Eric Leeper's guest appearances

Eric Leeper

Macro Musings with David Beckworth

The New Liberal Podcast

Ezra Klein

Andrea Jones

Paul Williams

Bryan Caplan

Zach Weinersmith

Alex Nowrasteh

Austen Allred

Elizabeth Warren

Antonio Garcia Martinez

Ran Abramitzky

Chris Blattman

Glen Weyl

Chris Arnade

Andrew Gelman

Noah Smith

OwlTail

Eric Leeper is a professor of economics at the University of Virginia, an advisor to the Swedish and German central banks and a former Fed economist. Eric has written widely on the links between monetary policy and fiscal policy and joins David on Macro Musings to discuss these links and their implication for the price level. Specifically, Eric and David discuss the relationship between fiscal authorities and monetary authorities as it relates to fiscal dominance and monetary dominance, how the fiscal theory of the price level (FTPL) enhances our understanding of these relationships, how the FTLP can be applied to contemporary economies, what our expectations of fiscal policy should be moving forward, and much more.   Transcript for the episode can be found  here.   Eric’s UVA profile: https://economics.virginia.edu/people/profile/eml3jf Eric’s NBER archive: https://www.nber.org/people/eric_leeper?page=1&amp;perPage=50   Related Links:   *Some Unpleasant Monetarist Arithmetic* by Neil Wallace and Thomas J. Sargent  https://www.minneapolisfed.org/research/quarterly-review/some-unpleasant-monetarist-arithmetic   *Equilibria under 'Active' and 'Passive' Monetary and Fiscal Policies* by Eric M. Leeper  https://www.researchgate.net/publication/4907434_Equilibria_Under_'Active'_and_'Passive'_Monetary_Policies   *Monetary Science, Fiscal Alchemy* by Eric M. Leeper https://www.nber.org/papers/w16510   *The Fiscal Theory of Price Level with a Bubble* by Markus K. Brunnermeier, Sebastian A. Merkel, and Yuliy Sannikov https://www.nber.org/papers/w27116   *Liquidity Premiums on Government Debt and the Fiscal Theory of the Price Level* by Aleksander Berentsen and Christopher J. Waller https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2943241   David’s Twitter: @DavidBeckworth David’s blog: http://macromarketmusings.blogspot.com/

Eric Leeper is a professor of economics at the University of Virginia, an advisor to the Swedish and German central banks and a former Fed economist. Eric has written widely on the links between monetary policy and fiscal policy and joins David on Macro Musings to discuss these links and their implication for the price level. Specifically, Eric and David discuss the relationship between fiscal authorities and monetary authorities as it relates to fiscal dominance and monetary dominance, how the fiscal theory of the price level (FTPL) enhances our understanding of these relationships, how the FTLP can be applied to contemporary economies, what our expectations of fiscal policy should be moving forward, and much more. Transcript for the episode can be found <a href="https://www.mercatus.org/macro-musings/eric-leeper-interactions-fiscal-and-monetary-policy" rel="nofollow" target="_blank"> here.</a> Eric’s UVA profile: <a href="https://economics.virginia.edu/people/profile/eml3jf" rel="nofollow" target="_blank">https://economics.virginia.edu/people/profile/eml3jf</a> Eric’s NBER archive: <a href="https://www.nber.org/people/eric_leeper?page=1&amp;perPage=50" rel="nofollow" target="_blank">https://www.nber.org/people/eric_leeper?page=1&amp;perPage=50</a> Related Links: *Some Unpleasant Monetarist Arithmetic* by Neil Wallace and Thomas J. Sargent <a href="https://www.minneapolisfed.org/research/quarterly-review/some-unpleasant-monetarist-arithmetic" rel="nofollow" target="_blank"> https://www.minneapolisfed.org/research/quarterly-review/some-unpleasant-monetarist-arithmetic</a> *Equilibria under 'Active' and 'Passive' Monetary and Fiscal Policies* by Eric M. Leeper <a href="https://www.researchgate.net/publication/4907434_Equilibria_Under_'Active'_and_'Passive'_Monetary_Policies" rel="nofollow" target="_blank"> https://www.researchgate.net/publication/4907434_Equilibria_Under_'Active'_and_'Passive'_Monetary_Policies</a> *Monetary Science, Fiscal Alchemy* by Eric M. Leeper <a href="https://www.nber.org/papers/w16510" rel="nofollow" target="_blank">https://www.nber.org/papers/w16510</a> *The Fiscal Theory of Price Level with a Bubble* by Markus K. Brunnermeier, Sebastian A. Merkel, and Yuliy Sannikov <a href="https://www.nber.org/papers/w27116" rel="nofollow" target="_blank">https://www.nber.org/papers/w27116</a> *Liquidity Premiums on Government Debt and the Fiscal Theory of the Price Level* by Aleksander Berentsen and Christopher J. Waller <a href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2943241" rel="nofollow" target="_blank">https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2943241</a> David’s Twitter: @DavidBeckworth David’s blog: <a href="http://macromarketmusings.blogspot.com/" rel="nofollow" target="_blank">http://macromarketmusings.blogspot.com/</a>

