Why Europe Invented Central Banking
Check out the latest video from 'the researcher' channel here: https://youtu.be/y2-oBGBtQp8
Consider supporting me via: https://www.patreon.com/moneymacro or https://ko-fi.com/moneymacro
Central banks are the supposed champions of both price stability and financial stability....
But, have prices and finance really been very stable? or was the world of money actually more stable before central banking was invented?
BIG SHOUTOUT to Professor Dirk Bezemer, with whom I collaborated to create the script for this video as well as to Alex Moore Via http://www.dmsquaredagency.com who did the editing & graphics.
LIKE CHATTING ECON WITH ME
△ Follow me on Twitter: https://twitter.com/joerischasfoort
△ Follow me on LinkedIn: https://www.linkedin.com/in/joeri-schasfoort/
△ I have a private Discord server for Senior and Chief economist Patrons / members.
Otherwise I hang out in two Discord servers:
△ Unlearning Economics's server: https://discord.com/invite/jy8CNzDsgf
△ Capitalists server: https://discord.gg/8MeNJ7gfSR
5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo
SOURCES:
I've linked my sources in the blog that goes along with this video. Most links are in the text. But, I added some extra literature and data sources to the end of the blog: https://www.moneymacro.rocks/2021-10-01-central-bank-origin/
Timestamps:
0:00 - introduction
0:35 - South European Banks
4:08 - Bank of Amsterdam
9:38 - Channel plug
10:03 - Sveriges Riksbank
13:18 - Bank of England
Attribution:
-
Narrated and produced by Dr. Joeri Schasfoort (University of Groningen)….
Consider supporting me via: https://www.patreon.com/moneymacro or https://ko-fi.com/moneymacro
Central banks are the supposed champions of both price stability and financial stability....
But, have prices and finance really been very stable? or was the world of money actually more stable before central banking was invented?
BIG SHOUTOUT to Professor Dirk Bezemer, with whom I collaborated to create the script for this video as well as to Alex Moore Via http://www.dmsquaredagency.com who did the editing & graphics.
LIKE CHATTING ECON WITH ME
△ Follow me on Twitter: https://twitter.com/joerischasfoort
△ Follow me on LinkedIn: https://www.linkedin.com/in/joeri-schasfoort/
△ I have a private Discord server for Senior and Chief economist Patrons / members.
Otherwise I hang out in two Discord servers:
△ Unlearning Economics's server: https://discord.com/invite/jy8CNzDsgf
△ Capitalists server: https://discord.gg/8MeNJ7gfSR
5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo
SOURCES:
I've linked my sources in the blog that goes along with this video. Most links are in the text. But, I added some extra literature and data sources to the end of the blog: https://www.moneymacro.rocks/2021-10-01-central-bank-origin/
Timestamps:
0:00 - introduction
0:35 - South European Banks
4:08 - Bank of Amsterdam
9:38 - Channel plug
10:03 - Sveriges Riksbank
13:18 - Bank of England
Attribution:
-
Narrated and produced by Dr. Joeri Schasfoort (University of Groningen)….
active
Why Europe Invented Central Banking
Check out the latest video from 'the researcher' channel here: [...]
Check out the latest video from 'the researcher' channel here: https://youtu.be/y2-oBGBtQp8
Consider supporting me via: https://www.patreon.com/moneymacro or https://ko-fi.com/moneymacro
Central banks are the supposed champions of both price stability and financial stability....
But, have prices and finance really been very stable? or was the world of money actually more stable before central banking was invented?
BIG SHOUTOUT to Professor Dirk Bezemer, with whom I collaborated to create the script for this video as well as to Alex Moore Via http://www.dmsquaredagency.com who did the editing & graphics.
LIKE CHATTING ECON WITH ME
△ Follow me on Twitter: https://twitter.com/joerischasfoort
△ Follow me on LinkedIn: https://www.linkedin.com/in/joeri-schasfoort/
△ I have a private Discord server for Senior and Chief economist Patrons / members.
Otherwise I hang out in two Discord servers:
△ Unlearning Economics's server: https://discord.com/invite/jy8CNzDsgf
△ Capitalists server: https://discord.gg/8MeNJ7gfSR
5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo
SOURCES:
I've linked my sources in the blog that goes along with this video. Most links are in the text. But, I added some extra literature and data sources to the end of the blog: https://www.moneymacro.rocks/2021-10-01-central-bank-origin/
Timestamps:
0:00 - introduction
0:35 - South European Banks
4:08 - Bank of Amsterdam
9:38 - Channel plug
10:03 - Sveriges Riksbank
13:18 - Bank of England
Attribution:
-
Narrated and produced by Dr. Joeri Schasfoort (University of Groningen)….
Consider supporting me via: https://www.patreon.com/moneymacro or https://ko-fi.com/moneymacro
Central banks are the supposed champions of both price stability and financial stability....
But, have prices and finance really been very stable? or was the world of money actually more stable before central banking was invented?
BIG SHOUTOUT to Professor Dirk Bezemer, with whom I collaborated to create the script for this video as well as to Alex Moore Via http://www.dmsquaredagency.com who did the editing & graphics.
LIKE CHATTING ECON WITH ME
△ Follow me on Twitter: https://twitter.com/joerischasfoort
△ Follow me on LinkedIn: https://www.linkedin.com/in/joeri-schasfoort/
△ I have a private Discord server for Senior and Chief economist Patrons / members.
Otherwise I hang out in two Discord servers:
△ Unlearning Economics's server: https://discord.com/invite/jy8CNzDsgf
△ Capitalists server: https://discord.gg/8MeNJ7gfSR
5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo
SOURCES:
I've linked my sources in the blog that goes along with this video. Most links are in the text. But, I added some extra literature and data sources to the end of the blog: https://www.moneymacro.rocks/2021-10-01-central-bank-origin/
Timestamps:
0:00 - introduction
0:35 - South European Banks
4:08 - Bank of Amsterdam
9:38 - Channel plug
10:03 - Sveriges Riksbank
13:18 - Bank of England
Attribution:
-
Narrated and produced by Dr. Joeri Schasfoort (University of Groningen)….
active
Stagflation Coming? MMT Good? QE Bad? Best Econ Books? | Q&A Summary
Want to help me do more research? Consider supporting via: [...]
Want to help me do more research? Consider supporting via: https://www.patreon.com/moneymacro, https://ko-fi.com/moneymacro, or becoming a channel member by clicking join below.
Missed the Q&A or did I miss your question? Ask me anything in the comments below and I will try to answer.
Links to Some of the Books Mentioned
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo
Also mentioned: Economics Rules by Dani Rodrik
Timestamps:
0:00 welcome...
0:10 my job
0:44 why YouTube?
3:55 inspiring economists
5:27 productive debt
10:38 Richard Werner
12:31 response videos
15:56 MMT
17:27 Fiat devaluation
19:15 Sri-Lanka & China
21:24 Agent-Based Simulations
22:30 Crypto
23:54 DeFi
25:29 Energy Price Surge
27:07 stagflation
28:58 China video
29:31 China Window Guidance
31:38 CBDCs
33:07 Philips Curve
34:33 Argentinian Peso
36:22 Pandemic Recovery
37:41 UBI
40:00 North Korean Growth
40:58 Money Reduction
41:44 UE Colab
42:12 Turkish Economy
43:41 Best Pension System
45:22 Rethinking Economics
46:48 Econ Breakthrough
49:40 EU Target II
52:26 Econ video Games
53:53 Rational Expectations
56:41 Pandora Papers
57:59 QE Bubbles
59:35 Schools of Thought
1:03:35 Cat Break
1:03:43 My Ideology
1:05:03 Saudi Arabia
1:06:01 Books Recommendations
1:12:55 Game Economies
1:14:09 Biggest Worries
1:17:20 Greek Debt
1:18:16 Fintech
1:19:27 South Africa's Future
1:21:38 Inequality Bad?
