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

Avsnitt(541)

Steven Kamin on the Global Influence of Fed Policy and the U.S. Dollar

Steven Kamin on the Global Influence of Fed Policy and the U.S. Dollar

Steven Kamin is a senior fellow at the American Enterprise Institute and previously was the director of the Division of International Finance at the Federal Reserve Board. Steve joins David on Macro M...

26 Juni 202356min

Chris Hughes on the Legacy of Arthur Burns and its Implications for Macro Policy Today

Chris Hughes on the Legacy of Arthur Burns and its Implications for Macro Policy Today

Chris Hughes is a senior fellow at the Institute on Race, Power, and Political Economy at The New School, and he is also the co-founder of the Economic Security Project and a senior advisor at the Roo...

19 Juni 202354min

Peter Stella on the Quasi-Fiscal Implications of Central Bank Crisis Intervention

Peter Stella on the Quasi-Fiscal Implications of Central Bank Crisis Intervention

Peter Stella is the former head of the IMF's Central Banking Division and has researched and written extensively on safe assets, collateral, and central bank operations. He now hosts the website, Cent...

12 Juni 202350min

Christina Skinner on Central Bank Digital Currency as New Public Money

Christina Skinner on Central Bank Digital Currency as New Public Money

Christina Skinner is a legal scholar at the Wharton Business School at the University of Pennsylvania and was formerly legal counsel to the Bank of England. Christina is also a returning guest to the ...

5 Juni 20231h

Gianluca Benigno on the Basics and Policy Functionality of R** and the Dollar's Imperial Circle

Gianluca Benigno on the Basics and Policy Functionality of R** and the Dollar's Imperial Circle

Gianluca Benigno is a professor of economics at the University of Lausanne and was formerly a senior staffer and economist at the Federal Reserve Bank of New York, an economist at the Bank of England,...

29 Maj 202349min

Dan McDowell on *Bucking the Buck: US Financial Sanctions and the International Backlash Against the Dollar*

Dan McDowell on *Bucking the Buck: US Financial Sanctions and the International Backlash Against the Dollar*

Dan McDowell is an associate professor of political science at Syracuse University, and he is the author of a new book titled, *Bucking the Buck: US Financial Sanctions and the International Backlash ...

22 Maj 202355min

Jeanna Smialek on *Limitless: The Federal Reserve Takes on a New Age of Crisis*

Jeanna Smialek on *Limitless: The Federal Reserve Takes on a New Age of Crisis*

Jeanna Smialek is a reporter who covers the Federal Reserve and the economy for the New York Times, and is the author of a new book titled, *Limitless: The Federal Reserve Takes On a New Age of Crisis...

15 Maj 202351min

Nathan Tankus on the Future of MMT and How to Avoid U.S. Debt Default

Nathan Tankus on the Future of MMT and How to Avoid U.S. Debt Default

Nathan Tankus is a popular writer for a newsletter titled, *Notes on the Crises* and is the research director of the Modern Money Network. Nathan is also a returning guest to Macro Musings, and he rej...

8 Maj 20231h 8min

Populärt inom Business & ekonomi

framgangspodden
varvet
badfluence
rss-jossan-nina
rss-borsens-finest
rss-svart-marknad
svd-tech-brief
avanzapodden
uppgang-och-fall
fill-or-kill
rss-dagen-med-di
borsmorgon
lastbilspodden
rss-inga-dumma-fragor-om-pengar
rss-kort-lang-analyspodden-fran-di
kapitalet-en-podd-om-ekonomi
bathina-en-podcast
tabberaset
rss-den-nya-ekonomin
affarsvarlden