247 episodes

Hosted by David Beckworth of the Mercatus Center, Macro Musings is a podcast which pulls back the curtain on the important macroeconomic issues of the past, present, and future.

Macro Musings with David Beckworth Mercatus Center

    • Non-Profit
    • 4.8 • 207 Ratings

Hosted by David Beckworth of the Mercatus Center, Macro Musings is a podcast which pulls back the curtain on the important macroeconomic issues of the past, present, and future.

    Carolyn Sissoko on the Collateral Supply Effect and Other Concerns in the Money Market

    Carolyn Sissoko on the Collateral Supply Effect and Other Concerns in the Money Market

    Carolyn Sissoko is an associate professor of economics at the University of the West of England, and she has written widely on shadow banking, money markets, and the plumbing of the financial system. Carolyn joins Macro Musings to talk about the evolution of money markets over the past few decades, and its implication for both monetary and fiscal policy. Specifically, David and Carolyn discuss the collateral supply effect, the consequences of moving from LIBOR to SOFR, and solutions to other money market concerns.
     
    Transcript for the episode can be found here: https://www.mercatus.org/bridge/tags/macro-musings
     
    Carolyn’s Twitter: @csissoko
    Carolyn’s UWE Bristol profile: https://people.uwe.ac.uk/Person/CarolynSissoko
     
    Related Links:
     
    *The Collateral Supply Effect on Central Bank Policy* by Carolyn Sissoko
    https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3545546
     
    David’s Twitter: @DavidBeckworth
    David’s blog: http://macromarketmusings.blogspot.com/

    • 1 hr 1 min
    Robin Harding on Abenomics and the ‘Japanification’ of Monetary Policy

    Robin Harding on Abenomics and the ‘Japanification’ of Monetary Policy

    Robin Harding is the Tokyo Bureau chief for the Financial Times. Until 2015, he was based in Washington D.C., covering the U.S. Federal Reserve, the Treasury, and the IMF for the Financial Times. Robin Macro Musings to talk about the Japanese economy, Abenomics, and the evolution of monetary policy in advanced economies over the past decade. Specifically, Robin and David discuss what the Bank of Japan’s point inflation target has in common with the Fed’s average inflation target, how the Bank of Japan found itself on the frontlines of innovation in monetary policy, and what the legacy of Abenomics portends for the future of monetary policy.
     
    Transcript for the episode can be found here: https://www.mercatus.org/bridge/tags/macro-musings
     
    Robin’s Twitter: @RobinBHarding
    Robin’s Financial Times profile: https://www.ft.com/robin-harding
     
    Related Links:
     
    *Six Abenomics Lessons for a World Struggling with ‘Japanification’* by Robin Harding
    https://www.ft.com/content/9f4b1656-95a2-41e0-9c86-70f5b063796d
     
    *Abe’s Tenure Marked by Trade Successes and Thwarted Ambitions* by Robin Harding
    https://www.ft.com/content/125378c8-073c-41b6-9aef-42b985c24784
     
    *Leave Public Debt Worries for Another Day* by Robin Harding
    https://www.ft.com/content/691cb9f4-b53d-4429-bba4-03ca623c0077
     
    *Methods of Policy Accommodation at the Interest-Rate Lower Bound* by Michael Woodford
    https://www.kansascityfed.org/publicat/sympos/2012/mw.pdf?sm=jh083112-4
     
    David’s Twitter: @DavidBeckworth
    David’s blog: http://macromarketmusings.blogspot.com/

    • 53 min
    George Selgin on Average Inflation Targeting and *The Menace of Fiscal QE*

    George Selgin on Average Inflation Targeting and *The Menace of Fiscal QE*

    George Selgin is the director of the Cato Institute’s Center for Monetary and Financial Alternatives and is a returning guest to Macro Musings. He joins again to talk about his views on the Fed’s new framework and his recent book titled, *The Menace of Fiscal QE.* Specifically, David and George discuss the Fed’s quantitative easing evolution, and how the move to a floor system helped pave the way for fiscal QE to become a more popular policy in the present.
     
