loader from loading.io

Matteo Maggiori on the Global Capital Allocation Project, Exorbitant Privilege, and Dollar Runs

Macro Musings with David Beckworth

Release Date: 04/12/2021

Larry White on Stablecoins, Money Market Funds, and the History of Free Banking show art Larry White on Stablecoins, Money Market Funds, and the History of Free Banking

Macro Musings with David Beckworth

Larry White is a professor of economics at George Mason University and is a returning guest to the show. He rejoins Macro Musings to talk about stablecoins, the history of free banking, and money market funds reform. Specifically, David and Larry also discuss the critiques levied against stablecoins, their impact on the banking system, and why stablecoins could be considered the new version of money market mutual funds.   Transcript for the episode can be found here:   Larry’s Twitter: @lawrencewhite1 Larry’s GMU profile: Larry’s Alt-M profile:   Related Links:  ...

info_outline
Jerusalem Demsas on Problems in the US Housing Market and How to Fix Them show art Jerusalem Demsas on Problems in the US Housing Market and How to Fix Them

Macro Musings with David Beckworth

Jerusalem Demsas is a policy reporter for Vox and joins David on Macro Musings to discuss the state of housing in America and its implications for policy. Specifically, Jerusalem and David discuss the current state of the housing market, whether there is a housing bubble, how the housing shortage creates avenues for discrimination, the dynamics of racism in the US housing market, the impact of zoning laws, and much more.   Transcript for the episode can be found here:   Jerusalem’s Twitter: @JerusalemDemsas Jerusalem’s Vox archive:   Related Links:   *Housing...

info_outline
Scott Sumner on What Milton Friedman Would Think of Monetary Policy Today show art Scott Sumner on What Milton Friedman Would Think of Monetary Policy Today

Macro Musings with David Beckworth

Scott Sumner is the Ralph G. Hawtrey Chair of Monetary Policy at the Mercatus Center. Scott joins David on Macro Musings to discuss Milton Friedman's views and what he might say about some of the recent developments in monetary policy. Specifically, Scott and David talk about nominal interest rates as indicators of the stance of monetary policy, fiscal austerity as means of reducing excessive aggregate demand, Friedman’s critique of the Phillips curve and wage and price controls, what Friedman might have said about the recent inflation numbers, and much more.   Transcript for the...

info_outline
Skanda Amarnath on Maximum Employment, Inflation, and the Fed’s New Framework show art Skanda Amarnath on Maximum Employment, Inflation, and the Fed’s New Framework

Macro Musings with David Beckworth

Skanda Amarnath is the executive director of Employ America and a former hedge fund economist. He rejoins Macro Musings to talk about the fate of the Phillips Curve, the inflation outlook, the Fed’s new framework, and his vision for a better monetary policy future. David and Skanda also discuss the Fed’s flawed assessment of maximum employment, how to modify the central bank’s Summary of Economic Projections, and the significance of capacity constraints vs labor utilization.   Transcript for the episode can be found here:   Skanda’s Twitter: @IrvingSwisher Skanda’s Employ...

info_outline
Agustin Carstens on Central Banking in Emerging Markets, the Distributional Footprint of Monetary Policy, and Central Bank Digital Currency show art Agustin Carstens on Central Banking in Emerging Markets, the Distributional Footprint of Monetary Policy, and Central Bank Digital Currency

Macro Musings with David Beckworth

Agustin Carstens leads the Bank for International Settlements or the BIS in his role as general manager and previously served as the governor of the Bank of Mexico. He also served as the deputy managing director of the International Monetary Fund. Agustin joins David on Macro Musings to discuss the new BIS 2021 annual report. Specifically, David and Agustin discuss the macroeconomic developments of the past year, the distributional footprint of monetary policy, the evolving role of central banking, and the outlook for central bank digital currency (CBDC).   Transcript for the episode can...

info_outline
Jason Furman on Overheating, Inflation, and Fiscal Policy in an Era of Low Interest Rates show art Jason Furman on Overheating, Inflation, and Fiscal Policy in an Era of Low Interest Rates

Macro Musings with David Beckworth

Jason Furman is a former chair of the Council of Economic Advisers and is currently a senior fellow at the Peterson Institute for International Economics. Jason is also a professor at Harvard University and he rejoins Macro Musings to talk about overheating, the inflation outlook, and the right way to think about fiscal policy in an era of low interest rates.   Transcript for the episode can be found here:   Jason’s Twitter: @jasonfurman Jason’s Harvard profile: Jason’s PIIE profile:   Related Links:   *A Reconsideration of Fiscal Policy in the Era of Low Interest...

