Podcasts about liquidity trap

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Sie ist eine der bekanntesten Inflationsforscherinnen der Welt: Stephanie Schmitt-Grohé, Professorin für Makroökonomie an der renommierten Columbia University in New York. In ihrem neusten Forschungspapier untersucht sie, ob die Teuerung noch lange hoch bleiben wird oder ob der Spuk schon bald vorbei ist. | Ein Gespräch über die Zinsuntergrenze («The Perils of the Taylor Rule»), ein geldpolitische Experiment («The Neo Fisher Effect and Exiting a Liquidity Trap») und den Vorteil von langen Zeitreihen in der empirischen Makro-Forschung («What Do Long Data Tell Us About The Inflation Hike Post Covid-19?»). | Stichworte: Inflation, Teuerung, Kaufkraft, Zinsuntergrenze, Liquiditätsfalle, Fisher-Effekt, ELB, effective lower bound, ZLB, zero lower bound, Taylor rule, Neo Fisherian, Stephanie Schmitt-Grohé.

Kia ora,Welcome to Wednesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news we are in the shadow period until the US House votes on the debt deal. The chatter accentuates the risks of failure, so markets are holding their breath. But they also assume it will get passed.Meanwhile, the data being released is all quite bland, and will be until the May non-farm payrolls report is available. American consumer sentiment as monitored in the Conference Board survey held in May when a small dip was anticipated. This is consistent with the good personal income data we had recently, and a declining inflation rate. But overall levels are still low; the Expectations Index has now remained below 80, a level associated with a recession within the next year, for every month since February 2022, with the exception of a brief uptick in December 2022. But the endless signals of recession just don't seem to materialise, probably because of the strong labour markets.We get the May US non-farm payrolls report on Saturday NZT and it is expected to show a modest +190,000 gain - although don't be surprised if it beats that estimate yet again.The Dallas Fed survey of factories in their oil patch is quite subdued in May which is probably no surprise given the languishing oil price. And with today's oil price retreat it will probably be even lower in June.According to the US Federal Housing Finance Agency, American house prices rose in the year to March at about their long-run average of ~4%, ending the pandemic turmoil period when for a few years they were up almost +20%. Separately, the Case-Shiller index on house prices in major urban areas fell in the year to March and below their long-run average. Analysts tend to watch the Case-Shiller Index more.In China, they have been getting a lot of late-season rain and that is causing havoc with crop harvesting. They have lost millions of tonnes of wheat right before harvest, with global price implications. The unseasonal rains have infected crops with blight and caused pre-harvest sprouting. That sets China up for some massive imports, disrupting global prices - and their own plans at a time when local food security is a high-level concern.And staying in China, a strong echo from their brutal pandemic lockdown is starting to play out in their economy. Memories of that has reinforced the urge by households to save, and at such a level that it seems to be inhibiting their economy from recovering. They have a liquidity trap which is frustrating efforts by Beijing to expand domestic demand and increase consumption's share of national GDP. And this is putting severe pressures on local governments.These two big trends in the Chinese economy has seen their yuan devalue further.In Japan, their jobless rate fell back to the 2.6% level it was a few months ago, which was a better result than expected. An expanding economy is having a positive effect on employment and wages now.EU sentiment is still in the doldrums and fell in May to a six month low. There was little change in consumer sentiment, but manufacturer sentiment eased lower.In Australia, they are about to hand down a NZ$485 mln financial penalty on the Crown casino business for breaches of its AML-CFT laws. As such it will be one of the largest money-laundering penalties imposed on a casina anywhere in the world. But no-one went to jail. Despite its size, Crown casinos won't be crippled financially - it just seems like a cost of doing business in the world of gambling.The UST 10yr yield will start today at 3.70% and down -7 bps as Wall Street trades again after their holiday weekend. The price of gold will start today at US$1959/oz and up +US$3 from yesterday.And oil prices are a lot lower today from yesterday at just over US$69/bbl in the US and that is down -US$4/bbl. The international Brent price is now just on US$73.50/bbl.The Kiwi dollar starts today marginally softer at 60.4 USc. Against the Aussie we are marginally firmer 92.8 AUc. Against the euro we are softer at 56.3 euro cents. That means the TWI-5 is down -10 bps at 69.3.The bitcoin price is almost unchanged today at US$27,739. Volatility over the past 24 hours has been low at just on +/- 0.9%.You can find links to the articles mentioned today in our show notes.You can get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston. And we will do this again tomorrow.

