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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.

Sep 5, 2016

Peter Ireland is the Murray and Monti Professor of Economics at Boston College, a research associate at the National Bureau of Economic Research, and a member of the Shadow Open Market Committee. He joins the show to discuss his experience as a student at the University of Chicago as well as the nuts and bolts of how the Federal Reserve sets out to achieve its short-, medium-, and long-term objectives. David and Peter also discuss the role of monetary aggregates in monetary policy. Economists largely don’t pay much attention to the traditional simple-sum measures of the money supply anymore, but Ireland argues that more complex measures of money, called Divisia indices, can teach us a lot about the stance of monetary policy. [To learn more about the upcoming conference, Monetary Rules for a Post-Crisis World, co-hosted by the Mercatus Center and the Cato Institute, and register, please click the link below. You can also watch the conference online by clicking the link.] David’s blog: Peter Ireland’s personal website: Peter Ireland’s Boston college profile: David’s Twitter: @davidbeckworth Peter Ireland’s Twitter: @PIrelandatBC Related links: The Shadow Open Market Committee A “Working” Solution to the Question of Nominal GDP Targeting by Peter Ireland and Michael Belongia