1:22:28 Global Inequality Solvable?
1:24:33 Future of the Channel
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town & University of Groningen)
https://www.linkedin.com/in/joeri-schasfoort….
Missed the Q&A or did I miss your question? Ask me anything in the comments below and I will try to answer.
Links to Some of the Books Mentioned
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo
Also mentioned: Economics Rules by Dani Rodrik
Timestamps:
0:00 welcome...
0:10 my job
0:44 why YouTube?
3:55 inspiring economists
5:27 productive debt
10:38 Richard Werner
12:31 response videos
15:56 MMT
17:27 Fiat devaluation
19:15 Sri-Lanka & China
21:24 Agent-Based Simulations
22:30 Crypto
23:54 DeFi
25:29 Energy Price Surge
27:07 stagflation
28:58 China video
29:31 China Window Guidance
31:38 CBDCs
33:07 Philips Curve
34:33 Argentinian Peso
36:22 Pandemic Recovery
37:41 UBI
40:00 North Korean Growth
40:58 Money Reduction
41:44 UE Colab
42:12 Turkish Economy
43:41 Best Pension System
45:22 Rethinking Economics
46:48 Econ Breakthrough
49:40 EU Target II
52:26 Econ video Games
53:53 Rational Expectations
56:41 Pandora Papers
57:59 QE Bubbles
59:35 Schools of Thought
1:03:35 Cat Break
1:03:43 My Ideology
1:05:03 Saudi Arabia
1:06:01 Books Recommendations
1:12:55 Game Economies
1:14:09 Biggest Worries
1:17:20 Greek Debt
1:18:16 Fintech
1:19:27 South Africa's Future
1:21:38 Inequality Bad?
1:22:28 Global Inequality Solvable?
1:24:33 Future of the Channel
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town & University of Groningen)
https://www.linkedin.com/in/joeri-schasfoort….
active
The MacroEconomics of China's Evergrande
Thanks to Atlas VPN for sponsoring the channel: [...]
Thanks to Atlas VPN for sponsoring the channel: https://atlasv.pn/MoneyMacro
as well as my Patrons: https://www.patreon.com/moneymacro
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Liked the in-depth research and want to help me do more? Consider buying me a coffee at https://ko-fi.com/moneymacro
△ For some extra benefits consider supporting me longer term on: https://www.patreon.com/moneymacro
△ Finally, for other one-time donations: https://www.paypal.com/donate?hosted_button_id=LTE3H3FUND37Y
LIKE CHATTING ECON WITH ME
△ Follow me on Twitter: https://twitter.com/joerischasfoort
△ I have a private Discord server for Senior and Chief economist Patrons.
Otherwise I hang out in two Discord servers:
△ Unlearning Economics's server: https://discord.com/invite/jy8CNzDsgf
△ Capitalists server: https://discord.gg/8MeNJ7gfSR
5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo
SOURCES:
https://www.moneymacro.rocks/2021-09-28-macro-china/
Timestamps:
0:00 - introduction
1:57 - investment
2:28 - consumption
3:01 - government spending
3:59 - exports
4:24 - the future
Attribution:
- Thumbnail background via http://www.freepik.com
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town & University of Groningen)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/
Why do macroeconomists care about the fate of a single Chinese company?
I mean sure it is absolutely massive!!! with assets equal to roughly 2.2% of China's GDP.... but it is the losses on those assets that matter for GDP and those will surely be much less.
What's more China's GDP is typically growing around 6-8% every year.... So, China's economy should easily be able to shrug this one off ..... right?….
as well as my Patrons: https://www.patreon.com/moneymacro
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Liked the in-depth research and want to help me do more? Consider buying me a coffee at https://ko-fi.com/moneymacro
△ For some extra benefits consider supporting me longer term on: https://www.patreon.com/moneymacro
△ Finally, for other one-time donations: https://www.paypal.com/donate?hosted_button_id=LTE3H3FUND37Y
LIKE CHATTING ECON WITH ME
△ Follow me on Twitter: https://twitter.com/joerischasfoort
△ I have a private Discord server for Senior and Chief economist Patrons.
Otherwise I hang out in two Discord servers:
△ Unlearning Economics's server: https://discord.com/invite/jy8CNzDsgf
△ Capitalists server: https://discord.gg/8MeNJ7gfSR
5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo
SOURCES:
https://www.moneymacro.rocks/2021-09-28-macro-china/
Timestamps:
0:00 - introduction
1:57 - investment
2:28 - consumption
3:01 - government spending
3:59 - exports
4:24 - the future
Attribution:
- Thumbnail background via http://www.freepik.com
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town & University of Groningen)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/
Why do macroeconomists care about the fate of a single Chinese company?
I mean sure it is absolutely massive!!! with assets equal to roughly 2.2% of China's GDP.... but it is the losses on those assets that matter for GDP and those will surely be much less.
What's more China's GDP is typically growing around 6-8% every year.... So, China's economy should easily be able to shrug this one off ..... right?….
active
How Credit Money Transformed Medieval Europe
Want to help me do more research? Consider supporting via: [...]
Want to help me do more research? Consider supporting via: https://www.patreon.com/moneymacro or https://ko-fi.com/moneymacro
Is money a commodity or credit. I think both. But the commodity story is told everywhere whereas the credit story is not well known. This video therefore fills that gap by explaining the re-emergence of credit in Europe.
BIIIG SHOUTOUT to Professor Dirk Bezemer, with whom I collaborated to create the script for this video.
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Liked the in-depth research and want to help me do more? Consider buying me a coffee at https://ko-fi.com/moneymacro or for the Dutchies https://betaalverzoek.knab.nl/QaL7OZh....
△ For some extra benefits consider supporting me longer term on: https://www.patreon.com/moneymacro
△ Finally, for other one-time donations: https://www.paypal.com/donate?hosted_button_id=LTE3H3FUND37Y
LIKE CHATTING ECON WITH ME
△ Follow me on Twitter: https://twitter.com/joerischasfoort
△ I have a private Discord server for Senior and Chief economist Patrons.
Otherwise I hang out in two Discord servers:
△ Unlearning Economics's server: https://discord.com/invite/jy8CNzDsgf
△ Capitalists server: https://discord.gg/8MeNJ7gfSR
5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo
SOURCES:
I've linked my sources in the blog that goes along with this video. Most links are in the text. But, I added some extra literature and data sources to the end of the blog.
https://www.moneymacro.rocks/2021-08-27-medieval-europe/
Timestamps:
0:00 - introduction & theories
2:55 - rise of the money changers
5:38 - rise of bill-dealers
7:46 - rise of bankers & conclusion
Attribution:
- Thought-bubble: created by Harryarts - http://www.freepik.com
- Business vector created by rawpixel.com - http://www.freepik.com
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town & University of Groningen)
https://www.linkedin.com/in/joeri-schasfoort….
