David Beckworth on the Facts, Fears, and Functionality of NGDP Level Targeting

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By David Beckworth and Mercatus Center. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

In this special episode of Macro Musings, the roles are reversed, and David Beckworth joins guest host Cardiff Garcia, host of NPR’s “The Indicator from Planet Money”, to talk about his newest paper, *Facts, Fears, and Functionality of NGDP Level Targeting: A Guide to a Popular Framework for Monetary Policy*. David and Cardiff conduct a deep dive into the plumbing of this potential monetary regime, as they discuss some of the most the important questions surrounding it. Some of these questions include: what is nominal GDP level targeting, and how does it differ from the Fed's current inflation targeting framework? How does NGDP targeting deal with economic downturns and in a more effective manner than inflation targeting? How can this framework be properly communicated and explained to the public? David answers these questions and addresses further concerns and criticisms of NGDP targeting in this unique installment of Macro Musings.

Transcript for the episode: https://www.mercatus.org/bridge/podcasts/10182019/david-beckworth-facts-fears-and-functionality-ngdp-level-targeting

David’s Twitter: @DavidBeckworth

David’s blog: http://macromarketmusings.blogspot.com/

David’s Mercatus profile: https://www.mercatus.org/scholars/david-beckworth

Cardiff’s Twitter: @CardiffGarcia

Cardiff’s NPR profile: https://www.npr.org/people/567164716/cardiff-garcia

Related Links:

*Facts, Fears, and Functionality of Nominal GDP Level Targeting: A Guide to a Popular Framework for Monetary Policy* by David Beckworth

https://www.mercatus.org/publications/monetary-policy/facts-fears-and-functionality-ngdp-level-targeting

*The Financial Stability Case for a Nominal GDP Target* by David Beckworth

https://www.cato.org/cato-journal/springsummer-2019/financial-stability-case-nominal-gdp-target

189 episodes