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Hosted by David Beckworth of the Mercatus Center, Macro Musings is a podcast which pulls back the curtain on the important macroeconomic issues of the past, present, and future.

Mar 26, 2018

Ed Nelson is a senior advisor at the Federal Reserve Board of Governors and formerly worked at the St. Louis Federal Reserve Bank and the Bank of England. Today, he joins the show to discuss his research on the role of money in business cycles. David and Ed also discuss nominal income targeting, Milton’s Friedman’s influence on monetary economics, and Australia’s successful monetary policy performance. [To sign-up for Mercatus’ NGDP prediction market, go to Just answer a few simple questions, and you’ll receive an email invitation to start forecasting!] David’s blog: David’s Twitter: @DavidBeckworth Ed’s Federal Reserve profile: Related Links: *Tobin’s Imperfect Asset Substitution in Optimizing General Equilibrium* by Javier Andrés, J. David López-Salido, and Edward Nelson *Nominal GDP Targeting and the Taylor Rule on an Even Playing Field* by David Beckworth and Josh Hendrickson