Hosted by David Beckworth of the Mercatus Center, Macro Musings pulls back the curtain on the important macroeconomic issues of the past, present, and future.
Liya Palagashvili on the Gig Economy, Portable Benefits, and Changing Labor Regulations
Liya Palagashvili is a senior research fellow and director of the Labor Policy Project at the Mercatus Center. In Liya’s first appearance on the show she explains federal and state level changes to labor regulations, who makes up the gig economy workforce, the role women play in the independent workforce, the novel concept of portable benefits, and much more. Check out the transcript for this week’s episode, now with links. Recorded on January 31st, 2025 Follow David Beckworth on X: @DavidBeckworth Follow the show on X: @Macro_Musings Follow Liya on X: MissLiyaP Check out our new AI chatbot: the Macro Musebot! Join the new Macro Musings Discord server! Join the Macro Musings mailing list! Check out our Macro Musings merch! Subscribe to David's new BTS YouTube Channel Timestamps: (00:00:00) – Intro (00:01:37) – Liya’s Background and Interest in Labor Economics (00:03:18) – Labor Policy Project and Labor Market Matters (00:07:32) –Independent Contractors and the Gig Economy (00:17:20) – Independent Work as a Buffer from Shocks (00:23:40) – Women and Independent Work (00:31:01) – Men in the Independent Workforce (00:35:23) – Myths Surrounding the Gig Economy (00:39:36) – Portable Benefits for Independent Workers (00:49:48) – Port Strikes and Dynamic Labor Markets (01:02:36) – Outro
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1:03:17
Evan Koenig on the Case for Nominal GDP Targeting
Evan Koenig is a former senior aide to the president of the Dallas Fed. Evan returns to the show to discuss, the ins and outs of nominal GDP targeting, the practical applications of NGDP targeting, the reasons the Fed should consider it for the framework review, and much more. Check out the transcript for this week’s episode, now with links. Recorded on October 29th, 2024 Follow David Beckworth on X: @DavidBeckworth Follow the show on X: @Macro_Musings Check out our new AI chatbot: the Macro Musebot! Join the new Macro Musings Discord server! Join the Macro Musings mailing list! Check out our Macro Musings merch! Subscribe to David's new BTS YouTube Channel Timestamps: (00:00:00) – Intro (00:01:06) – Evan Koenig at the Fed (00:02:04) – Nominal GDP Targeting (00:06:22) – Why the Fed Didn’t Consider Nominal GDP Targeting (00:17:25) – How to Explain Nominal GDP Targeting to the Public (00:23:10) – Main Arguments for Nominal GDP Targeting (00:33:52) – Practical Applications of Nominal GDP (00:47:19) – Nominal GDP Targeting and the Fed’s Upcoming Framework Review (00:50:57) – Outro
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51:38
Steven Kelly on the Challenges of Treasury Equity Funding for 13(3) Facilities
Steven Kelly is the associate director of research as the Yale Program on Financial Stability. Steven returns to the show to discuss his new model, the Treasury Equity Model of the Federal Reserve’s emergency lending. Check out the transcript for this week’s episode, now with links. Recorded on January 23rd, 2025 Follow David Beckworth on X: @DavidBeckworth Follow Steven Kelly: @StevenKelly49 Follow the show on X: @Macro_Musings Check out our new AI chatbot: the Macro Musebot! Join the new Macro Musings Discord server! Join the Macro Musings mailing list! Check out our Macro Musings merch! Subscribe to David's new BTS YouTube Channel Timestamps: (00:00:00) – Intro (00:00:47) – The Discount Window and Its Current Momentum (00:03:22) – Evaluating the Treasury-Equity Model of Fed Emergency Lending (00:07:33) – The Fed’s Section 13(3) Facilities (00:12:54) – Creation of Section 13(3) (00:16:46) – Currency Swap Lines (00:18:36) – Beginnings of the Treasury-Equity Model (00:28:16) – Treasury-Equity Model During COVID-19 Pandemic (00:40:12) – Banking Turmoil of 2023 (00:46:15) – Advice for the Fed (00:47:50) – Outro
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48:31
Senator Pat Toomey on Fed Governance, Monetary Policy, and the future of Digital Assets
Pat Toomey is a former senator from the state of Pennsylvania and served on the Committee on Banking, Housing, and Urban Affairs. In Pat’s first appearance on the show he discussed his career in public service, Fed master accounts, the future on monetary policy, his quest for Fed accountability, the looming debt issue, and much more. Check out the transcript for this week’s episode, now with links. Recorded on January 23rd, 2025 Follow David Beckworth on X: @DavidBeckworth Follow Pat Toomey: @SenToomey Follow the show on X: @Macro_Musings Check out our new AI chatbot: the Macro Musebot! Join the new Macro Musings Discord server! Join the Macro Musings mailing list! Check out our Macro Musings merch! Subscribe to David's new BTS YouTube Channel Timestamps: (00:00:00) – Intro (00:01:09) – Senator Toomey’s Committee Work (00:21:21) – Federal Reserve Master Accounts (00:27:07) – Accountability of the Fed (00:30:07) – Monetary Policy (00:45:19) – Debts, Deficits, and Fiscal Policy (00:57:22) – Outro
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58:03
Brian Albrecht on Business Dynamism, Greedflation, and Antitrust
Brian Albrecht is the chief economist for the International Center for Law & Economics and is the coauthor of the economics newsletter Economic Forces. In Brian’s first appearance on the show, he discussed the data behind business dynamism, the notion of greedflation, the recent developments in antitrust, the update Econ 101 needs to make in regard to tariffs, and much more. Check out the transcript for this week’s episode, now with links. Recorded on January 6th, 2025 Follow David Beckworth on X: @DavidBeckworth Follow Brian Albrecht: @BrianCAlbrecht Follow the show on X: @Macro_Musings Check out our new AI chatbot: the Macro Musebot! Join the new Macro Musings Discord server! Join the Macro Musings mailing list! Check out our Macro Musings merch! Subscribe to David's new BTS YouTube Channel Timestamps: (00:00:00) – Intro (00:00:51) – Brian’s Education and Career (00:08:03) – Market Structure and Business Dynamism (00:31:07) – Greedflation (00:45:25) – Trump and Tariffs (00:55:51) – Outro
Hosted by David Beckworth of the Mercatus Center, Macro Musings pulls back the curtain on the important macroeconomic issues of the past, present, and future.
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