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At the heart of Keynesian business cycle theory is the so-called liquidity trap. Contra Keynes, however, economies don't falter because a sudden increase in the demand for money. Original Article: "Forget the Liquidity Trap—Loose Monetary Policies Cause Recessions" This Audio Mises Wire is generously sponsored by Christopher Condon.

At the heart of Keynesian business cycle theory is the so-called liquidity trap. Contra Keynes, however, economies don't falter because a sudden increase in the demand for money. Original Article: "Forget the Liquidity Trap—Loose Monetary Policies Cause Recessions" This Audio Mises Wire is generously sponsored by Christopher Condon.

Kia ora,Welcome to Monday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the International edition from Interest.co.nz.Today we lead with news China seems to be moving into a classic liquidity trap situation.Chinese banks extended ¥679 bln in new yuan loans in July, the lowest reading in three months and well below ¥1.08 tln a year earlier. The level also disappointed investors which were expecting an expansion similar to last year. But the ongoing property crisis weighed on consumers mood and government bond issuance has slowed. Low interest rates, a fast-rising M2 money supply, and banks willing to lend but clients unwilling to borrow, and savers saving harder, is a classic liquidity trap.In Malaysia, they reported an economic expansion in the June quarter that was more than expected, charging up at an almost +9% annualised rate and impressive even if it is off a lowish base.India has reported positively on their June industrial production levels, a fourth consecutive month of outsized gains.EU industrial production data was released for June and that also brought a positive surprise. It grew +3.2% in the whole EU from a year ago, very much better than the +1% expected. UK industrial production rose +2.4% on the same basis.In the UK, their economy contracted in the second quarter from the prior one as households facing soaring inflation cut back on spending, and programs to contain the pandemic were wound down, signaling tough times for an economy that is expected to enter a lengthy recession.In Russia, their economy also contracted but more steeply in the June quarter as the economic consequences of its war in Ukraine took hold. Their economy shrank -4% from April through June compared with a year ago. It is the first quarterly gross domestic product report to fully capture the change in the economy since the invasion of Ukraine in February, when Western sanctions shut Russia off from much of the global financial system, and many countries severed trading relationships with Moscow. It was also a sharp reversal from the first quarter, when the economy rose +3.5%.In the US, the latest sentiment survey, this one for August and by the closely-watched University of Michigan series, indicates rising optimism. But to be fair, it is only off its deep low for current conditions. However, the year-ahead economic outlook rose substantially and that is probably significant - and may indicate consumers are turned off by the silly 'steal' political shenanigans.The July USDA WASDE report paints a much more relaxed picture for the international grain situation. Despite the European war, they now think most regions will have production increases, especially for wheat. Corn and other coarse grains might become a bit tighter they say, but the rice trade will have plenty available even if slightly lower than last year. They also see slightly higher dairy prices, and higher beef prices, but few supply issues.In Australia, new home sales plunged -13% in July from June, swinging from an almost +2% gain in June. The sudden slump is being blamed on the recent increases in the cash rate, with builders reporting fewer enquires and visits to display sites.The UST 10yr yield starts today at 2.84% and ery little different from week-ago levels. The price of gold will open today at US$1804/oz which is up +US$2/oz from this time Saturday, and up +US$28/oz in a week, up +1.6%. It is also the first time above US$1800 in seven weeks.And oil prices start today unchanged at just under US$91.50/bbl in the US, while the international Brent price is now just under US$97.50/bbl. A week ago these prices were US$88.50 and US$94.50/bbl respectively, so a +3% weekly rise.The Kiwi dollar will open today at 64.5 USc which is more than +2c higher than this time last week and its highest since early June. Against the Australian dollar we are holding higher at 90.6 AUc. Against the euro we up at 62.9 euro cents. That all means our TWI-5 starts today at 72.7, our highest in more than three months. It is a +2.4% appreciation in a week.The bitcoin price is up +0.7% from this time Saturday at US$24,248. Volatility over the past 24 hours has been modest at just under +/-1.7%.You can find links to the articles mentioned today in our show notes.And get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston and we'll do this again tomorrow.

