300 episodes
Macro Musings with David Beckworth Mercatus Center at George Mason University
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4.8 • 259 Ratings
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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.
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Megan Greene on the Future of CBDC and How Central Banks Should Respond to Climate Change
Megan Greene is a senior fellow at the Harvard Kennedy School of Government and was formerly the global chief economist at Manulife John Hancock Asset Management. Megan is also a returning guest to the podcast and rejoins David to talk about the prospects of central bank digital currency as well as how to conduct climate change policy from a central banking angle.
Transcript for the episode can be found here: https://www.mercatus.org/bridge/tags/macro-musings
Megan’s Twitter: @economistmeg
Megan’s website: https://economistmeg.com/about/
Megan’s Financial Times archive: https://www.ft.com/megan-greene
Related Links:
*Central Banks Need to Go Slow on Digital Currencies* by Megan Greene
https://www.ft.com/content/21e3affe-8c57-4bac-b9c5-21b645e93d7c
*Adapting Central Bank Operations to a Hotter World: Reviewing Some Options* by the Network for Greening the Financial System
https://www.ngfs.net/sites/default/files/media/2021/06/17/ngfs_monetary_policy_operations_final.pdf
*Megan Greene and Eric Lonergan on Dual Interest Rates and the Prospects of Average Inflation Targeting*
https://www.mercatus.org/bridge/podcasts/10052020/megan-greene-and-eric-lonergan-dual-interest-rates-and-prospects-average
David’s blog: macromarketmusings.blogspot.com
David’s Twitter: @DavidBeckworth -
Joseph Wang on the Fed’s Impact on Money Markets
Joseph Wang is a former senior trader on the open market desk at the Federal Reserve Bank in New York and the author of the book Central Banking 101. He also blogs at fedguy.com and is active on Twitter. Joseph joins Macro Musings to discuss what has happened at the Fed from the operational side, and we consider its implications for money markets. Specifically, Joseph and David discuss recent events from the perspective of the Federal Reserve trading desk, Joseph’s conception of a two-tiered monetary system, continued dollar dominance in global money markets, whether the Fed’s overnight repo facility is truly a temporary facility or trending towards a permanent one, and much more.
Transcript for the episode can be found here: https://www.mercatus.org/bridge/tags/macro-musings
Joseph’s Twitter: @FedGuy12
Joseph’s website: http://fedguy.com/
Related Links:
*QE Zombifies Money Markets* by Joseph Wang
https://fedguy.com/qe-zombifies-money-markets/
*The Gravitational Pull of Zero* by Joseph Wang
https://fedguy.com/the-gravitational-pull-of-zero/
*RRP At The ZLB* by Joseph Wang
https://fedguy.com/rrp-at-the-zlb/
David’s blog: macromarketmusings.blogspot.com
David’s Twitter: @DavidBeckworth -
Philippa Sigl-Glöckner on the Debt Brake, German Fiscal Policy, and Full Capacity Utilization
Philippa Sigl-Glöckner is the director of the German think tank Dezernat Zukunft, or the Institute for Macrofinance, and was formerly a part of the German Federal Ministry of Finance. Philippa joins Macro Musings to talk about fiscal policy in Germany, as well as her new paper, *A New Fiscal Policy for Germany*. Specifically, David and Philippa discuss the historical context for German fiscal policy, the three big economic challenges for Germany, and how the country can achieve full capacity utilization in the future.
Transcript for the episode can be found here: https://www.mercatus.org/bridge/tags/macro-musings
Philippa’s Twitter: @PhilippaSigl
Philippa’s website: http://philippasigl.com/
Philippa’s Forbes profile: https://www.forbes.com/profile/philippa-sigl-glockner/?sh=383fb0233d30
Related Links:
*A New Fiscal Policy for Germany* by Philippa Sigl-Glöckner, Max Krahe, Pola Schneemelcher, Florian Schuster, Viola Hilbert, Henrika Meyer
https://dezernatzukunft.org/wp-content/uploads/2021/07/A-new-fiscal-policy-for-Germany.pdf
David’s blog: macromarketmusings.blogspot.com
David’s Twitter: @DavidBeckworth -
Jennifer Murtazashvili on Recent Developments in Afghanistan and Lessons for State Capacity Building
Jennifer Murtazashvili is an associate professor of political science at the University of Pittsburgh and directs the Center for Governance and Markets. Jennifer is also an expert on all things Afghanistan, given her experience working there and advising governments and international organizations on issues related to Afghanistan. She also has a new book titled, *Land, the State, and War: Property Institutions and Political Order in Afghanistan*, and joins the show to talk about it. Jennifer and David also discuss the recent developments as well as long-term developments in the country and lessons for state capacity building.
