105 – David Andolfatto on Inflation and the Phillips Curve
Macro Musings with David Beckworth
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Exploring Portfolio Rebalancing and Monetary Policy
The chapter delves into how individuals and firms adjust their portfolios during a recession, favoring liquid assets like money for safety. It discusses the impact of changing money demand on spending, the connection of money with various markets, and the relationship between aggregate demand and the demand for safety. The conversation also touches on inflation, unemployment, and the complexity of economic theories, advocating for nuanced monetary policies and a broader perspective on inflation drivers.
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