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Luca Fornaro on Hysteresis, Endogenous Growth, and Aggregate Demand Policies
Manage episode 483676283 series 2461388
Luca Fornaro is a senior researcher at CREI and professor at both UPF and the Barcelona School of Economics. In Luca’s first appearance on the show, he discusses his expansive work on, hysteresis, stagnation traps, endogenous growth, aggregate demand policies, the medium run, population growth and much more.
Check out the transcript for this week’s episode, now with links.
Recorded on April 23th, 2025
Subscribe to David's Substack: Macroeconomic Policy Nexus
Follow David Beckworth on X: @DavidBeckworth
Follow the show on X: @Macro_Musings
Follow Luca on X: @LucaFornaro3
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!
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Timestamps:
(00:00:00) – Intro
(00:00:51) – Luca’s Background
(00:03:19) – Hysteresis
(00:7:23) – Why Talk About Hysteresis Now?
(00:10:55) – Stagnation Trap
(00:16:07) – The Medium Run
(00:22:25) – Managing Expectations with Automatic Stabilizers
(00:28:48) – What About Population Growth?
(00:31:47) – The Empirical Side
(00:39:24) – Directing Capital Flows
(00:42:30) – The Scars of Supply Shocks
(00:48:57) – The Nominal GDP Targeting Solution
(00:51:28) – Fiscal Stagnation
(00:59:21) – Outro
497 episodes
Manage episode 483676283 series 2461388
Luca Fornaro is a senior researcher at CREI and professor at both UPF and the Barcelona School of Economics. In Luca’s first appearance on the show, he discusses his expansive work on, hysteresis, stagnation traps, endogenous growth, aggregate demand policies, the medium run, population growth and much more.
Check out the transcript for this week’s episode, now with links.
Recorded on April 23th, 2025
Subscribe to David's Substack: Macroeconomic Policy Nexus
Follow David Beckworth on X: @DavidBeckworth
Follow the show on X: @Macro_Musings
Follow Luca on X: @LucaFornaro3
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) – Luca’s Background
(00:03:19) – Hysteresis
(00:7:23) – Why Talk About Hysteresis Now?
(00:10:55) – Stagnation Trap
(00:16:07) – The Medium Run
(00:22:25) – Managing Expectations with Automatic Stabilizers
(00:28:48) – What About Population Growth?
(00:31:47) – The Empirical Side
(00:39:24) – Directing Capital Flows
(00:42:30) – The Scars of Supply Shocks
(00:48:57) – The Nominal GDP Targeting Solution
(00:51:28) – Fiscal Stagnation
(00:59:21) – Outro
497 episodes
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