The markets across the board are down including Bitcoin. Sean and Marcus discuss a possible liquidity trap at play amongst an array of fun topics to help put you at ease during this downturn.   0:00 Intro  2:33 What is a Liquidity Trap?  16:15 Nayib Bukele Reaction  18:55 Michael Saylor working his day job  25:35 […] The post Bitcoin Down 50% What's Going On? Bitcoiner’s Guide Episode 12 appeared first on The Meme Factory™.

The markets across the board are down including Bitcoin. Sean and Marcus discuss a possible liquidity trap at play amongst an array of fun topics to help put you at ease during this downturn. 0:00 Intro 2:33 What is a Liquidity Trap? 16:15 Nayib Bukele Reaction 18:55 Michael Saylor working his day job 25:35 Luna Foundation getting liquidated 32:33 Price talk

There's good news & bad news in the latest Jobs Report, which will force the Fed to make a move. ADP vs BLS--Who's right?? Retirement reality as retirees return to work. The Fed is the biggest, most-visible risk to markets. The Fed's Liquidity Trap, and a history of fiscal missteps; publicity money can't buy; why 2022 will be a year of disappointment; businesses will use automation to fight inflationary effects; what can we do to bring more jobs to America? Can't with workers' unrealistic expectations. Socialism is a great way to be like everybody else in the world. Look more more volatility later this year as inflation subsides. You can make gains any time, but it's more difficult to make up for losses. SEG-1: Good News & Bad Behind Jobs Report SEG-2: The Biggest Risk to Markets: The Fed SEG-3: Why 2022 Will Be a Year of Disappointment SEG-4: Are We in a Bear Market or Bull? Hosted by RIA Advisors Chief Investment Strategist Lance Roberts, CIO Watch today's show on our YouTube channel: https://www.youtube.com/watch?v=e9aykSPZxF4&list=PLVT8LcWPeAugpcGzM8hHyEP11lE87RYPe&index=1&t=2584s -------- Our Latest "Three Minutes on Markets & Money: Markets Are At a Standstill--Watch & Wait" https://www.youtube.com/watch?v=ZhgNWmjtAxk&list=PLVT8LcWPeAujOhIFDH3jRhuLDpscQaq16&index=1 -------- Our previous show, "The Child Tax Credit 1040 Sticker Shock" is here: https://www.youtube.com/watch?v=_XbFEWJWU0I&list=PLVT8LcWPeAugpcGzM8hHyEP11lE87RYPe&index=1&t=2568s -------- Articles mentioned in this podcast: https://www.youtube.com/watch?v=5OS4FHBz_Ik&list=PLVT8LcWPeAuh0I07NdQcssCvh6_yDa9bz&index=1&t=2s -------- Register for our next Lunch & Learn https://us06web.zoom.us/webinar/register/1516432564864/WN_27HPBMz9TkOJNtykTPxxnA ------- Get more info & commentary: https://realinvestmentadvice.com/newsletter/ -------- SUBSCRIBE to The Real Investment Show here: http://www.youtube.com/c/TheRealInvestmentShow -------- Visit our Site: www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN -------- Subscribe to RIA Pro: https://riapro.net/home -------- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #BearMarket #BullMarket #FederalReserve #MarketRisk #MarketRally #Markets #Money #investing

