Tuesday, May 19, 2020

Reopening the economy, and aftermath, now on Youtube

My Bendheim Center talk and discussion with Markus Brunnermeier on all things Covid-19 and economics is now on YouTube, direct link here. I start at 14:08.

If you like the paintings behind me and you're getting bored, more info here. (Shameless nepotism disclaimer.)


  1. I totally don't understand around minute 55: reserves are short-term treasury debt. Which reserves are you referring to? Commercial banks (excess?) reserves at the FED? Thanks in advance.

    1. This must be interest on excess reserve (IEOR) on deposit at the Fed.

  2. What do you think the rate will be at which perpetuities will place in the market if they were actually to be issued?

  3. Sadly, the geniuses in charge have not pushed the avoid prolonged close-range/face-to-face contact with spittle making activities, such as loud talking, yelling, singing, coughing/sneezing, etc. in enclosed spaces. Instead they blindly yell "social distancing," even if you are on a beach, out to sea on a wave board, etc. Therefore, we get people re-engaging in indoor, close range social/business/religious activities. The odd thing is the failure of public health officials has been so across the board uniform. None that I can tell, have tried to teach avoiding prolonged close-range contact avoidance rather than just blind six-foot buffers anywhere and everywhere. No talk of spittle-maker control since you have to point that at someone to spittle on or catch spittle from another.

  4. Transcript, please. Video is such a bad way to transmit information and argument.


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