New Books in Public Policy
Carola Binder, "Shock Values: Prices and Inflation in American Democracy" (U Chicago Press, 2024)
May 27, 2024
Carola Binder, author of 'Shock Values: Prices and Inflation in American Democracy', discusses the historical impact of price instability on the United States. Topics include the evolution of inflation blame, price controls in American history, and the push towards transparency in central banking.
43:50
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Quick takeaways
- Understanding inflation expectations is crucial for shaping economic policies and stimulating the economy.
- Historical episodes like the Shays Rebellion shed light on the differential impact of inflation on debtors and creditors.
Deep dives
Understanding the History and Impact of Inflation Expectations
In this episode, Dr. Binder discusses her interest in inflation expectations, originating from the time of the Great Recession and the slow recovery in the 2010s. She delves into studying how people form inflation expectations and the role of monetary policy in shaping them. Dr. Binder highlights the importance of increasing inflation expectations to stimulate the economy, focusing on the impact on real interest rates and economic stimulus.