There's good news & bad news in the latest Jobs Report, which will force the Fed to make a move. ADP vs BLS--Who's right?? Retirement reality as retirees return to work. The Fed is the biggest, most-visible risk to markets. The Fed's Liquidity Trap, and a history of fiscal missteps; publicity money can't buy; why 2022 will be a year of disappointment; businesses will use automation to fight inflationary effects; what can we do to bring more jobs to America? Can't with workers' unrealistic expectations. Socialism is a great way to be like everybody else in the world. Look more more volatility later this year as inflation subsides. You can make gains any time, but it's more difficult to make up for losses. SEG-1: Good News & Bad Behind Jobs Report SEG-2: The Biggest Risk to Markets: The Fed SEG-3: Why 2022 Will Be a Year of Disappointment SEG-4: Are We in a Bear Market or Bull? Hosted by RIA Advisors Chief Investment Strategist Lance Roberts, CIO Watch today's show on our YouTube channel: https://www.youtube.com/watch?v=8qTTteoqraI&list=PLVT8LcWPeAugpcGzM8hHyEP11lE87RYPe&index=1&t=2600s -------- Our Latest "Three Minutes on Markets & Money: Markets Are At a Standstill--Watch & Wait" https://www.youtube.com/watch?v=ZhgNWmjtAxk&list=PLVT8LcWPeAujOhIFDH3jRhuLDpscQaq16&index=1 -------- Our previous show, "The Child Tax Credit 1040 Sticker Shock" is here: https://www.youtube.com/watch?v=_XbFEWJWU0I&list=PLVT8LcWPeAugpcGzM8hHyEP11lE87RYPe&index=1&t=2568s -------- Articles mentioned in this podcast: https://www.youtube.com/watch?v=5OS4FHBz_Ik&list=PLVT8LcWPeAuh0I07NdQcssCvh6_yDa9bz&index=1&t=2s -------- Register for our next Lunch & Learn https://us06web.zoom.us/webinar/register/1516432564864/WN_27HPBMz9TkOJNtykTPxxnA ------- Get more info & commentary: https://realinvestmentadvice.com/newsletter/ -------- SUBSCRIBE to The Real Investment Show here: http://www.youtube.com/c/TheRealInvestmentShow -------- Visit our Site: www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN -------- Subscribe to RIA Pro: https://riapro.net/home -------- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #BearMarket #BullMarket #FederalReserve #MarketRisk #MarketRally #Markets #Money #investing

Paul Krugman is a Nobel Laureate in economics, a columnist at The New York Times, and a Distinguished Professor of Economics at the Graduate Center of the City University of New York. He rejoins David on Macro Musings to discuss the great inflation surge of 2021 and its implications for policy. Specifically, David and Paul discuss the state of public opinion surrounding inflation, whether the level of aggregate demand or its composition is the more important driver, what the state of the economy would be if the Fed had more aggressively countered inflation, whether the Fed squeeze is the appropriate response, and much more.   Transcript for the episode can be found here: https://www.mercatus.org/bridge/tags/macro-musings   Paul's Twitter: @paulkrugman Paul's NYT profile: https://www.nytimes.com/column/paul-krugman   Related Links:   *The Year of Inflation Infamy* by Paul Krugman https://www.nytimes.com/2021/12/16/opinion/inflation-economy-2021.html   *It's Baaack: Japan's Slump and the Return of the Liquidity Trap* by Paul Krugman https://www.brookings.edu/wp-content/uploads/1998/06/1998b_bpea_krugman_dominquez_rogoff.pdf   *The Princeton School and the Zero Lower Bound* by Scott Sumner https://www.mercatus.org/publications/monetary-policy/princeton-school-and-zero-lower-bound   David's Twitter: @DavidBeckworth David's blog: http://macromarketmusings.blogspot.com/

