Out-going and incoming coeditors of the Brookings Papers on Economic Activity discuss the importance of BPEA in shaping economic policy, evaluating changing viewpoints, avoiding 'end of history' thinking, the significance of the Inflation Reduction Act, and creating an informed dialogue between academics and policymakers.
Brookings Papers on Economic Activity brings together academic research and policy analysis on urgent economic challenges.
The importance of studying monetary policy in light of recent inflationary pressures and the need for research on international topics.
Deep dives
Transition of Co-Editor Role
In this final episode of the spring season, co-editor Jim Stock announces his departure from the Brookings Papers on Economic Activity. He expresses gratitude for the opportunity and excitement for John Stinson stepping in as his replacement. The conversation focuses on the mission of the Brookings Papers and how it brings together academic research and policy analysis on urgent economic challenges. The co-editors discuss their approach to different categories of policies and highlight the impact of timely papers on COVID-19 policies and the Federal Reserve's monetary policy framework.
Future Focus Areas
John Stinson shares his enthusiasm for taking on the role of co-editor and outlines important areas to focus on in the upcoming years. This includes perennial topics like labor market dynamics, along with emerging issues such as the future of work and concerns about radical technological change. Stinson also highlights the importance of studying monetary policy, particularly in light of recent inflationary pressures. He emphasizes the need to learn from the experiences of other countries and brings attention to the need for research on international topics.
Methodological Evolution and Policy Relevance
The co-editors discuss the evolving methods in the field of macroeconomics and the balance between advancing methodological techniques and maintaining policy relevance. They acknowledge the advancements in empirical methods and the need to use them to address important policy questions. They emphasize the importance of maintaining even-handed assessments of issues and the unique role of the Brookings Papers in providing empirically oriented research. They also recognize the challenges of integrating new theoretical models with policy-oriented research.
For over 50 years, the Brookings Papers on Economic Activity has published research on urgent public policy issues by some of the world’s leading economists. What has made it so successful, and how has it evolved over the years? On this special episode, the last of season 2, out-going BPEA coeditor and host of the Brookings Podcast on Economic Activity James Stock is joined by his coeditor of 8 years, Jan Eberly, and incoming coeditor Jón Steinsson for a discussion on the importance of BPEA in economic policy over the years, the evolution of economic methodologies and analysis, and the direction of BPEA in years to come.
The Brookings Podcast on Economic Activity is part of the Brookings Podcast Network. Subscribe and listen on Apple, Spotify, or wherever you listen to podcasts. Send feedback email to podcasts@brookings.edu.
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