Is money a commodity or credit. I think both. But the commodity story is told everywhere whereas the credit story is not well known. This video therefore fills that gap by explaining the re-emergence of credit in Europe.
BIIIG SHOUTOUT to Professor Dirk Bezemer, with whom I collaborated to create the script for this video.
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Liked the in-depth research and want to help me do more? Consider buying me a coffee at https://ko-fi.com/moneymacro or for the Dutchies https://betaalverzoek.knab.nl/QaL7OZh....
△ For some extra benefits consider supporting me longer term on: https://www.patreon.com/moneymacro
△ Finally, for other one-time donations: https://www.paypal.com/donate?hosted_button_id=LTE3H3FUND37Y
LIKE CHATTING ECON WITH ME
△ Follow me on Twitter: https://twitter.com/joerischasfoort
△ I have a private Discord server for Senior and Chief economist Patrons.
Otherwise I hang out in two Discord servers:
△ Unlearning Economics's server: https://discord.com/invite/jy8CNzDsgf
△ Capitalists server: https://discord.gg/8MeNJ7gfSR
5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo
SOURCES:
I've linked my sources in the blog that goes along with this video. Most links are in the text. But, I added some extra literature and data sources to the end of the blog.
https://www.moneymacro.rocks/2021-08-27-medieval-europe/
Timestamps:
0:00 - introduction & theories
2:55 - rise of the money changers
5:38 - rise of bill-dealers
7:46 - rise of bankers & conclusion
Attribution:
- Thought-bubble: created by Harryarts - http://www.freepik.com
- Business vector created by rawpixel.com - http://www.freepik.com
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town & University of Groningen)
https://www.linkedin.com/in/joeri-schasfoort….
active
REALLY!? Hyperinflation is Already Here? | Economist Responds to @Economics Explained
Want to help me do more research? Consider supporting via: [...]
Want to help me do more research? Consider supporting via: https://www.patreon.com/moneymacro or https://ko-fi.com/moneymacro
As an economist who studied inflation and monetary policy during his PhD, I was rather confused about one of the latest Economics Explained (EE) videos which makes wild claims and introduces many (seemingly) new theories. So, in this video, I'm checking if EE's claims are at least somewhat grounded in economic theory and not directly contradicted by data.
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Liked the in-depth research and want to help me do more? Consider buying me a coffee at https://ko-fi.com/moneymacro or for the Dutchies https://betaalverzoek.knab.nl/QaL7OZhJm8NYp4Q.
△ For some extra benefits consider supporting me longer term on: https://www.patreon.com/moneymacro
△ Finally, for other one-time donations: https://www.paypal.com/donate?hosted_button_id=LTE3H3FUND37Y
△ Link to EE's video: https://youtu.be/1HmGLV46L60
△ Check out my economic country studies here: https://www.youtube.com/playlist?list=PLGbVoSdwvesDNHLHmkZzvW2vuCfllJhpA
5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo
PAPERS ON INVESTMENT UNDER INFLATION
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3813202
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2161124
SOURCES:
I've linked my sources in the blog that goes along with this video. Most links are in the text. But, I added some extra literature and data sources to the end of the blog.
https://www.moneymacro.rocks/2021-08-10-hyperinflation-response-ee/
Timestamps:
0:00 - introduction
1:57 - is the US like Weimar 1?
3:03 - sponsor
4:06 - is the US like Weimar 2?
13:07 - when is hyperinflation unstoppable?
18:50 - is the US special?
20:27 - how to protect yourself
Attribution:
- Check marks by Alvaro_cabrera / Freepik
- Baker & bread by macrovector / Freepik
- young woman by pch.vector / Freepik
- up arrow Designed by Freepik
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town & University of Groningen)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/….
As an economist who studied inflation and monetary policy during his PhD, I was rather confused about one of the latest Economics Explained (EE) videos which makes wild claims and introduces many (seemingly) new theories. So, in this video, I'm checking if EE's claims are at least somewhat grounded in economic theory and not directly contradicted by data.
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Liked the in-depth research and want to help me do more? Consider buying me a coffee at https://ko-fi.com/moneymacro or for the Dutchies https://betaalverzoek.knab.nl/QaL7OZhJm8NYp4Q.
△ For some extra benefits consider supporting me longer term on: https://www.patreon.com/moneymacro
△ Finally, for other one-time donations: https://www.paypal.com/donate?hosted_button_id=LTE3H3FUND37Y
△ Link to EE's video: https://youtu.be/1HmGLV46L60
△ Check out my economic country studies here: https://www.youtube.com/playlist?list=PLGbVoSdwvesDNHLHmkZzvW2vuCfllJhpA
5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo
PAPERS ON INVESTMENT UNDER INFLATION
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3813202
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2161124
SOURCES:
I've linked my sources in the blog that goes along with this video. Most links are in the text. But, I added some extra literature and data sources to the end of the blog.
https://www.moneymacro.rocks/2021-08-10-hyperinflation-response-ee/
Timestamps:
0:00 - introduction
1:57 - is the US like Weimar 1?
3:03 - sponsor
4:06 - is the US like Weimar 2?
13:07 - when is hyperinflation unstoppable?
18:50 - is the US special?
20:27 - how to protect yourself
Attribution:
- Check marks by Alvaro_cabrera / Freepik
- Baker & bread by macrovector / Freepik
- young woman by pch.vector / Freepik
- up arrow Designed by Freepik
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town & University of Groningen)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/….
active
The Middle Class Experience: Netherlands vs. USA (feat. @Econoboi)
A comparison of wages, cost-of-living, social safety nets, labor [...]
A comparison of wages, cost-of-living, social safety nets, labor markets, quality of life, family life, education systems, upward mobility, and the pension system.
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Liked the in-depth research and want to help me do more? Consider buying me a coffee at https://ko-fi.com/moneymacro or for the Dutchies https://betaalverzoek.knab.nl/QaL7OZhJm8NYp4Q.
△ For some extra benefits consider supporting me longer term on: https://www.patreon.com/moneymacro
△ Finally, for other one-time donations:
https://www.paypal.com/donate?hosted_button_id=LTE3H3FUND37Y
WANT TO SEE MORE CONTENT LIKE THIS?
△ Check out Econoboi's channel here: https://www.youtube.com/channel/UCfA54o0hJc1n7SfxYNSCafA
△ Interested in other country economic case studies? https://www.youtube.com/playlist?list=PLGbVoSdwvesDNHLHmkZzvW2vuCfllJhpA
△ Want to know about central banking? https://www.youtube.com/playlist?list=PLGbVoSdwvesCIGv-sN7OiQLryj2f4bAGE
△ Interested in bubbles and asset markets? https://www.youtube.com/playlist?list=PLGbVoSdwvesD_W5OHSJ6J_j-RKeCxl0OS
5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town & University of Groningen)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/
Script and Sources:
Check out the sources in detail on my blog (will update tomorrow):
https://www.moneymacro.rocks/blog/
VIDEOS I REFER TO IN THE VIDEO AND USED AS A SOURCE
- Here is the awesome video by @Not Just Bikes about using cars or renting one and how it interacts with city design: https://youtu.be/OObwqreAJ48
- I used this video from @Second Thought for information on how full-time working affects benefit payments in the United States: https://youtu.be/yhBkeAo2Hlg
Timestamps:
0:00 - introduction
3:16 - wages & cost-of-living
13:31 - social safety net
21:50 - labor market conditions
30:46 - quality of life
37:42 - family life
42:20 - education systems
49:35 - upward mobility
55:48 - pension systems
1:01:52 - final discussion
Attribution:
Standard Icons "Designed by rawpixel.com / Freepik"
Elderly and Oil industry Icons "Designed by macrovector / Freepik"
medicaid animation: Creative commons the Actors Fund (youtube channel)
rating icons: "Designed by starline / Freepik"
Finally, I used video clips from US news and tv shows under the 'fair use' clause.….
