65 - Stephen Miller on Financial Crises, Capital Requirements, and the US Banking System

65 - Stephen Miller on Financial Crises, Capital Requirements, and the US Banking System

Stephen Matteo Miller is a Senior Research Fellow at the Mercatus Center at George Mason University. He joins the show to discuss his work on the history of financial crises as well as the evolution of the U.S. banking system since the late 1800s. Steph stresses the importance of capital requirements (how much capital or equity a bank holds relative to its liabilities) in combating financial crises. Furthermore, he argues that higher and simpler capital requirements, rather than more regulation, are the keys to a more market-disciplined banking system. David's blog: http://macromarketmusings.blogspot.com/ Stephen Miller's Mercatus profile: https://www.mercatus.org/stephen-matteo-miller David's Twitter: @DavidBeckworth Stephen Miller's Twitter: @SMatteoMiller Related links: "Ending Too-Big-to-Fail May Require More Than the Minneapolis Fed Too-Big-to-Fail Plan" by Stephen Miller https://www.mercatus.org/publications/too-big-to-fail-minneapolis-fed "A Primer on the Evolution and Complexity of Bank Regulatory Capital Standards" by Stephen Miller and James Barth https://www.mercatus.org/publications/primer-bank-regulatory-capital-standards *"To Establish a More Effective Supervision of Banking": How the Birth of the Fed Altered Bank Supervision* by Eugene White http://www.nber.org/papers/w16825.pdf

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Andy Levin on the Importance of an Independent Inspector General at the Federal Reserve - BONUS

Andy Levin on the Importance of an Independent Inspector General at the Federal Reserve - BONUS

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Matthew Pines on the Future of Money, AI, and Monetary Policy

Matthew Pines on the Future of Money, AI, and Monetary Policy

Sign up for the Bitcoin Policy Summit with our special Macro Musings Discount Code! Matthew Pines is the executive director of the Bitcoin Policy institute. Matthew returns to the show to discuss the...

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Peter Conti-Brown and Sean Vanatta on the History of Bank Supervision in America

Peter Conti-Brown and Sean Vanatta on the History of Bank Supervision in America

Peter Conti-Brown is a historian and legal scholar of the Federal Reserve System, and an associate professor at the Wharton School of Business at the University of Pennsylvania. Sean Vanatta is a seni...

9 Juni 20251h 3min

George Selgin on Contextualizing the Great Depression and its Implications on Monetary Policy Today

George Selgin on Contextualizing the Great Depression and its Implications on Monetary Policy Today

George Selgin is a senior fellow and director emeritus at the Center for Monetary and Financial Alternatives at the Cato Institute, as well as the author of the new book titled False Dawn: The New Dea...

2 Juni 20251h 12min

Daniel Bunn on Fiscal Issues Currently Facing the US Government

Daniel Bunn on Fiscal Issues Currently Facing the US Government

Daniel Bunn is the president and CEO of the Tax Foundation. In Daniel's first appearance on the show, he discusses the history of tax models, the threat that tariffs make to the US economy, where we c...

26 Maj 202549min

Luca Fornaro on Hysteresis, Endogenous Growth, and Aggregate Demand Policies

Luca Fornaro on Hysteresis, Endogenous Growth, and Aggregate Demand Policies

Luca Fornaro is a senior researcher at CREI and professor at both UPF and the Barcelona School of Economics. In Luca's first appearance on the show, he discusses his expansive work on, hysteresis, sta...

19 Maj 20251h

Adam Ozimek on Reforming the High-Skilled Immigration Process

Adam Ozimek on Reforming the High-Skilled Immigration Process

Adam Ozimek is the Chief Economist at the Economic Innovation Group. Adam returns to the show to discuss the importance of reforming the high-skilled immigration process, the main bottlenecks with our...

12 Maj 202559min

Skanda Amarnath on the Future of the Federal Reserve and its Framework

Skanda Amarnath on the Future of the Federal Reserve and its Framework

Skanda Amarnath is the executive director of Employ America. Skanda returns to the show to discuss the standing of Humphrey's Executor, the prospects for the Fed's Framework Review, the case for NGDP ...

5 Maj 202559min

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