    Transcript for the episode can be found here: https://www.mercatus.org/bridge/tags/macro-musings
     
    George’s Twitter: @GeorgeSelgin
    George’s Cato Institute profile: https://www.cato.org/people/george-selgin
     
    Related Links:
     
    *The Menace of Fiscal QE* by George Selgin
    https://www.cato.org/books/menace-fiscal-qe
     
    *Mission Creep at the Fed* by Greg Ip
    https://www.wsj.com/articles/mission-creep-at-the-fed-11598461446
     
    David’s Twitter: @DavidBeckworth
    David’s blog: http://macromarketmusings.blogspot.com/

    • 1 hr 5 min
    BONUS: Employ America’s Webcast Panel on the Federal Reserve’s Updated Framework and Its Implications for Monetary Policy

    BONUS: Employ America’s Webcast Panel on the Federal Reserve’s Updated Framework and Its Implications for Monetary Policy

    Macro Musings is back with another bonus episode, as Sam Bell and Skanda Amarnath (Employ America) are joined by Julia Coronado (Macro Policy Perspectives) and David Beckworth (Macro Musings) to talk through the announcement of the Fed’s framework transition towards average inflation targeting. Specifically, this panel of guests discuss the implications of moving to an average inflation targeting regime, whether the shift may cause credibility problems for the central bank, how to continue to improve the Fed’s toolkit, and more.
     
    Special thanks to the Employ America team for allowing us to use their webcast audio for this special Macro Musings bonus content.
     
    Transcript for the episode can be found here: https://www.mercatus.org/bridge/tags/macro-musings
     
    Employ America’s Twitter: @employamerica
    Employ America’s website: https://employamerica.org/
    Sam Bell’s Twitter: @sam_a_bell
    Skanda Amarnath’s Twitter: @IrvingSwisher
     
    Julia’s Twitter: @jc_econ
    Julia’s Macro Policy Perspectives profile: https://www.macropolicyperspectives.com/team
     
    Related Links:
     
    *A New Way to Manage Inflation* by David Beckworth
    https://www.mercatus.org/bridge/commentary/new-way-manage-inflation
     
    *By Doubling Down On Inflation Targeting, the Fed Is At Risk of Forgetting Lessons from 2008 & 2011* by Skanda Amarnath
    https://medium.com/@skanda_97974/by-doubling-down-on-inflation-targeting-the-fed-is-at-risk-of-forgetting-lessons-from-2008-2011-f877f78acba2
     
    *Securing Macroeconomic and Monetary Stability with a Federal Reserve–Backed Digital Currency* by Julia Coronado and Simon Potter
    https://www.piie.com/system/files/documents/pb20-4.pdf
     
    David’s Twitter: @DavidBeckworth
    David’s blog: http://macromarketmusings.blogspot.com/

    • 58 min
    Scott Lincicome on the China Shock, Trade Policy, and US Labor Markets

    Scott Lincicome on the China Shock, Trade Policy, and US Labor Markets

    Scott Lincicome is a senior fellow in Economic Studies at Cato Institute where he writes on international and domestic economic issues, including international trade, industrial policy and manufacturing and global supply chains. Scott joins David on Macro Musings to discuss what we've learned so far about the so-called China shock and where we are today in the trade war. Specifically, David and Scott discuss the historical rise of Chinese exports, its impact on US labor markets, how certain policies make it harder for US workers to adjust, and whether the Trump administration marks a genuine regime shift in international trade.
     
    Transcript for the episode can be found here: https://www.mercatus.org/bridge/tags/macro-musings
     
    Scott’s Twitter: @scottlincicome
    Scott’s Cato Institute profile: https://www.cato.org/people/scott-lincicome
     
    Related Links:
     
    *Testing the ‘China Shock’: Was Normalizing Trade with China a Mistake?”*by Scott Lincicome
    https://www.cato.org/publications/policy-analysis/testing-china-shock-was-normalizing-trade-china-mistake#:~:text=However%2C%20champions%20of%20the%20emerging,with%20China%20for%20particular%20scorn.&text=It%20finds%20that%20PNTR%20and,that%20PNTR%20critics%20now%20repeat.
     
