Macro Musings with David Beckworth
Scott Sumner on the Princeton School of Macroeconomics and Overcoming Inflationary Fears
Jan 11, 2021
Scott Sumner, Ralph G. Hawtrey Chair of Monetary Policy at the Mercatus Center, discusses the Princeton School of Macroeconomics and strategies for overcoming inflationary fears with David Beckworth. They explore the contributions of Princeton economists, central bank credibility, and unconventional monetary policy approaches. Sumner also touches on fixing the yen to the dollar and challenges to traditional views on interest rates.
59:03
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Quick takeaways
- The Princeton School of Macroeconomics emphasizes long-term monetary policy changes for economic stability.
- Targeting the forecast in monetary policy involves proactive measures to achieve desired economic outcomes.
Deep dives
The Princeton School of Macroeconomics and the Monetary Policy Approach
The Princeton School of Macroeconomics, as discussed by Scott Sumner, focuses on the significance of monetary policy and its impact on economic theory. Sumner highlights the work of prominent economists like Paul Krugman, Lars Svensson, and Ben Bernanke, showcasing their contributions to understanding and addressing macroeconomic challenges.
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