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Liked the in-depth research and want to help me do more? Consider buying me a coffee at https://ko-fi.com/moneymacro or for the Dutchies https://betaalverzoek.knab.nl/QaL7OZhJm8NYp4Q.
△ For some extra benefits consider supporting me longer term on: https://www.patreon.com/moneymacro
△ Finally, for other one-time donations:
https://www.paypal.com/donate?hosted_button_id=LTE3H3FUND37Y
WANT TO SEE MORE CONTENT LIKE THIS?
△ Check out Econoboi's channel here: https://www.youtube.com/channel/UCfA54o0hJc1n7SfxYNSCafA
△ Interested in other country economic case studies? https://www.youtube.com/playlist?list=PLGbVoSdwvesDNHLHmkZzvW2vuCfllJhpA
△ Want to know about central banking? https://www.youtube.com/playlist?list=PLGbVoSdwvesCIGv-sN7OiQLryj2f4bAGE
△ Interested in bubbles and asset markets? https://www.youtube.com/playlist?list=PLGbVoSdwvesD_W5OHSJ6J_j-RKeCxl0OS
5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town & University of Groningen)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/
Script and Sources:
Check out the sources in detail on my blog (will update tomorrow):
https://www.moneymacro.rocks/blog/
VIDEOS I REFER TO IN THE VIDEO AND USED AS A SOURCE
- Here is the awesome video by @Not Just Bikes about using cars or renting one and how it interacts with city design: https://youtu.be/OObwqreAJ48
- I used this video from @Second Thought for information on how full-time working affects benefit payments in the United States: https://youtu.be/yhBkeAo2Hlg
Timestamps:
0:00 - introduction
3:16 - wages & cost-of-living
13:31 - social safety net
21:50 - labor market conditions
30:46 - quality of life
37:42 - family life
42:20 - education systems
49:35 - upward mobility
55:48 - pension systems
1:01:52 - final discussion
Attribution:
Standard Icons "Designed by rawpixel.com / Freepik"
Elderly and Oil industry Icons "Designed by macrovector / Freepik"
medicaid animation: Creative commons the Actors Fund (youtube channel)
rating icons: "Designed by starline / Freepik"
Finally, I used video clips from US news and tv shows under the 'fair use' clause.….
active
REALLY!? Dutch Economy the Most Unequal? | Economist Responds to Economics Explained
As a Dutch economist who works for a South African University, I was [...]
As a Dutch economist who works for a South African University, I was absolutely shocked when I saw this video from Economics Explained (EE) which states that the economy of the Netherlands is in fact the most unequal on earth!!
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Liked the in-depth research and want to help me do more? Consider buying me a coffee at https://ko-fi.com/moneymacro
△ For some extra benefits consider supporting me longer term on: https://www.patreon.com/moneymacro
△ Link to EE's video: https://youtu.be/Ot4qdCs54ZE
△ Check out my economic country studies here: https://www.youtube.com/playlist?list=PLGbVoSdwvesDNHLHmkZzvW2vuCfllJhpA
SOURCES:
I've linked my sources in the blog that goes along with this video:
https://www.moneymacro.rocks/2021-05-01-dutch-econ-response-ee/
Timestamps:
0:00 - introduction
1:43 - bad numbers
10:22 - taxes reduce inequality
Attribution:
Big thanks to Minute Marty for shooting drone footage of Groningen for me. Check out his drone shots (Create Commons License) here: https://www.youtube.com/channel/UCf_-70GwlEelR1FvRa5Dppw/videos
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town & University of Groningen)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/….
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Liked the in-depth research and want to help me do more? Consider buying me a coffee at https://ko-fi.com/moneymacro
△ For some extra benefits consider supporting me longer term on: https://www.patreon.com/moneymacro
△ Link to EE's video: https://youtu.be/Ot4qdCs54ZE
△ Check out my economic country studies here: https://www.youtube.com/playlist?list=PLGbVoSdwvesDNHLHmkZzvW2vuCfllJhpA
SOURCES:
I've linked my sources in the blog that goes along with this video:
https://www.moneymacro.rocks/2021-05-01-dutch-econ-response-ee/
Timestamps:
0:00 - introduction
1:43 - bad numbers
10:22 - taxes reduce inequality
Attribution:
Big thanks to Minute Marty for shooting drone footage of Groningen for me. Check out his drone shots (Create Commons License) here: https://www.youtube.com/channel/UCf_-70GwlEelR1FvRa5Dppw/videos
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town & University of Groningen)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/….
active
The Economy of Lebanon: how to Fix its Currency Crisis
The economy of Lebanon is in a deep crisis. This video explores the [...]
The economy of Lebanon is in a deep crisis. This video explores the history of the Pound / Lira, the run-up to the crisis, the banking system, Lebanon's core macroeconomic problems, the economic solutions, and the political solutions.
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Liked the in-depth research and want to help me do more? Consider buying me a coffee at https://ko-fi.com/moneymacro
△ For some extra benefits consider supporting me longer term on: https://www.patreon.com/moneymacro
△ Finally, for other one-time donations: https://www.paypal.com/donate?hosted_button_id=LTE3H3FUND37Y
△ Interested in other country economic case studies? https://www.youtube.com/playlist?list=PLGbVoSdwvesDNHLHmkZzvW2vuCfllJhpA
△ Want to know about central banking? https://www.youtube.com/playlist?list=PLGbVoSdwvesCIGv-sN7OiQLryj2f4bAGE
△ Interested in bubbles and asset markets? https://www.youtube.com/playlist?list=PLGbVoSdwvesD_W5OHSJ6J_j-RKeCxl0OS
5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo
Want to see my sources (some sources are in text and the rest at the bottom), check out the script for this video here: https://www.moneymacro.rocks/2021-04-21-monetary-economics-lebanon/
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/
Timestamps:
0:00 - introduction
0:51 - history
3:33 - crisis
6:40 - economic problems
8:35 - economic solutions
11:20 - politics & future
Attribution
Fire icon thumbnail was created by pch.vector via freepik
Videos Creative Commons:
- war in the Middle East - cc -Reddebrek
- Civil war Lebacon cc International Red Cross
- Drone-footage-lebanon cc Jamil El Choueiry
- Protests in 2020 cc ScOpE
- Protests in 2019 cc Jamil El Choueiry
- American University of Beirut cc AUB
Pictures Creative Commons:
- Zaitunay Bay, Downtown Beirut, Lebanon cc husseinabdallah
- Straatbeeld in Beiroet cc Willem van de Poll
- Green Line, Beirut 1982 cc James Case
- Lira / Pound images from Bank of Lebanon
- Lebanese parliament cc Heretiq
- Bank of Lebanon cc Karan Jain
- Lebanon Al_Yatun (1981) cc Marco K
- Lebanon Tiny Country Big Trash Problem cc Ziad Abichaker
Songs Creative Commons:
- Dhaka by Kevin MacLeod is licensed under a Creative Commons Attribution 4.0 license. https://creativecommons.org/licenses/by/4.0/
Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1400003
Artist: http://incompetech.com/….
