-musings

Anat’s Twitter: @anatadmati

Anat’s website: https://admati.people.stanford.edu/

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