Macro Musings with David Beckworth cover image

Nathan Tankus on the Future of MMT and How to Avoid U.S. Debt Default

Macro Musings with David Beckworth

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The Impact of the Volcker Shock on the Economy

The Volcker shock was huge. It's not a reason to say that they weren't having a huge impact on the economy, that monetary policy wasn't very contractionary. And it still has an impact. JW Mason at Jau J has this great paper with his co-author about what he calls loose money high rates. But ultimately, I think most people are not interested in going back down the money supply path and conceptually question whether we went a wrong track.

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