Eric Leeper on the Interactions of Fiscal and Monetary Policy

Ben Ritz

The New York Times declared a 'victory lap' for MMT - but is that justified? Ben Ritz and Eric Leeper join the show to discuss Modern Monetary Theory.  What exactly does MMT say, and why is it so hard to pin down MMT's advocates to a firm position? What does the current inflation mean for the theory, and why don't mainstream economists accept it? Ultimately, what's wrong with MMT? Check out the new report from PPI -  https://www.progressivepolicy.org/wp-content/uploads/2022/02/PPI_Modern-Monetary-Theory-E.Leeper-02072022.pdf To make sure you hear every episode, join our Patreon at https://www.patreon.com/neoliberalproject. Patrons get access to exclusive bonus episodes, our sticker-of-the-month club, and our insider Slack.  Become a supporter today! Got questions for the Neoliberal Podcast?  Send them to mailbag@neoliberalproject.org                      Follow us at:             https://twitter.com/ne0liberal https://www.instagram.com/neoliberalproject/ https://www.facebook.com/groups/1930401007051265/   Join a local chapter at       https://neoliberalproject.org/join

The New York Times declared a 'victory lap' for MMT - but is that justified? Ben Ritz and Eric Leeper join the show to discuss Modern Monetary Theory.  What exactly does MMT say, and why is it so hard to pin down MMT's advocates to a firm position? What does the current inflation mean for the theory, and why don't mainstream economists accept it? Ultimately, what's wrong with MMT? Check out the new report from PPI - <a href="https://www.progressivepolicy.org/wp-content/uploads/2022/02/PPI_Modern-Monetary-Theory-E.Leeper-02072022.pdf" rel="nofollow" target="_blank"> https://www.progressivepolicy.org/wp-content/uploads/2022/02/PPI_Modern-Monetary-Theory-E.Leeper-02072022.pdf</a> To make sure you hear every episode, join our Patreon at <a href="https://www.patreon.com/neoliberalproject" rel="nofollow" target="_blank">https://www.patreon.com/neoliberalproject</a>. Patrons get access to exclusive bonus episodes, our sticker-of-the-month club, and our insider Slack.  Become a supporter today! Got questions for the Neoliberal Podcast?  Send them to mailbag@neoliberalproject.org Follow us at: <a href="https://twitter.com/ne0liberal" rel="nofollow" target="_blank">https://twitter.com/ne0liberal</a> <a href="https://www.instagram.com/neoliberalproject/" rel="nofollow" target="_blank">https://www.instagram.com/neoliberalproject/</a> <a href="https://www.facebook.com/groups/1930401007051265/" rel="nofollow" target="_blank">https://www.facebook.com/groups/1930401007051265/</a>   Join a local chapter at <a href="https://neoliberalproject.org/join" rel="nofollow" target="_blank">https://neoliberalproject.org/join</a>

What's wrong with MMT? ft. Eric Leeper & Ben Ritz