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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 12, 2022

Scott Sumner is the Ralph G. Hawtrey Chair of Monetary Policy at the Mercatus Center. Scott joins David on Macro Musings to look back on his contributions to monetary policy research with the Mercatus Center and elsewhere, as well as discuss his upcoming book, Alternative Approaches to Monetary Policy. In particular, Scott and David discuss how the Fed’s monetary policy mistakes in 2008 impacted the direction of Scott’s research, the theory and prospects for a nominal GDP futures contract, the future of monetary policy in the Eurozone and whether the ECB has gotten more hawkish, how changing macroeconomic conditions across history help explain the changing popularity of particular policy models, and much more.


Transcript for the episode can be found here.


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Related Links:


“Nominal GDP futures targeting” by Scott Sumner


“A Market-Driven Nominal GDP Targeting Regime” by Scott Sumner


“Using Futures Instrument Prices To Target Nominal Income” by Scott Sumner


“The Impact of Futures Price Targeting on the Precision and Credibility of Monetary Policy” by Scott Sumner