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Liked the in-depth research and want to help me do more? Consider buying me a coffee at https://ko-fi.com/moneymacro
△ For some extra benefits consider supporting me longer term on: https://www.patreon.com/moneymacro
△ Finally, for other one-time donations: https://www.paypal.com/donate?hosted_button_id=LTE3H3FUND37Y
△ Interested in other country economic case studies? https://www.youtube.com/playlist?list=PLGbVoSdwvesDNHLHmkZzvW2vuCfllJhpA
△ Want to know about central banking? https://www.youtube.com/playlist?list=PLGbVoSdwvesCIGv-sN7OiQLryj2f4bAGE
△ Interested in bubbles and asset markets? https://www.youtube.com/playlist?list=PLGbVoSdwvesD_W5OHSJ6J_j-RKeCxl0OS
5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo
Want to see my sources (some sources are in text and the rest at the bottom), check out the script for this video here: https://www.moneymacro.rocks/2021-04-21-monetary-economics-lebanon/
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/
Timestamps:
0:00 - introduction
0:51 - history
3:33 - crisis
6:40 - economic problems
8:35 - economic solutions
11:20 - politics & future
Attribution
Fire icon thumbnail was created by pch.vector via freepik
Videos Creative Commons:
- war in the Middle East - cc -Reddebrek
- Civil war Lebacon cc International Red Cross
- Drone-footage-lebanon cc Jamil El Choueiry
- Protests in 2020 cc ScOpE
- Protests in 2019 cc Jamil El Choueiry
- American University of Beirut cc AUB
Pictures Creative Commons:
- Zaitunay Bay, Downtown Beirut, Lebanon cc husseinabdallah
- Straatbeeld in Beiroet cc Willem van de Poll
- Green Line, Beirut 1982 cc James Case
- Lira / Pound images from Bank of Lebanon
- Lebanese parliament cc Heretiq
- Bank of Lebanon cc Karan Jain
- Lebanon Al_Yatun (1981) cc Marco K
- Lebanon Tiny Country Big Trash Problem cc Ziad Abichaker
Songs Creative Commons:
- Dhaka by Kevin MacLeod is licensed under a Creative Commons Attribution 4.0 license. https://creativecommons.org/licenses/by/4.0/
Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1400003
Artist: http://incompetech.com/….
active
The Economy of Japan: how a Superpower FELL from Grace in Four Decades
In 1989, the world was simultaneously fearful and in awe of the rise [...]
In 1989, the world was simultaneously fearful and in awe of the rise of the magnificent Japanese economy. So…. What the hell happened?
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Liked the in-depth research and want to help me do more? Consider buying me a coffee at https://ko-fi.com/moneymacro
△ For some extra benefits consider supporting me longer term on: https://www.patreon.com/moneymacro
△ Finally, for other one-time donations: https://www.paypal.com/donate?hosted_button_id=LTE3H3FUND37Y
△ Interested in other country economic case studies? https://www.youtube.com/playlist?list=PLGbVoSdwvesDNHLHmkZzvW2vuCfllJhpA
△ Want to know about central banking? https://www.youtube.com/playlist?list=PLGbVoSdwvesCIGv-sN7OiQLryj2f4bAGE
△ Interested in bubbles and asset markets? https://www.youtube.com/playlist?list=PLGbVoSdwvesD_W5OHSJ6J_j-RKeCxl0OS
5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town & University of Groningen)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/
Script and Sources:
Check out the sources (a.o. Richard Werner's books, Bank for International Settlement speeches, and Japanese newspapers) that I used for this video in the the script that you can find on my blog:
https://www.moneymacro.rocks/2021-03-22-economy-japan/
Timestamps:
0:00 - introduction
1:20 - 1980s
8:03 - 1990s
14:46 - 2000s
21:34 - 2010s
29:19 - the future & conclusion
Attribution:
clips trump protest: CC John Doyle
clips from Migrant rights protests UK CC Steve Eason
clips from Colorado immigration protests CC Unicorn Riot
clip Japanese politicians CC douga bubble
clip Disneyland opening CC Shatner Method
picture Orban & Putin CC Kremlin.ru
picture Helicopter money CC TGCP
Songs:
Ishikari Lore by Kevin MacLeod is licensed under a Creative Commons Attribution 4.0 license. https://creativecommons.org/licenses/by/4.0/
Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1100192
Artist: http://incompetech.com/
Further description:
While Japans economic might is still widely respected, it used to be the rising superstar of Asia. How did the economy of this Asian archipelago, which came so close to overtaking America as the number one economic superpower, end in deflation and stagnation?
I mean, by now it’s gotten so bad that the Bank of Japan, in a desperate attempt to turn this situation around, has bought up to 70% of government debt and has even become the biggest shareholder of corporate Japan.
This mini-documentary covers the period from 1979 till 2021 and spans Japan's asset bubble decade (featuring window guidance and the housing + stock bubble) as well as the three following decades that were characterized by debt-deflation and a banking crisis, the inflation expectations trap and population decline, respectively. It also has a critical look at Abenomics (from prime minister Shinzo Abe) and contains recommendations for the future of the Japanese economy.….
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Liked the in-depth research and want to help me do more? Consider buying me a coffee at https://ko-fi.com/moneymacro
△ For some extra benefits consider supporting me longer term on: https://www.patreon.com/moneymacro
△ Finally, for other one-time donations: https://www.paypal.com/donate?hosted_button_id=LTE3H3FUND37Y
△ Interested in other country economic case studies? https://www.youtube.com/playlist?list=PLGbVoSdwvesDNHLHmkZzvW2vuCfllJhpA
△ Want to know about central banking? https://www.youtube.com/playlist?list=PLGbVoSdwvesCIGv-sN7OiQLryj2f4bAGE
△ Interested in bubbles and asset markets? https://www.youtube.com/playlist?list=PLGbVoSdwvesD_W5OHSJ6J_j-RKeCxl0OS
5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town & University of Groningen)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/
Script and Sources:
Check out the sources (a.o. Richard Werner's books, Bank for International Settlement speeches, and Japanese newspapers) that I used for this video in the the script that you can find on my blog:
https://www.moneymacro.rocks/2021-03-22-economy-japan/
Timestamps:
0:00 - introduction
1:20 - 1980s
8:03 - 1990s
14:46 - 2000s
21:34 - 2010s
29:19 - the future & conclusion
Attribution:
clips trump protest: CC John Doyle
clips from Migrant rights protests UK CC Steve Eason
clips from Colorado immigration protests CC Unicorn Riot
clip Japanese politicians CC douga bubble
clip Disneyland opening CC Shatner Method
picture Orban & Putin CC Kremlin.ru
picture Helicopter money CC TGCP
Songs:
Ishikari Lore by Kevin MacLeod is licensed under a Creative Commons Attribution 4.0 license. https://creativecommons.org/licenses/by/4.0/
Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1100192
Artist: http://incompetech.com/
Further description:
While Japans economic might is still widely respected, it used to be the rising superstar of Asia. How did the economy of this Asian archipelago, which came so close to overtaking America as the number one economic superpower, end in deflation and stagnation?
