Macro Musings with David Beckworth16 Okt 2019

David Beckworth on the Facts, Fears, and Functionality of NGDP Level Targeting

In this special episode of Macro Musings, the roles are reversed, and David Beckworth joins guest host Cardiff Garcia, host of NPR's "The Indicator from Planet Money", to talk about his newest paper, *Facts, Fears, and Functionality of NGDP Level Targeting: A Guide to a Popular Framework for Monetary Policy*. David and Cardiff conduct a deep dive into the plumbing of this potential monetary regime, as they discuss some of the most the important questions surrounding it. Some of these questions include: what is nominal GDP level targeting, and how does it differ from the Fed's current inflation targeting framework? How does NGDP targeting deal with economic downturns and in a more effective manner than inflation targeting? How can this framework be properly communicated and explained to the public? David answers these questions and addresses further concerns and criticisms of NGDP targeting in this unique installment of Macro Musings.

Transcript for the episode: https://www.mercatus.org/bridge/podcasts/10182019/david-beckworth-facts-fears-and-functionality-ngdp-level-targeting

David's Twitter: @DavidBeckworth

David's blog: http://macromarketmusings.blogspot.com/

David's Mercatus profile: https://www.mercatus.org/scholars/david-beckworth

Cardiff's Twitter: @CardiffGarcia

Cardiff's NPR profile: https://www.npr.org/people/567164716/cardiff-garcia

Episoder(560)

David Wessel on the Fed's Current Inflection Point

David Wessel is a senior fellow in economic studies at Brookings and is the director of the Hutchins Center on Fiscal and Monetary Policy. In David's first appearance on the show, he discusses stories...

27 Jul 55min

Sam Lyman on the Digital Payments Race Between the US and China

Sam Lyman is the head of research at the Bitcoin Policy Institute and formerly was a senior advisor and speechwriter for Treasury Secretary Bessent. In Sam's first appearance on the show, he discusses...

20 Jul 58min

Stephan Luck on What History can Teach Us about Financial Stability

Stephan Luck is a Financial Research Advisor at the Federal Reserve Bank of New York. In Stephan's first appearance on the show, he discusses how the 2008 Great Financial Crisis shaped his career, how...

13 Jul 57min

Barry Eichengreen on the History of Global Currencies

Barry Eichengreen is well known author, economist, and economic historian from the University of California, Berkeley. In Barry's first appearance on the show he discusses a career in untangling the w...

6 Jul 57min

Yesha Yadav, Chris Odinet, and Andrea Tosato on the Moneyness of Stablecoins

Yesha Yadav is a professor of law, the Milton R. Underwood Chair, the Associate Dean & Robert Belton Director of Culture & Community, and the Co-Faculty Director, Master of Laws (LL.M) Program at the ...

29 Jun 1h 11min

Jeffrey Lacker on What a New Fed Treasury Accord Might Look Like

Jeffrey Lacker is the former president of the Richmond Federal Reserve Bank and is a senior affiliated scholar at the Mercatus Center. Jeff returns to the show to discuss the history of the Fed Treasu...

22 Jun 56min

Nik Bhatia on Bitcoin and the Case for Using Stablecoins for Statecraft

Nik Bhatia is an author of two economics books, a visiting fellow at the Bitcoin Policy Institute and the founder of The Bitcoin Layer. In Nik's first appearance on the podcast, he discusses his niche...

15 Jun 59min

Bryan Cutsinger, Peter Ireland, and Will Luther on Lessons Learned from the Fed Framework Review

Bryan Cutsinger is an assistant professor of economics at the College of Business at Florida Atlantic University. Peter Ireland is a professor of Economics at Boston College. Will Luther is an associa...

8 Jun 1h 3min