Kabul falls to the Taliban, but markets have already priced-in the news. The real upset may come when the Fed announces it's going to taper QE; The Fed's Liquidity Trap & Liquidity Alarms; The Three Things that will tell you it's time to get out of the markets, ------ SEG-1: Markets are Built on Confidence & Stability SEG-2: The Liquidity Alarm SEG-3: Three Things That'll Tell You to Get Out of the Market -------- Chief Investment Strategist Lance Roberts, CIO -------- Today's Three Minutes on Markets & Money: https://www.youtube.com/watch?v=Tqsxle6AmOQ&list=PLVT8LcWPeAujOhIFDH3jRhuLDpscQaq16&index=1 -------- Get more info & commentary: https://realinvestmentadvice.com/newsletter/ -------- SUBSCRIBE to The Real Investment Show here: http://www.youtube.com/c/TheRealInvestmentShow -------- Visit our Site: www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN -------- Subscribe to RIA Pro: https://riapro.net/home -------- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #Fed #Bitcoin #Gold #Stocks #Trading #Rates #Money #Markets #Afghanistan #Kabul

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In today's show, you will learn why inflation has likely peaked, what the recent economic data tells us about the global economy, how retail sales suggest a demand problem, how rising gasoline inventories suggest a demand problem, how today's 10-year Treasury auction was received, and just how crazy the speculative call buying option has been. Plus, we'll look at a few charts. #BondBullish #DollarBullish #ConsumerPriceIndex Have a question for the show? From time to time I answer your questions. E-mail Steve or, send him a message on Facebook, LinkedIn or Twitter. http://stevenvanmetre.com/about/contact/ https://www.facebook.com/svmfin/ https://www.linkedin.com/in/steven-van-metre-b4a08b182/ https://twitter.com/MetreSteven https://stevenvanmetre.com/portfolio-shield/ Watermark Artwork by Jasmine Miller Twitter: @jazcreative The content of this video is provided as educational information only and is not intended to provide investment or other advice. This material is not to be construed as a recommendation or solicitation to buy or sell any security, financial product, instrument, or to participate in any particular trading strategy. This video was prepared by Steven Van Metre in my own personal capacity. The opinions expressed in this video are my own and do not reflect the view of Atlas Financial Advisors, Inc. or Steven Van Metre Financial.

In today's show, you will learn how the Fed has created a liquidity trap with its Quantitative Easing program that will lead to lower Treasury yields and lower consumer prices despite the increase in the money supply. https://www.stlouisfed.org/publications/regional-economist/april-2014/the-liquidity-trap-an-alternative-explanation-for-todays-low-inflation #EducationalSeries #LiquidityTrap #M2MoneySupply Have a question for the show? From time to time I answer your questions. E-mail Steve or, send him a message on Facebook, LinkedIn or Twitter. http://stevenvanmetre.com/about/contact/ https://www.facebook.com/svmfin/ https://www.linkedin.com/in/steven-van-metre-b4a08b182/ https://twitter.com/MetreSteven https://stevenvanmetre.com/portfolio-shield/ Watermark Artwork by Jasmine Miller Twitter: @jazcreative The content of this video is provided as educational information only and is not intended to provide investment or other advice. This material is not to be construed as a recommendation or solicitation to buy or sell any security, financial product, instrument, or to participate in any particular trading strategy. This video was prepared by Steven Van Metre in my own personal capacity. The opinions expressed in this video are my own and do not reflect the view of Atlas Financial Advisors, Inc. or Steven Van Metre Financial.

