Carola Binder on the History of Inflation, the Fed Framework Review, and the Promise of Nominal GDP Targeting

Carola Binder on the History of Inflation, the Fed Framework Review, and the Promise of Nominal GDP Targeting

Carola Binder is an associate professor of civic leadership and economics at the University of Texas at Austin, and she is the author of a new book titled, *Shock Values: Prices and Inflation in American Democracy.* Carola is also a returning guest to the podcast, and she rejoins David on Macro Musings to talk about this book and some recent work she has done on the Fed's framework review. David and Carola specifically discuss the history of inflation in the US, the advantages of adopting a nominal GDP targeting regime, what to expect from the Fed's upcoming framework review, and more.

Transcript for this week's episode.

Carola's Twitter: @cconces

Carola's website

David Beckworth's Twitter: @DavidBeckworth

Follow us on Twitter: @Macro_Musings

Check out our new AI chatbot: the Macro Musebot!

Join the new Macro Musings Discord server!

Join the Macro Musings mailing list!

Check out our Macro Musings merch!

Related Links:

*Shock Values: Prices and Inflation in American Democracy* by Carola Binder

*Why Do We Dislike Inflation?* by Stefanie Stantcheva

Timestamps:

(00:00:00) – Intro

(00:03:42) – *Nominal GDP Targeting: Lessons from Recent History*

(00:12:18) – NGDP Level Targeting: Looking Through Supply Shocks and Policy Communication

(00:17:16) – *Shock Values: Prices and Inflation in American Democracy*

(00:21:44) – The History of Inflation and Deflation in the US

(00:30:30) – Key Lessons from the Revolutionary War and Civil War Periods

(00:35:37) – The Impact of Price Controls During World War II

(00:40:42) – The Emergence of Price Stability: From the Great Inflation Period to the Present

(00:46:24) – The Direction of the Fed's Framework Review

(00:49:22) – Outro

Episoder(542)

Loretta Mester on How to Improve the Fed's Operating Framework

Loretta Mester on How to Improve the Fed's Operating Framework

Loretta Mester was president and CEO of the Federal Reserve Bank of Cleveland from 2014 through June of 2024, and she is a 39-year veteran of the Federal Reserve System. Loretta is also currently an a...

11 Nov 202456min

Jon Hartley on the Shadow Open Market Committee and Macroeconomic Policy

Jon Hartley on the Shadow Open Market Committee and Macroeconomic Policy

Jon Hartley is a macroeconomist and affiliated scholar at the Mercatus Center, and he is also the host of a Hoover Institution podcast titled, *Capitalism and Freedom in the 21st Century.* Jon joins D...

4 Nov 20241h

Tara Sinclair on Real-time Economic Analysis and the Fed's Upcoming Framework Review

Tara Sinclair on Real-time Economic Analysis and the Fed's Upcoming Framework Review

Tara Sinclair is a professor of economics and international affairs at George Washington University, where she also directs the George Washington Center for Economic Research. From 2022 to 2024, Tara ...

28 Okt 202456min

Joseph Gagnon on the Trinity of COVID-era Inflation and the Upcoming Fed Framework Review

Joseph Gagnon on the Trinity of COVID-era Inflation and the Upcoming Fed Framework Review

Joseph Gagnon is a senior fellow at the Peterson Institute for International Economics, a former senior Fed staffer, and a returning guest to the podcast. Joe rejoins David on Macro Musings to talk ab...

21 Okt 202458min

Emilio Ocampo on Dollarization and the State of the Argentine Economy

Emilio Ocampo on Dollarization and the State of the Argentine Economy

Emilio Ocampo is a professor of finance and economic history at UCEMA. He has written widely on the Argentine economy and has advised President Javier Milei on economic policy. Emilio joins David on M...

14 Okt 202459min

Jonathon Hazell on the Costs and Causes of Inflation and the Phillips Curve Debate

Jonathon Hazell on the Costs and Causes of Inflation and the Phillips Curve Debate

Jonathon Hazell is an assistant professor of economics at the London School of Economics and is a returning guest to the podcast. He rejoins David on Macro Musings to talk about the costs of inflation...

7 Okt 202455min

Thomas Drechsel on the Effects of Political Pressure and Identifying Monetary Policy Shocks

Thomas Drechsel on the Effects of Political Pressure and Identifying Monetary Policy Shocks

Thomas Drechsel is an assistant professor of economics at the University of Maryland. He joins David on Macro Musings to talk about the political pressure on the Fed and the new ways to measure moneta...

30 Sep 20241h

Matthew Pines on the Geopolitical and National Security Implications of Cryptocurrency Adoption

Matthew Pines on the Geopolitical and National Security Implications of Cryptocurrency Adoption

Matthew Pines is the director of intelligence for SentinelOne Strategic Advisory Group and is a veteran of the national security world. Matthew is also the author of several papers on cryptocurrencies...

23 Sep 202458min

Populært innen Business og økonomi

lydartikler-fra-aftenposten
stopp-verden
dine-penger-pengeradet
e24-podden
rss-penger-polser-og-politikk
rss-borsmorgen-okonominyhetene
livet-pa-veien-med-jan-erik-larssen
finansredaksjonen
pengepodden-2
pengesnakk
utbytte
rss-sunn-okonomi
morgenkaffen-med-finansavisen
stormkast-med-valebrokk-stordalen
liberal-halvtime
tid-er-penger-en-podcast-med-peter-warren
lederpodden
rss-politisk-preik
okonomiamatorene
rss-markedspuls-2