Transcript for the episode can be found here: https://www.mercatus.org/bridge/tags/macro-musings
Jennifer’s Twitter: @jmurtazashvili
Jennifer’s University of Pittsburgh profile: https://gspia.pitt.edu/faculty-and-staff/jennifer-brick-murtazashvili
Related Links:
*Land, the State, and War: Property Institutions and Political Order in Afghanistan* by Jennifer Murtazashvili and Ilia Murtazashvili
https://www.cambridge.org/core/books/land-the-state-and-war/A7B8C98CB24780A3CC0EA1CD265D888A
*Informal Federalism: Self-Governance and Power Sharing in Afghanistan* by Jennifer Murtazashvili
https://academic.oup.com/publius/article-abstract/44/2/324/1873292
*The Politics of Land Property Rights* by Meina Cai, Ilia Murtazashvili and Jennifer Murtazashvili
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3393160
*Bring the Afghans to America* by Benjamin Powell and Alex Nowrasteh
https://thehill.com/blogs/congress-blog/homeland-security/568964-bring-the-afghans-to-america?rl=1
*Inside Afghanistan’s Cryptocurrency Underground as the Country Plunges into Turmoil* by MacKenzie Sigalos
https://www.cnbc.com/2021/08/21/bitcoin-afghanistan-cryptocurrency-taliban-capital-flight.html
David’s blog: macromarketmusings.blogspot.com
David’s Twitter: @DavidBeckworth -
Bill Nelson on the Growth of the Federal Reserve
Bill Nelson is a chief economist and an executive vice president at the Bank Policy Institute. Bill previously was a deputy director of the Division of Monetary Affairs at the Federal Reserve Board where his responsibilities included monetary policy analysis, discount window policy analysis, and financial institution supervision. Bill also worked closely with the BIS working groups and the design of liquidity regulations. Bill rejoins David on Macro Musings to discuss his article titled, “I Don't Know Why She Swallowed a Fly,” which looks back at the significant growth of the Federal Reserve, both in its reach and in its size, since the Great Recession of 2007-09. Additionally, Bill and David discuss steps the Fed could take to return to a reasonably sized institution, conducting policy with a light imprint on financial markets.
Transcript for the episode can be found here: https://www.mercatus.org/bridge/tags/macro-musings
Bill’s SIFMA profile: https://www.sifma.org/people/bill-nelson/
Bill’s BPI archive: https://bpi.com/tag/bill-nelson/
Bill’s American Banker archive: https://www.americanbanker.com/author/william-nelson-ab3618
Related Links:
*I Don’t Know Why She Swallowed a Fly* by Bill Nelson
https://morningconsult.com/opinions/i-dont-know-why-she-swallowed-a-fly/
*Why Do We Need Both Liquidity Regulations and a Lender of Last Resort? A Perspective from Federal Reserve Lending during the 2007-09 U.S. Financial Crisis* by Bill Nelson, Mark Carlson, and Burcu Duygan-Bump
https://www.federalreserve.gov/econresdata/feds/2015/files/2015011pap.pdf
David’s blog: macromarketmusings.blogspot.com
David’s Twitter: @DavidBeckworth -
Arthur Turrell on Economic Data, Modeling, and the Future of Nuclear Energy
Arthur Turrell is the deputy director at the data science campus for the UK Office of National Statistics (ONS). Arthur is also a former researcher at the Bank of England and a nuclear fusion scientist. He joins Macro Musings to talk about his work at the Bank of England, the future of economic data, and his new book on nuclear fusion titled, *The Star Builders: Nuclear Fusion and the Race to Power the Planet*.
Transcript for the episode can be found here: https://www.mercatus.org/bridge/tags/macro-musings
Arthur’s Twitter: @arthurturrell
Arthur’s website: http://aeturrell.com/
Arthur’s Bank of England profile: https://www.bankofengland.co.uk/research/researchers/arthur-turrell
Related Links:
*The Star Builders: Nuclear Fusion and the Race to Power the Planet* by Arthur Turrell
https://www.simonandschuster.com/books/The-Star-Builders/Arthur-Turrell/9781982130664
*Coding for Economists* by Arthur Turrell
https://aeturrell.github.io/coding-for-economists/intro.html
*Why Software Is Eating The World* by Marc Andreessen
https://www.wsj.com/articles/SB10001424053111903480904576512250915629460
*Solving Heterogeneous General Equilibrium Economic Models with Deep Reinforcement Learning* by Edward Hill, Marco Bardoscia, and Arthur Turrell
https://arxiv.org/pdf/2103.16977.pdf
Princeton’s *Net-Zero America* Project: https://netzeroamerica.princeton.edu/?explorer=year&state=national&table=2020&limit=200
David’s blog: macromarketmusings.blogspot.com
David’s Twitter: @DavidBeckworth
Customer Reviews
Superb!
This show covers a wide range of economic thought from a diversity of perspective. A wonderful resource for anyone learning or teaching economics and a great way to stay close to the currents of political economy.
I love this podcast
I’ve been listening since the earliest days, in 2016, and it has been incredibly helpful in nurturing my interest in economics as I finished undergrad and got into the field. The guests have spanned a wide variety of fields in economics, and David asks pointed and interesting questions of all of them. Though he often plays the role of detached interviewer, he’s a capable research economist in his own right and that knowledge comes through.
I have on many occasions referred back to an old episode for a reference. I find I learn as much from these discussions as I would in the same amount of time spent reading academic papers, sometimes more because of the clear explanations offered. The podcast format allows me to learn while driving, biking, doing chores, etc.
This is a public good, and I’m proud to have donated to the Mercatus Center to help provision it. (Also I wanted the NGDP target mug, but one can have multiple motivations for donating.)
Let’s keep political views out
This lady obviously has a political agenda, and it just happens to be to the far left, the views should be balanced, not everyone opposed to destruction of their neighborhoods is a wealthy land owner! Utterly ridiculous!