I mean, by now it’s gotten so bad that the Bank of Japan, in a desperate attempt to turn this situation around, has bought up to 70% of government debt and has even become the biggest shareholder of corporate Japan.
This mini-documentary covers the period from 1979 till 2021 and spans Japan's asset bubble decade (featuring window guidance and the housing + stock bubble) as well as the three following decades that were characterized by debt-deflation and a banking crisis, the inflation expectations trap and population decline, respectively. It also has a critical look at Abenomics (from prime minister Shinzo Abe) and contains recommendations for the future of the Japanese economy.….
active
The Economy of Denmark: is the Krone in Trouble?
The Krone is issued by the central bank of Denmark (Danmarks [...]
The Krone is issued by the central bank of Denmark (Danmarks Nationalbank) and this video explores whether or not is has done a good job.
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Liked the in-depth research and want to help me do more? Consider buying me a coffee at https://ko-fi.com/moneymacro
△ For some extra benefits consider supporting me longer term on: https://www.patreon.com/moneymacro
△ Finally, for other one-time donations: https://www.paypal.com/donate?hosted_button_id=LTE3H3FUND37Y
△ Interested in other country economic case studies? https://www.youtube.com/playlist?list=PLGbVoSdwvesDNHLHmkZzvW2vuCfllJhpA
△ Want to know about central banking? https://www.youtube.com/playlist?list=PLGbVoSdwvesCIGv-sN7OiQLryj2f4bAGE
△ Interested in bubbles and asset markets? https://www.youtube.com/playlist?list=PLGbVoSdwvesD_W5OHSJ6J_j-RKeCxl0OS
5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo
Sources:
Check out the script for this video here: https://www.moneymacro.rocks/2021-03-05-monetary-economics-denmark/
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/
Extended description:
To answer the main question of this video, I explore the economy of Denmark through the lens of its exchange rate (and specifically it's peg to the Euro), inflation rate, GDP growth, and financial stability issues such as: housing bubbles, government and private debt levels, asset prices, and current account imbalances. I will compare its record to neighboring economies such as those of Norway, Sweden, Finland and Germany. Finally, I will review whether current monetary policy measures such as interest rate policy, quantitative easing and the exchange rate peg are sustainable.….
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Liked the in-depth research and want to help me do more? Consider buying me a coffee at https://ko-fi.com/moneymacro
△ For some extra benefits consider supporting me longer term on: https://www.patreon.com/moneymacro
△ Finally, for other one-time donations: https://www.paypal.com/donate?hosted_button_id=LTE3H3FUND37Y
△ Interested in other country economic case studies? https://www.youtube.com/playlist?list=PLGbVoSdwvesDNHLHmkZzvW2vuCfllJhpA
△ Want to know about central banking? https://www.youtube.com/playlist?list=PLGbVoSdwvesCIGv-sN7OiQLryj2f4bAGE
△ Interested in bubbles and asset markets? https://www.youtube.com/playlist?list=PLGbVoSdwvesD_W5OHSJ6J_j-RKeCxl0OS
5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo
Sources:
Check out the script for this video here: https://www.moneymacro.rocks/2021-03-05-monetary-economics-denmark/
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/
Extended description:
To answer the main question of this video, I explore the economy of Denmark through the lens of its exchange rate (and specifically it's peg to the Euro), inflation rate, GDP growth, and financial stability issues such as: housing bubbles, government and private debt levels, asset prices, and current account imbalances. I will compare its record to neighboring economies such as those of Norway, Sweden, Finland and Germany. Finally, I will review whether current monetary policy measures such as interest rate policy, quantitative easing and the exchange rate peg are sustainable.….
active
How this Algorithm Predicted the Bitcoin 2021 Bubble
Was Bitcoin a bubble in the winter of 2021? I decided to ask a famous [...]
Was Bitcoin a bubble in the winter of 2021? I decided to ask a famous bubble detection algorithm that question.... In this video, I'll tell you what it came up with and why.
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Consider supporting me on: https://www.patreon.com/moneymacro
△ Consider buying me a coffee at https://ko-fi.com/moneymacro
△ Or for one-time donations: https://www.paypal.com/donate?hosted_button_id=9JRG5URQ9KEHS
5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo
The paper algorithm was developed by Peter C. B. Phillips, Shuping Shi, and Jun Yu. The paper describing it can be found here: https://onlinelibrary.wiley.com/doi/abs/10.1111/iere.12132
For the calculations, I used this R package: https://github.com/itamarcaspi/psymonitor
Then, I ran it on weekly Bitcoin (close) prices between 2014 and 2021 collected from Coindesk.
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/….
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Consider supporting me on: https://www.patreon.com/moneymacro
△ Consider buying me a coffee at https://ko-fi.com/moneymacro
△ Or for one-time donations: https://www.paypal.com/donate?hosted_button_id=9JRG5URQ9KEHS
5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo
The paper algorithm was developed by Peter C. B. Phillips, Shuping Shi, and Jun Yu. The paper describing it can be found here: https://onlinelibrary.wiley.com/doi/abs/10.1111/iere.12132
For the calculations, I used this R package: https://github.com/itamarcaspi/psymonitor
Then, I ran it on weekly Bitcoin (close) prices between 2014 and 2021 collected from Coindesk.
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/….
active
The Balance of Payments Explained
To deal with international transactions and financial flows, [...]
To deal with international transactions and financial flows, economists use the Balance of Payments framework. In this video, I'll give you an introduction to that framework and show you what the two main variables are that I study: current account balances, and gross capital flows.
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Liked the in-depth research and want to help me do more? Consider buying me a coffee at https://ko-fi.com/moneymacro
△ For some extra benefits consider supporting me longer term on: https://www.patreon.com/moneymacro
△ Finally, for other one-time donations: https://www.paypal.com/donate?hosted_button_id=9JRG5URQ9KEHS
5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo
To understand the effects of globalization, using the standard measurement, gross domestic product, or GDP for short, is not enough. The balance of payments framework complements GDP and is essential for any serious macro-economist. It consists of a current account (which tracks transactions that result from trade, services, wages, interest, remittances etc.) and a capital & financial account (which mostly track investment transactions such as FDI and portfolio flows).
Economists typically first look at the net position on the current account to see if there are large trade imbalances and money flows needed to finance them. After that, they add all incoming and outgoing capital flows to check if if local asset bubbles might be financed largely by offshore financial centers.
Want to know more? Watch the video, or read it all in the script here: https://www.moneymacro.rocks/blog/
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/….
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Liked the in-depth research and want to help me do more? Consider buying me a coffee at https://ko-fi.com/moneymacro
△ For some extra benefits consider supporting me longer term on: https://www.patreon.com/moneymacro
△ Finally, for other one-time donations: https://www.paypal.com/donate?hosted_button_id=9JRG5URQ9KEHS
5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo
To understand the effects of globalization, using the standard measurement, gross domestic product, or GDP for short, is not enough. The balance of payments framework complements GDP and is essential for any serious macro-economist. It consists of a current account (which tracks transactions that result from trade, services, wages, interest, remittances etc.) and a capital & financial account (which mostly track investment transactions such as FDI and portfolio flows).
Economists typically first look at the net position on the current account to see if there are large trade imbalances and money flows needed to finance them. After that, they add all incoming and outgoing capital flows to check if if local asset bubbles might be financed largely by offshore financial centers.
