Macro Musings with David Beckworth

Hanno Lustig on Dollar Dominance, Dollar Safety, and the Global Financial Cycle

Sep 27, 2021
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Episode notes
1
Introduction
00:00 • 2min
2
Is There a Synthetic Hegemonic Currency?
02:16 • 3min
3
Do You Have a Dollar Funding Advantage?
05:33 • 2min
4
The Second Factor, Dollar Debt Dominance
08:01 • 2min
5
The Global Dollar Cycle
10:00 • 2min
6
The Fed's Interventions and Dollar Funding Markets Have Reinforced the Global Dollar Cycle
12:23 • 3min
7
Exorbitant Privilege
15:07 • 3min
8
Dominant Reserve Currency and a Safe Asset Supplier?
17:48 • 3min
9
The Trade-Off Between Risk-Free Government Debt and Taxpayers
20:54 • 4min
10
Is There a Trade-Off?
25:07 • 2min
11
Is There a Debt Valuation Puzzle for US Government Bonds?
27:28 • 5min
12
Is There a Bubble in the Bond Market?
32:34 • 3min
13
Defining a Bubble
35:56 • 2min
14
Are the Convenience Yields Going Down?
37:34 • 2min
15
What Is the Link Between Safe Asset Demand and Low Inflation?
39:20 • 4min
16
Pre-Pandemic of Low Inflation Mystery
43:14 • 5min
17
The Saving Blood of the Rich
47:47 • 4min