Eric Leeper on Volcker, Friedman, and the Fiscal Theory of the Price Level

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Welcome back! Happy New Year! Glad to be back! Come one, come all!

Eric Leeper is the Paul Goodloe McIntire Professor in Economics at the University of Virginia. He also is a visiting scholar at the Mercatus Center at GMU. Today, we talk about inflation. He explains to us how inflation theory has evolved and how we forgot about the relationship between the fiscal and monetary sides of the economy.

Want to explore more?

• John Cochrane on Monetary versus Fiscal Policy, A Great Antidote podcast.
• Leonidas Zelmanovitz, The Boundaries of Fiscal and Monetary Policy, at Econlib.
• Allen Meltzer on Inflation, an EconTalk podcast.
• Thomas Hoening on Inflation and the Federal Reserve, a Great Antidote podcast.
• Maryann Keating, Adam Smith and the Public Debt, at AdamSmithWorks.

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