Want to know more? Watch the video, or read it all in the script here: https://www.moneymacro.rocks/blog/
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/….
active
How Exchange Rates Are Determined
The prices of currencies are one of the most tricky subjects in [...]
The prices of currencies are one of the most tricky subjects in economics. When will a currency appreciate, and when will it depreciate?
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Liked the in-depth research and want to help me do more? Consider buying me a coffee at https://ko-fi.com/moneymacro
△ For some extra benefits consider supporting me longer term on: https://www.patreon.com/moneymacro
△ Finally, for other one-time donations: https://www.paypal.com/donate?hosted_button_id=9JRG5URQ9KEHS
5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo
Of course, this depends on supply and demand in foreign exchange markets. But, what determines this? There are two major theories in economics that try to explain this. The first is purchasing power parity and the second is interest rate parity. In this video, I discuss both as well as highlight the role of arbitrage and expectations.
Want to know more? Watch the video, or read it all in the script here: https://www.moneymacro.rocks/blog/
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/….
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Liked the in-depth research and want to help me do more? Consider buying me a coffee at https://ko-fi.com/moneymacro
△ For some extra benefits consider supporting me longer term on: https://www.patreon.com/moneymacro
△ Finally, for other one-time donations: https://www.paypal.com/donate?hosted_button_id=9JRG5URQ9KEHS
5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo
Of course, this depends on supply and demand in foreign exchange markets. But, what determines this? There are two major theories in economics that try to explain this. The first is purchasing power parity and the second is interest rate parity. In this video, I discuss both as well as highlight the role of arbitrage and expectations.
Want to know more? Watch the video, or read it all in the script here: https://www.moneymacro.rocks/blog/
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/….
active
Why Financial Globalization is Under Fire
Want to help me do more research? Consider supporting via: [...]
Want to help me do more research? Consider supporting via: https://www.patreon.com/moneymacro or https://ko-fi.com/moneymacro
△ Or for one-time donations: https://www.paypal.com/donate?hosted_button_id=LTE3H3FUND37Y
5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo
In these last decades, finance has become truly global. This has a lot of benefits. But, it is also important to understand the four drawbacks of international capital flows.
This video explores the following questions: have countries been right to open the door to international investors? or was it a mistake? And, if it was a mistake, what can they do to limit harmful effects of financial globalization?
This video has been inspired by work from economists at the bank for international settlements such as Claudio Borio as well as the work on the global financial cycle by Helene Rey.
The global financial cycle describes how asset prices worldwide move in tandem along with gross capital flows and monetary policy easing by the U.S. Federal Reserve. Central banks of small other countries will have no other option then to follow the U.S. central bank with their interest rates. This is how the classical trilemma turns into a dilemma.
Want to know more, I'm also using this video in a course that I am teaching at the University of Groningen called International Financial Markets that I teach with prof. Dirk Bezemer.
Also, check out the script for this video here: https://www.moneymacro.rocks/2021-02-04-global-financial-cycle/
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/….
△ Or for one-time donations: https://www.paypal.com/donate?hosted_button_id=LTE3H3FUND37Y
5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo
In these last decades, finance has become truly global. This has a lot of benefits. But, it is also important to understand the four drawbacks of international capital flows.
This video explores the following questions: have countries been right to open the door to international investors? or was it a mistake? And, if it was a mistake, what can they do to limit harmful effects of financial globalization?
This video has been inspired by work from economists at the bank for international settlements such as Claudio Borio as well as the work on the global financial cycle by Helene Rey.
The global financial cycle describes how asset prices worldwide move in tandem along with gross capital flows and monetary policy easing by the U.S. Federal Reserve. Central banks of small other countries will have no other option then to follow the U.S. central bank with their interest rates. This is how the classical trilemma turns into a dilemma.
Want to know more, I'm also using this video in a course that I am teaching at the University of Groningen called International Financial Markets that I teach with prof. Dirk Bezemer.
Also, check out the script for this video here: https://www.moneymacro.rocks/2021-02-04-global-financial-cycle/
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/….
active
Why Gamestop CRUSHED the Efficient Market Hypothesis
The gamestop stock explosion has mostly been told as a story of small [...]
The gamestop stock explosion has mostly been told as a story of small versus big investors. But, my take is that it was also a big win for behavioral finance by disproving the efficient market hypothesis.
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Consider supporting me on: https://www.patreon.com/moneymacro
△ Or for one-time donations: https://www.paypal.com/donate?hosted_button_id=9JRG5URQ9KEHS
The strict interpretation of the efficient market hypothesis states that because markets are so competitive the price should always roughly be equal to the expected value of future dividends. There can of course be small deviations but these are based on random factors ... or alternatively a fluctuating discount factor.
These arguments make no sense here. There is a clear cause effect behing a story / narrative and the price. I love this story. What do you think?
Attribution for thumbnail picture:
- CC BY 3.0 SA by Bentley Mall via Wikipedia….
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Consider supporting me on: https://www.patreon.com/moneymacro
△ Or for one-time donations: https://www.paypal.com/donate?hosted_button_id=9JRG5URQ9KEHS
The strict interpretation of the efficient market hypothesis states that because markets are so competitive the price should always roughly be equal to the expected value of future dividends. There can of course be small deviations but these are based on random factors ... or alternatively a fluctuating discount factor.
These arguments make no sense here. There is a clear cause effect behing a story / narrative and the price. I love this story. What do you think?
Attribution for thumbnail picture:
- CC BY 3.0 SA by Bentley Mall via Wikipedia….
active
Banks & Bubbles
The financial cycle refers to a co-movement between asset prices and [...]
The financial cycle refers to a co-movement between asset prices and bank lending. While asset bubbles can definitely emerge themselves (just look at the recent Gamestop and Bitcoin stories), thanks to positive feedback loops that are inherent to these markets, when the banks join in … you better hide because that’s when they can get truly dangerous.
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Consider supporting me on: https://www.patreon.com/moneymacro
△ Or for one-time donations: https://www.paypal.com/donate?hosted_button_id=9JRG5URQ9KEHS
5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo
There are two elements to the financial cycle story:
1) The first is that of rising asset prices, primarily houses, but also stocks.
2) And the second is that of rising debt to GDP. Or increased bank lending.
The biggest and most recent episode of a financial cycle happened in the United States and it started … right around 1996. In this year both the level of debt compared to the size of the economy (also known as credit to GDP) and inflation adjusted house prices started to pick up. And up and up they went. And as they went up… the people were happy, the sky seemed the limit. If you want to get rich, just buy a house.
And the banks? They were more than willing to lend. After all, if a borrower could not repay the loan, he or she could sell the house. Since the price could only go up, the house sale would always yield enough money to repay the loan….
Now at the same time, it so happened that the economy was doing really well. Even a big stock market crash in 2001 could not stop the party. After that stock prices also started to pick up until….. in 2006 house prices started dropping. Then in 2007 stock prices followed, and in 2008 everything came crashing down and the world faced its biggest banking crisis in a hundred years.
Currently banks are far better regulated and are less likely to have pumped up asset prices such as those of stocks like Tesla, and Nvidia, but also about crypto assets like Bitcoin and Ethereum.
This video has been inspired by work from economists at the Bank for International Settlements such as Claudio Borio. I'm also using it in a course that I am teaching at the University of Groningen called International Financial Markets that I teach with prof. Dirk Bezemer.
