Macro Musings with David Beckworth

Mark Koyama, an associate professor of economics, discusses the historical origins of economic growth and the key drivers throughout history. Topics include geography, institutions, the Protestant Reformation's influence, Malthusian theory, factors influencing the Industrial Revolution, Rome's lack of industrialization, and future economic growth challenges.

Gauti Eggertsson, professor of economics at Brown University, discusses the post-pandemic inflation surge and its implications for monetary policy. Topics covered include the Fed's FAIT framework, the return of the non-linear Phillips curve, policy suggestions for the Fed, inflation expectations, and various monetary policy approaches.

Jonathon Hazell, an assistant professor of economics at the London School of Economics, joins David Beckworth on Macro Musings to discuss Phillips curves, wage rigidity, and measuring R-star. They delve into topics such as viewing recent inflation, measuring the natural rate, downward wage rigidity, and more.

Skanda Amarnath and Preston Mui from Employ America discuss U.S. disinflation debates, future Fed policy, and the upcoming framework review. They explore the impact of energy prices, trade-offs in the inflation debate, and the complexities of rate normalization. Critiques of the Federal Reserve's approach and communication are also discussed.

Claudio Borio, Head of the Monetary and Economic Department at BIS, discusses the challenge of large balance sheets at central banks. They explore the shift from the pre-2008 scarce reserve system to the abundant reserve system. They also discuss the political pressure on central bank balance sheets and the implications for fiscal policy.

Colby Smith, Steven Kelly, and Gerard DiPippo discuss the major surprises and underreported stories of 2023. They also talk about the challenges in predicting economic trends and the consequences of war on the defense industry. Additionally, they explore geopolitical risks, the cost of large central bank balance sheets, and the Fed's framework review.

Tyler Cowen, a professor of economics at George Mason University and co-author of the popular economics blog, Marginal Revolution, joins the podcast to discuss who should be considered the greatest economist of all time. They also assign awards to the best macroeconomic theories, explore recent deflationary trends, and discuss the Fed's framework.

Nicolas Cachanosky talks about dollarization in Argentina, including its potential and requirements. They discuss Argentina's hyperinflationary experience, the three necessary steps for dollarization, and the differences between dollarization and currency boards.

Charles Evans, former president and CEO of the Chicago Fed, discusses his work on US monetary policy. Topics include the creation of the Evans rule, the current path of R-Star, and the future of the Fed's framework. They also explore the importance of the explicit 2% inflation target and propose nominal GDP targeting as a solution for supply-side driven inflation.

Matteo Maggiori and Jesse Schreger, along with David Beckworth, discuss geoeconomics and its policy implications. They explore the basics and core concepts of geoeconomics, the key elements of a global hegemon, and real world examples. They also discuss China's influence on the entertainment industry, debt repayment, US financial sanctions, and the future of geoeconomics research and policy agenda.