Podcasts Business Non-Profit Macro Musings with David Beckworth Scott Sumner on Alternative Approaches to Monetary Policy

Scott Sumner on Alternative Approaches to Monetary Policy

Published: Sept. 12, 2022, 4:30 a.m.

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\u2019s monetary policy mistakes in 2008 impacted the direction of Scott\u2019s 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.

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Transcript for the episode can be found here.

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Scott\u2019s Twitter: @ScottSumnerTMI

Scott\u2019s blog

Scott\u2019s Mercatus profile

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David\u2019s Twitter: @DavidBeckworth

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Related Links:

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\u201cNominal GDP futures targeting\u201d by Scott Sumner

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\u201cA Market-Driven Nominal GDP Targeting Regime\u201d by Scott Sumner

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\u201cUsing Futures Instrument Prices To Target Nominal Income\u201d by Scott Sumner

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\u201cThe Impact of Futures Price Targeting on the Precision and Credibility of Monetary Policy\u201d by Scott Sumner