Scott Sumner is the Ralph G. Hawtrey Chair of Monetary Policy at the Mercatus Center and a returning guest to Macro Musings. He joins the podcast today to talk about his ongoing work on the Princeton School of Macroeconomics as well as his thoughts on monetary policy in 2021. Specifically, David and Scott discuss the economic contributions of various different Princeton economists as well as how the central bank can overcome inflationary fears and establish further institutional credibility.   Transcript for the episode can be found here: https://www.mercatus.org/bridge/tags/macro-musings   Scott’s automated Twitter: @MoneyIllusion Scott’s blog: https://www.themoneyillusion.com/ Scott’s Mercatus profile: https://www.mercatus.org/scholars/scott-sumner   Related Links:   *It’s Baaack: Japan’s Slump and the Return of the Liquidity Trap* by Paul Krugman, Kathryn Dominguez, and Kenneth Rogoff https://www.brookings.edu/bpea-articles/its-baaack-japans-slump-and-the-return-of-the-liquidity-trap/   *Great Expectations and the End of the Depression* by Gauti Eggertsson https://www.jstor.org/stable/29730131?seq=1   *The Zero Bound on Interest Rates and Optimal Monetary Policy* by Gauti Eggertsson and Michael Woodford https://www.brookings.edu/bpea-articles/the-zero-bound-on-interest-rates-and-optimal-monetary-policy/   *Methods of Policy Accommodation at the Interest-Rate Lower Bound* by Michael Woodford https://kansascityfed.org/publicat/sympos/2012/mw.pdf   *Bernanke’s No-arbitrage Argument Revisited: Can Open Market Operations in Real Assets Eliminate the Liquidity Trap?* By Gauti Eggertsson and Kevin Proulx https://www.nber.org/papers/w22243   *Japanese Monetary Policy: A Case of Self-Induced Paralysis?* by Ben Bernanke https://www.princeton.edu/~pkrugman/bernanke_paralysis.pdf   *Implementing Optimal Policy through Inflation-Forecast Targeting* by Lars Svensson and Michael Woodford https://www.nber.org/papers/w9747   *Escaping from a Liquidity Trap and Deflation: The Foolproof Way and Others* by Lars Svensson https://www.nber.org/papers/w10195   David’s blog: macromarketmusings.blogspot.com David’s Twitter: @DavidBeckworth

An interview with Sandy Kemper, CEO @ C2FO.Links and resources:Link: C2FOLink: How to Solve the $16 Trillion Liquidity Trap

When markets get volatile, strange things start to happen in markets you might not expect. That's both a sign of stress, and in some cases, a sign of opportunity.

Carlos Ghosn's Escape from Japan; Iran: The story that keeps on giving; the Fed's Liquidity Trap; the market is not the economy; The Iran Saga: Toothless Sanctions? China Trade Phase One signing; Michael Lebowitz on Fed Liquidity Catch-22; Market Complacency; The Role of an Advisor; The Harper's Ferry river ride.

The Fed's Liquidity Trap continues to dig a deeper hole; the market is not the economy, but a reflection of it; Portfolio Manager Michael Lebowitz, CFA w RIA Advisors Chief Investment Strategist Lance Roberts examine the consequences in over-confidence in the market.

Diana Amoa, JPMorgan Asset Management Fixed Income Portfolio Manager, discusses why the Fed needs to act into a deeper cutting cycle. Bill Smead, Smead Capital Management Founder, says the U.S. economy is pretty strong. Janet Henry, HSBC Bank Global Chief Economist, says a trade deal would be good news for equities. And Shira Ovide, Bloomberg Opinion Columnist, indicates Slack is not raising capital today. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Diana Amoa, JPMorgan Asset Management Fixed Income Portfolio Manager, discusses why the Fed needs to act into a deeper cutting cycle. Bill Smead, Smead Capital Management Founder, says the U.S. economy is pretty strong. Janet Henry, HSBC Bank Global Chief Economist, says a trade deal would be good news for equities. And Shira Ovide, Bloomberg Opinion Columnist, indicates Slack is not raising capital today.

