59 - Jay Shambaugh on the Macroeconomic Trilemma ("The Impossible Trinity")

59 - Jay Shambaugh on the Macroeconomic Trilemma ("The Impossible Trinity")

Jay Shambaugh is a professor of economics and international affairs at The George Washington University and a former member on the Council of Economic Advisers (CEA). Today, he joins the show to discuss his work on the "Macroeconomic Trilemma" (or "Impossible Trinity"): the problem that a country cannot maintain a fixed exchange rate, free movement of capital, and an independent monetary policy all at once. He also shares stories from his time at the CEA as well as thoughts on current monetary policy both for the U.S. and the Eurozone. David's blog: http://macromarketmusings.blogspot.com/ Jay Shambaugh's GW profile: https://www2.gwu.edu/~iiep/about/faculty/jshambaugh/ David's Twitter: @DavidBeckworth Jay Shambaugh's Twitter: @JayCShambaugh Related links: "The Euro's Three Crises" by Jay C. Shambaugh https://www.brookings.edu/bpea-articles/the-euros-three-crises/ "Financial Stability, the Trilemma, and International Reserves" by Maurice Obstfeld, Jay C. Shambaugh, & Alan M. Taylor http://www.nber.org/papers/w14217

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Jerry Dwyer on the History of Free Banking and the Future of Bitcoin

Jerry Dwyer on the History of Free Banking and the Future of Bitcoin

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Hester Peirce on the role of the SEC, Financial Surveillance, and Crypto

Hester Peirce on the role of the SEC, Financial Surveillance, and Crypto

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Robin Brooks on the Dollar, Fiscal Dominance, and Geoeconomics

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Aditi Sahasrabuddhe on the Role Central Banker Relationships Play in Economic Crises

Aditi Sahasrabuddhe on the Role Central Banker Relationships Play in Economic Crises

Aditi Sahasrabuddhe is a political scientist at Brown University and the author of the new book, Banker's Trust: How Social Relations Avert Global Financial Collapse. In Aditi's first appearance on th...

18 Elo 202559min

Will Luther and Josh Hendrickson on the Future of Bitcoin

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Rashad Ahmed on the Global Impact of US Stablecoin Regulation and Crypto Adoption

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Rashad Ahmed is a former Treasury and Office of the Comptroller of the Currency financial economist and is currently an economist at the upstart Andresen Institute for Finance and Economics. In Rashad...

4 Elo 202557min

Paul Kupiec on Problems with the Fed's Balance Sheet and Calls to End Interest on Reserves

Paul Kupiec on Problems with the Fed's Balance Sheet and Calls to End Interest on Reserves

Paul Kupiec is a senior fellow at the American Enterprise Institute. In Paul's first appearance on the show, he discusses life at a think tank, the insolvency of the Fed, theories on how to fix the Fe...

28 Heinä 202550min

George Hall on the Fiscal Consequences of the US War on COVID

George Hall on the Fiscal Consequences of the US War on COVID

Check out David's Substack: Macroeconomic Policy Nexus for a special 500th episode post! George Hall is a professor of economics at Brandeis University and formerly worked as an economist at the Chic...

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