Filippo Gaddo, Managing Director at A&M and SPE Councillor, interviewed Greg Mankiw, Robert M. Beren Professor of Economics at Harvard University and author of popular Economics textbooks.
In the interview, Filippo and Greg review and discuss the current status of the business cycle, looking back at the inflation surge of 2021 and 2022, what caused it [mostly down to fiscal policy and overheated demand], the central bank reaction to it [quite late to act], and the success of managing inflation expectations.
Greg also surveys current policies under the Trump administration from tariffs to tax cuts and deregulation; and the political unwillingness of addressing the deficit and debt situation. Filippo and Greg debate if and when markets will start to worry seriously about the US debt and the possible consequences - there is no timeline but only the feeling that when it happens it will be fast and possibly unexpected.
Finally, Greg casts a ray of hope on the future of the economic profession highlighting the changes in the topics and the methods currently in favour of a younger generation of economists.
N. Gregory Mankiw is the Robert M. Beren Professor of Economics at Harvard University.
Professor Mankiw is a prolific writer and a regular participant in academic and policy debates. His research includes work on price adjustment, consumer behaviour, financial markets, monetary and fiscal policy, and economic growth. His published articles have appeared in academic journals, such as the American Economic Review, Journal of Political Economy, and Quarterly Journal of Economics, and in more widely accessible forums, such as The New York Times, The Washington Post, and The Wall Street Journal. He has written two popular textbooks—the intermediate-level textbook Macroeconomics (Worth Publishers) and the introductory textbook Principles of Economics (Cengage Learning). Principles of Economics has sold over two million copies and has been translated into twenty languages.
In addition to his teaching, research, and writing, Professor Mankiw has been a research associate of the National Bureau of Economic Research, an adviser to the Congressional Budget Office and the Federal Reserve Banks of Boston and New York, and a member of the ETS test development committee for the advanced placement exam in economics.
From 2003 to 2005 he served as Chairman of the President’s Council of Economic Advisers.
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