Co-hosts Carlos Eduardo Suprinyak, Gerardo Serra, and Scott Scheall summarize and discuss several recent contributions to the scholarly literature in the history of economic thought. Topics include the funding practices of the Ford Foundation in 1960s Latin America, as well as the continuing relevance of both the socialist calculation and Hayek-Keynes debates to contemporary economics and, especially, economic policymaking.  If you are inclined to read the papers discussed in this episode, here they are (unfortunately, some may be behind paywalls):  Patrick Iber - "Social Science, Cultural Imperialism, and the Ford Foundation in Latin America in the 1960s" https://www.taylorfrancis.com/books/9781315200828/chapters/10.4324%2F9781315200828-6 Richard Sutch - "Reading Keynes at the Zero Lower Bound: The Great Depression, The Liquidity Trap, and Unconventional Policy"  https://www.cambridge.org/core/journals/journal-of-the-history-of-economic-thought/article/reading-keynes-at-the-zero-lower-bound-the-great-depression-the-liquidity-trap-and-unconventional-policy/72E234973C73D7574722AE16BC64967E Thomas Uebel - "Calculation in Kind and Substantive Rationality: Neurath, Weber, Kapp" https://read.dukeupress.edu/hope/article-abstract/50/2/289/134727/Calculation-in-Kind-and-Substantive?redirectedFrom=fulltext Smith and Marx Walk into a Bar is supported by a grant from the History of Economics Society: http://historyofeconomics.org

Paul Krugman is a Nobel Laureate in economics, a columnist at *The New York Times,* and a Distinguished Professor of Economics at the Graduate Center of the City University of New York. He joins the show to discuss his work on liquidity traps, Japan’s Lost Decade, and lessons from the Great Recession. Paul also explains how Isaac Asimov’s science fiction inspired him to become an economist. David’s blog: http://macromarketmusings.blogspot.com/ Paul Krugman’s CUNY profile: https://www.gc.cuny.edu/stonecenter/Paul-Krugman Paul Krugman’s blog: https://krugman.blogs.nytimes.com/ Paul Krugman’s NYT archive: https://www.nytimes.com/column/paul-krugman David’s Twitter: @DavidBeckworth Paul Krugman’s Twitter: @paulkrugman Related links: “It’s Baaack: Japan’s Slump and the Return of the Liquidity Trap” by Kathryn M. Dominguez, Kenneth S. Rogoff, and Paul R. Krugman https://www.brookings.edu/bpea-articles/its-baaack-japans-slump-and-the-return-of-the-liquidity-trap/ "Debt, Deleveraging, and the Liquidity Trap: A Fisher-Minsky-Koo approach" by Gauti Eggertsson and Paul Krugman https://www.gc.cuny.edu/CUNY_GC/media/LISCenter/pkrugman/The-Quarterly-Journal-of-Economics-2012-Eggertsson-1469-513.pdf “The New York Economic Geography, Now Middle-Aged” by Paul Krugman https://www.princeton.edu/~pkrugman/aag.pdf *Global Inequality: A New Approach for the Age of Globalization* by Branko Milanovic http://www.hup.harvard.edu/catalog.php?isbn=9780674737136

Transcript -- Pontus Rendahl (Dept of Economics, Cambridge University) discusses Pros and Cons quantitative easing

Pontus Rendahl (Dept of Economics, Cambridge University) discusses Pros and Cons quantitative easing

Scott Sumner of Bentley University and the blog The Money Illusion talks with EconTalk host Russ Roberts about the state of monetary policy, the actions of the Federal Reserve over the past two years and the state of the economy. Sumner argues that monetary policy has been too tight and helped create the crisis. He disputes the relevance of the so-called liquidity trap and argues that aggressive monetary policy is both possible and desirable. The conversation closes with a discussion of what we have learned and failed to learn during the crisis.

Scott Sumner of Bentley University and the blog The Money Illusion talks with EconTalk host Russ Roberts about the state of monetary policy, the actions of the Federal Reserve over the past two years and the state of the economy. Sumner argues that monetary policy has been too tight and helped create the crisis. He disputes the relevance of the so-called liquidity trap and argues that aggressive monetary policy is both possible and desirable. The conversation closes with a discussion of what we have learned and failed to learn during the crisis.