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David Beckworth on the Facts, Fears, and Functionality of NGDP Level Targeting
David Beckworth on the Facts, Fears, and Functionality of NGDP Level Targeting
ratings:
Length:
60 minutes
Released:
Oct 16, 2019
Format:
Podcast episode
Description
In this special episode of Macro Musings, the roles are reversed, and David Beckworth joins guest host Cardiff Garcia, host of NPR’s “The Indicator from Planet Money”, to talk about his newest paper, *Facts, Fears, and Functionality of NGDP Level Targeting: A Guide to a Popular Framework for Monetary Policy*. David and Cardiff conduct a deep dive into the plumbing of this potential monetary regime, as they discuss some of the most the important questions surrounding it. Some of these questions include: what is nominal GDP level targeting, and how does it differ from the Fed's current inflation targeting framework? How does NGDP targeting deal with economic downturns and in a more effective manner than inflation targeting? How can this framework be properly communicated and explained to the public? David answers these questions and addresses further concerns and criticisms of NGDP targeting in this unique installment of Macro Musings. Transcript for the episode: https://www.mercatus.org/bridge/podcasts/10182019/david-beckworth-facts-fears-and-functionality-ngdp-level-targeting David’s Twitter: @DavidBeckworth David’s blog: http://macromarketmusings.blogspot.com/ David’s Mercatus profile: https://www.mercatus.org/scholars/david-beckworth Cardiff’s Twitter: @CardiffGarcia Cardiff’s NPR profile: https://www.npr.org/people/567164716/cardiff-garcia Related Links: *Facts, Fears, and Functionality of Nominal GDP Level Targeting: A Guide to a Popular Framework for Monetary Policy* by David Beckworth https://www.mercatus.org/publications/monetary-policy/facts-fears-and-functionality-ngdp-level-targeting *The Financial Stability Case for a Nominal GDP Target* by David Beckworth https://www.cato.org/cato-journal/springsummer-2019/financial-stability-case-nominal-gdp-target
Released:
Oct 16, 2019
Format:
Podcast episode
Titles in the series (100)
01 - Scott Sumner on *The Midas Paradox*, the Fed, and More: Welcome to Macro Musings, a new podcast exploring… by Macro Musings with David Beckworth