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Scott Sumner on The Money Illusion Using level targeting and real market indicators as guideposts for monetary policy may be the best ways forward for a more stable economy.
Tijd : 50:50
Scott Sumner is David’s colleague and the Ralph G. Hawtrey Chair of Monetary Policy at the Mercatus Center. Scott is also a returning guest to the podcast and joins David on Macro Musings to discuss his new book, The Money Illusion: Market Monetarism, the Great Recession, and the Future of Monetary Policy. Specifically, David and Scott discuss common misconceptions about the 2008-09 Recession, why bubble narratives too often miss the mark when explaining rising asset prices, whether the Fed’s adoption of average inflation targeting signals that it is moving toward a level target, and much more.
Transcript for the episode can be found here: https://www.mercatus.org/bridge/tags/macro-musings
Scott’s Twitter: @ScottSumnerTMI
Scott’s blog: https://www.themoneyillusion.com/
Scott’s Mercatus profile: https://www.mercatus.org/scholars/scott-sumner
Related Links:
*The Money Illusion: Market Monetarism, the Great Recession, and the Future of Monetary Policy*
By Scott Sumner
https://www.mercatus.org/publications/monetary-policy/money-illusion-market-monetarism-great-recession-and-future-monetary
*Eight Centuries of Global Real Interest Rates, R-G, and the ‘Suprasecular’ Decline, 1311–2018* by Paul Schmelzing
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3485734
David’s blog: macromarketmusings.blogspot.com
David’s Twitter: @DavidBeckworth
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Releasedatum : 11-10-2021 06:30:00