info_outline
Steffen Murau on the Eurozone, International Monetary Architecture, and the Future of the Dollar Zone show art Steffen Murau on the Eurozone, International Monetary Architecture, and the Future of the Dollar Zone

Macro Musings with David Beckworth

Steffen Murau is a political economist at the Global Development Policy Center at Boston University and specializes in international money and finance. He joins Macro Musings to talk about the Eurozone, its role within international monetary architecture, and the future of the dollar zone. They also discuss balance sheet hierarchies, the roles of European banks compared to their American counterparts, and the fiscal ecosystem present within the Eurozone.   Transcript for the episode can be found here:   Steffen’s Twitter: @steffenmurau Steffen’s website: Steffen’s GDPC...

info_outline
Daniel Smith and Alexander Salter on *Money and the Rule of Law: Generality and Predictability in Monetary Institutions* show art Daniel Smith and Alexander Salter on *Money and the Rule of Law: Generality and Predictability in Monetary Institutions*

Macro Musings with David Beckworth

Dan Smith is an associate professor of economics at Middle Tennessee State University and directs the Political Economy Research Institute at MTSU. Alex Salter is an associate professor of economics at Texas Tech University. Dan and Alex join David on a special live episode of Macro Musings to discuss their new book, Money and the Rule of Law: Generality and Predictability in Monetary Institutions. Specifically, they discuss knowledge and incentive problems in setting monetary policy, what is meant by “rule of law,” how to make monetary policy accountable, centralized versus decentralized...

info_outline
David Andolfatto on a Standing Repo Facility, the Future of CBDC, and Plumbing Issues in Monetary Policy show art David Andolfatto on a Standing Repo Facility, the Future of CBDC, and Plumbing Issues in Monetary Policy

Macro Musings with David Beckworth

David Andolfatto is a vice president for the St. Louis Federal Reserve Bank and has published widely in the field of monetary economics. David also blogs at MacroMania and is a returning guest to the podcast. He rejoins Macro Musings to talk about his thoughts on macro theory, plumbing issues, central bank digital currency, and more.   Transcript for the episode can be found here:   David’s Twitter: @dandolfa David’s St. Louis Fed profile:   Related Links:   *Some Thoughts on Central Bank Digital Currency* by David Andolfatto   *Minutes of the Federal Open...

info_outline
Mark Carney on *Value(s): Building a Better World for All* show art Mark Carney on *Value(s): Building a Better World for All*

Macro Musings with David Beckworth

Mark Carney served as the governor of the Bank of Canada from 2008 until 2013, and as the governor of the Bank of England from 2013 to 2020. Mark also was the chairman of the Financial Stability Board from 2011 to 2018. Mark is currently the Vice Chairman and Head of Impact Investing at Brookfield Asset Management, as well as a UN Special Envoy for Climate Action and Finance. Mark joins David on Macro Musings to discuss his new book *Value(s): Building a Better World for All*, as well as his career in central banking. Specifically, they discuss Mark’s experience at the Bank of Canada during...

info_outline
 
More Episodes

Matteo Maggiori is an associate professor of economics at Stanford University and joins David on Macro Musings to talk about global capital flows, reserve currencies, and the international monetary system. Specifically, David and Matteo also discuss the details of the Global Capital Allocation Project, the US and its status as banker to the world, the possibility we could see a major run on the dollar in the near future, and more.

 

Support Macro Musings and get a free mug:

https://donate.mercatus.org/mug/?utm_source=shownotes&utm_medium=hyperlink&utm_campaign=mug

 

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

 

Matteo’s Twitter: @m_maggiori

Matteo’s website: https://www.matteomaggiori.com/

Matteo’s Stanford profile: https://www.gsb.stanford.edu/faculty-research/faculty/matteo-maggiori

 

Related Links:

 

The Global Capital Allocation Project: https://www.globalcapitalallocation.com/

 

*The Rise of the Dollar and Fall of the Euro as International Currencies* by Matteo Maggiori, Brent Neiman, and Jesse Schreger

https://scholar.harvard.edu/files/maggiori/files/mns_pandp.pdf

 

*A Model of the International Monetary System* by Emmanuel Farhi and Matteo Maggiori

https://scholar.harvard.edu/files/farhi/files/ims.pdf

 

David’s blog: macromarketmusings.blogspot.com

David’s Twitter: @DavidBeckworth