Sorry for the blogging hiatus. I have been busy with other projects--I am seeking tenure after all and have to produce research that counts toward that goal--and activities. Some of these activities have been several trips to Capital Hill to do briefings on nominal GDP targeting to Congressional and Senate staffers. One of those trips was yesterday, with Scott Sumner and I presenting to a group of about 70 staffers. Former Dallas Fed President Bob McTeer moderated. Here are the slides I used in my talk and here is Scott's new paper on NGDP targeting. We had a good time and hopefully changed some thinking on the Hill. Thanks to John C. Goodman and the NCPA for making this happen.
PS. Too bad Bob McTeer is not still the Dallas Fed President. He is a great monetary economist. Be sure to check out his blog.
Would have liked to have seen more on the connection between spending and employment, as well as some discussion of the pitfalls of interest-rate targeting, and the Fed's role in managing expectation. Otherwise the presentation looked good. I assume you didn't get to speak for long...
ReplyDeleteSaturos,
ReplyDeleteYes, the slides were not a comprehensive survey of the topic. Rather, some of them were used to highlight my opening remarks and some were used later to highlight certain points. Some of the points you raise did come out in discussion though.
We were told by the organizer to keep the presentation simple and jargon-free as possible. The slides also reflect that request.
David: You read this yet?
ReplyDeletehttp://blogs.reuters.com/anatole-kaletsky/2012/10/25/is-a-revolution-in-economic-thinking-under-way/
I'm pleased that I could buy a Kindle Edition of your book.
ReplyDeleteAnonymous, will take a look.
ReplyDeleteDonald, thanks! Hope you enjoy.
Any word on whether/when the video of the presentation will be made available?
ReplyDelete