Former Fed Governor Jeremy Stein explain to us his recent research “The Federal Reserve's Balance Sheet as a Financial-Stability Tool” coauthored with Robin Greenwood and Samuel Hanson.
Cochrane discusses with us his view on the development in Macroeconomics since the Great Depression. He also explains what Neo-Fisherian and Fiscal Theory of Price Level are, and why they are important for understanding the current economic situation around the world.
The honorable guest for this installment is Atif Mian, Theodore A. Wells '29 Professor of Economics and Public Affairs at Princeton University, and Director of the Julis-Rabinowitz Center for Public Policy and Finance at the Woodrow Wilson School. Professor Mian will first discuss if there are any "revolutionary" changes happened in macroeconomic academia since the Great Recession.
In this installment of the interview, Professor Mian explains the major findings in his recent research paper "Household Debt and Business Cycles World Wide" and the important implications of that paper.