    *Clashing over Commerce* by Douglas Irwin
    https://press.uchicago.edu/ucp/books/book/chicago/C/bo24475328.html
     
    *Audaciously Hopeful: How President Obama Can Help Restore the Pro‐​Trade Consensus* by Dan Ikenson and Scott Lincicome
    https://www.cato.org/publications/trade-policy-analysis/audaciously-hopeful-how-president-obama-can-help-restore-protrade-consensus
     
    *The 'China Shock', Exports and U.S. Employment: A Global Input-Output Analysis* by Robert Feenstra and Akira Sasahara
    https://www.nber.org/papers/w24022
     
    *Executive Incentives, Import Restrictions, and Competition* by Brian Blank
    https://www.mercatus.org/publications/trade-and-immigration/executive-incentives-import-restrictions-and-competition
     
    David’s Twitter: @DavidBeckworth
    David’s blog: http://macromarketmusings.blogspot.com/

    • 1 hr 1 min
    Jim Tankersley on the State of the Middle Class and How to Boost Economic Growth

    Jim Tankersley on the State of the Middle Class and How to Boost Economic Growth

    Jim Tankersley is a tax and economics reporter for the New York Times and has written a new book on the middle class titled, *The Riches of This Land: The Untold, True Story of the American Middle Class.* Jim joins Macro Musings to talk about this book, and the state of the middle class in the US. David and Jim also discuss the history and golden era of the middle class as well as the steps policymakers can take to ensure we return to a path of robust economic growth.
     
    Transcript for the episode can be found here: https://www.mercatus.org/bridge/tags/macro-musings
     
    Jim’s Twitter: @jimtankersley
    Jim’s New York Times archive: https://www.nytimes.com/by/jim-tankersley
     
    Related Links:
     
    *The Riches of This Land: The Untold, True Story of the American Middle Class* by Jim Tankersley
    https://www.publicaffairsbooks.com/titles/jim-tankersley/the-riches-of-this-land/9781541767836/
     
    *The Allocation of Talent and U.S. Economic Growth* by Chang-Tai Hsieh, Erik Hurst, Charles Jones, and Peter Klenow
    https://www.nber.org/papers/w18693
     
    *Populism in Place: The Economic Geography of the Globalization Backlash* by J. Lawrence Broz, Jeffry Freiden, and Stephen Weymouth
    https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3501263
     
    *Testing the ‘China Shock’: Was Normalizing Trade with China a Mistake?* by Scott Lincicome
    https://www.cato.org/publications/policy-analysis/testing-china-shock-was-normalizing-trade-china-mistake
     
    *The China Shock: Learning from Labor-Market Adjustment to Large Changes in Trade* by David Autor, David Dorn, and Gordon Hanson
    https://economics.mit.edu/files/12751
     
    *The Complacent Class: The Self-Defeating Quest for the American Dream* by Tyler Cowen
    https://us.macmillan.com/books/9781250108708
     
    David’s Twitter: @DavidBeckworth
    David’s blog: http://macromarketmusings.blogspot.com/

    • 1 hr 4 min

Customer Reviews

4.8 out of 5
207 Ratings

207 Ratings

87654321098 ,

Another excellent Mercatus podcast!

Just found this today! I love Tyler Cowen’s podcast, so tried out another Mercatus product and am impressed! It is less wide-ranging than Tyler’s and more Econ-nerdy but it is pretty accessible and I (15 year old high school kid) found it pretty understandable (though I recommend knowing basic Macro terms and graphs).

Noriaki2013 ,

Latest episode

The latest episode with Tom Hoenig was wrongly released on Conversation with Tyler. which helped me find the show!

XmasBaby777 ,

Exactly what we should all be listening to…

The BIG picture of helpful and thoughtful insights into what’s going on now, what’s ahead, and how to think about the economic implications of our world changed by COVID.

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