75 - Larry Summers on Secular Stagnation, Fiscal Policy, and Fed Policy

Published: Sept. 18, 2017, 9:45 a.m.

b'Lawrence Summers is the Charles W. Eliot University Professor and President Emeritus of Harvard University. Previously, he served as U.S. Treasury Secretary under President Bill Clinton and Director of the National Economic Council under President Obama. In today\\u2019s episode, he joins the show to discuss his work as both an academic and a policymaker. He also shares his thoughts on monetary and fiscal policy since the recent financial crisis and Great Recession. Finally, he explains why he has recently become more open to nominal GDP targeting. You can read the transcript to the full interview here: https://www.dropbox.com/s/sya7syeqgjp1gxq/Summers_transcript.doc?dl=0 David\\u2019s blog: macromarketmusings.blogspot.com/ Macro Musings podcast site: macromusings.com David\\u2019s Twitter: @DavidBeckworth Lawrence Summers\\u2019 website: http://larrysummers.com/ Larry Summers\\u2019 Washington post archive: https://www.washingtonpost.com/people/lawrence-summers/?utm_term=.2cf6f67e2ce9 Larry Summers\\u2019 Twitter: @LHSummers Related links: \\u201cInflation and Activity \\u2013 Two Explorations and Their Monetary Policy Implications\\u201d by Olivier Blanchard, Eugenio Cerutti, and Lawrence Summers https://www.imf.org/external/pubs/ft/wp/2015/wp15230.pdf \\u201cThe Permanent Effects of Fiscal Consolidation\\u201d by Antonio Fatas and Larry Summers http://www.nber.org/papers/w22374 \\u201c5 Reasons Why the Fed Might Be Making a Mistake\\u201d by Larry Summers https://www.washingtonpost.com/news/wonk/wp/2017/06/14/larry-summers-5-reasons-why-the-fed-may-be-making-a-mistake/?utm_term=.3e48ce5bd142 *** [Also, be sure to subscribe to Mercatus\\u2019 \\u201cConversations with Tyler\\u201d podcast, hosted by Tyler Cowen. Tyler also interviewed Larry Summers and discussed a wide range of topics, including trade policy, immigration, asset-pricing, monopolies, and even table tennis. You can listen to that conversation here: https://soundcloud.com/conversationswithtyler/28-larry-summers-on-macroeconomics-mentorship-and-avoiding-complacency You can also find previous episodes of \\u201cConversations with Tyler\\u201d at https://medium.com/conversations-with-tyler]'