John Cochrane interview

By Paul Walker 09/01/2014

The Federal Reserve Bank of Richmond has published an interview with Professor John Cochrane in their Econ Focus magazine.

A sample of the questions:

  • Does the 2010 Dodd-Frank regulatory reform act meaningfully address runs on shadow banking?
  • So what do you think is the most promising way to meaningfully end “too big to fail”?
  • Do you think there’s any reason to believe recessions following financial crises should necessarily be longer and more severe, as Carmen Reinhart and Kenneth Rogoff have famously suggested?
  • Many people have asked whether the finance industry has gotten too big. How should we think about that?
  • What are your thoughts on quantitative easing (QE) — the Fed’s massive purchases of Treasuries and other assets to push down long-term interest rates — both on its effectiveness and on the fear that it’s going to lead to hyperinflation?
  • Both fiscal and monetary policies have been on extreme courses recently. What are your thoughts on how they might affect each other as they move back to normal levels?
  • Switching gears to finance specifically, what do you think are some of the big unanswered questions for research?
  • You wrote an op-ed on an “alternative maximum tax.” What’s the idea there?
  • Can transfers really help the bottom half of the income distribution?
  • Which economists have influenced you the most?

But its the answers that are important.

Ed: John Cochrane provided the 2012 Condliffe Memorial Lecture at the University of Canterbury. You can view his lecture here.