Want to know more? Watch the video, or read it all in the script here: https://www.moneymacro.rocks/2021-01-27-domestic-financial-cycle/
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/….
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Consider supporting me on: https://www.patreon.com/moneymacro
△ Or for one-time donations: https://www.paypal.com/donate?hosted_button_id=9JRG5URQ9KEHS
5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo
There are two elements to the financial cycle story:
1) The first is that of rising asset prices, primarily houses, but also stocks.
2) And the second is that of rising debt to GDP. Or increased bank lending.
The biggest and most recent episode of a financial cycle happened in the United States and it started … right around 1996. In this year both the level of debt compared to the size of the economy (also known as credit to GDP) and inflation adjusted house prices started to pick up. And up and up they went. And as they went up… the people were happy, the sky seemed the limit. If you want to get rich, just buy a house.
And the banks? They were more than willing to lend. After all, if a borrower could not repay the loan, he or she could sell the house. Since the price could only go up, the house sale would always yield enough money to repay the loan….
Now at the same time, it so happened that the economy was doing really well. Even a big stock market crash in 2001 could not stop the party. After that stock prices also started to pick up until….. in 2006 house prices started dropping. Then in 2007 stock prices followed, and in 2008 everything came crashing down and the world faced its biggest banking crisis in a hundred years.
Currently banks are far better regulated and are less likely to have pumped up asset prices such as those of stocks like Tesla, and Nvidia, but also about crypto assets like Bitcoin and Ethereum.
This video has been inspired by work from economists at the Bank for International Settlements such as Claudio Borio. I'm also using it in a course that I am teaching at the University of Groningen called International Financial Markets that I teach with prof. Dirk Bezemer.
Want to know more? Watch the video, or read it all in the script here: https://www.moneymacro.rocks/2021-01-27-domestic-financial-cycle/
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/….
active
Who is Janet Yellen? The 2021 U.S. Treasury Secretary
Treasury secretary of the United States of America, the most powerful [...]
Treasury secretary of the United States of America, the most powerful job in finance. And the next person to do it will be Janet Yellen. So, it is important to understand what she is all about.
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Consider supporting me on: https://www.patreon.com/moneymacro
△ Or for one-time donations: https://www.paypal.com/donate?hosted_button_id=9JRG5URQ9KEHS
5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo
Ascending to the financial throne after Steve Mnuchin, Yellen will be responsible for U.S. economic policy, tax policy, fiscal policy, as well as managing government debt. Obviously, this is a key position for those of you living in the United States. But, it’s also key for those outside of it because of the massive role the Dollar and U.S. economy play in the global economy. After all, stimulus in the U.S. often leads to higher exports in the rest of the world.
So, with Janet Yellen being confirmed by the senate shortly (her confirmation hearing is on the 19th of January), it makes sense that you wonder who is Janet Yellen? What are her qualifications? And, most importantly, what can we expect from her tenure as Treasury secretary?
Yellen has a super impressive CV. She has a PhD from Yale, where she had some Nobel winning supervisors such as James Tobin and Joseph Stiglitz. Next, she worked at elite universities such as Harvard, the London School of Economics (LSE) and University of California Berkeley. Also, she served on several government advisory boards and was local chairwoman at the San Francisco Fed, vice chairwoman and later chairwoman at the Fed. Finally, she has published (partly co-authored with her Nobel winning husband George Akerlof) in elite journals such as the American Economic Review, Quarterly Journal of Economics, and the Journal of Monetary Economics.
She is a Keynesian economist with dovish views on the monetary policy and a tough on big business streak. But, will she be a dovish Treasury secretary as well?
Check out the full script at https://www.moneymacro.rocks/2021-01-19-yellen-treasury-secretary/
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-sch...
Attribution:
- Brown university from Official YouTube channel Creative Common license
- Brookings institute from: Millennial Monitor YouTube channel Creative Common license….
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Consider supporting me on: https://www.patreon.com/moneymacro
△ Or for one-time donations: https://www.paypal.com/donate?hosted_button_id=9JRG5URQ9KEHS
5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo
Ascending to the financial throne after Steve Mnuchin, Yellen will be responsible for U.S. economic policy, tax policy, fiscal policy, as well as managing government debt. Obviously, this is a key position for those of you living in the United States. But, it’s also key for those outside of it because of the massive role the Dollar and U.S. economy play in the global economy. After all, stimulus in the U.S. often leads to higher exports in the rest of the world.
So, with Janet Yellen being confirmed by the senate shortly (her confirmation hearing is on the 19th of January), it makes sense that you wonder who is Janet Yellen? What are her qualifications? And, most importantly, what can we expect from her tenure as Treasury secretary?
Yellen has a super impressive CV. She has a PhD from Yale, where she had some Nobel winning supervisors such as James Tobin and Joseph Stiglitz. Next, she worked at elite universities such as Harvard, the London School of Economics (LSE) and University of California Berkeley. Also, she served on several government advisory boards and was local chairwoman at the San Francisco Fed, vice chairwoman and later chairwoman at the Fed. Finally, she has published (partly co-authored with her Nobel winning husband George Akerlof) in elite journals such as the American Economic Review, Quarterly Journal of Economics, and the Journal of Monetary Economics.
She is a Keynesian economist with dovish views on the monetary policy and a tough on big business streak. But, will she be a dovish Treasury secretary as well?
Check out the full script at https://www.moneymacro.rocks/2021-01-19-yellen-treasury-secretary/
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-sch...
Attribution:
- Brown university from Official YouTube channel Creative Common license
- Brookings institute from: Millennial Monitor YouTube channel Creative Common license….
active
How Quantitative Easing Differs from Money Printing | QE Explained
No! Quantitative Easing (QE) is not the same as money printing. This [...]
No! Quantitative Easing (QE) is not the same as money printing. This video explains exactly what the meaning of quantitative easing is and what the differences are with money printing.
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Consider supporting me on: https://www.patreon.com/moneymacro
△ Or for one-time donations: https://www.paypal.com/donate?hosted_button_id=9JRG5URQ9KEHS
5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo
△ Want to know more about central banking? Check out the playlist: https://www.youtube.com/playlist?list=PLGbVoSdwvesCIGv-sN7OiQLryj2f4bAGE
△ Check out how I use these principles to study country economies: https://www.youtube.com/playlist?list=PLGbVoSdwvesDNHLHmkZzvW2vuCfllJhpA
Want to know more? Watch the video, or read it all in the script here: https://www.moneymacro.rocks/2021-01-13-qe-explained/
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/
Timestamps:
0:00 - introduction
1:01 - what QE is
1:48 - the two main differences
3:48 - why central bankers use QE
Extended description:
In 2021, we can safely say that QE has become a staple in the monetary policy toolkit of central banks such as the United States Federal Reserve (fed), European Central Bank (ECB), Bank of England, and the Bank of Japan. This policy is also known as large scale asset purchases (and monetary easing). This makes sense because this is basically what happens. However, since the central bank is doing it, new bank reserves are created to buy these bonds. The central bank thus expands it balance sheet and, since reserves are money, it increases the money supply. However, with money printing, the central bank creates notes & coins, not reserves. This is important because reserves can only be used by banks. Also, the central bank takes government (and sometimes corporate) bonds out of circulation with QE. Since bonds are also used by financial institutions to pay each other (in repo markets), it could be that effectively the money supply doesn't change much.….
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Consider supporting me on: https://www.patreon.com/moneymacro
△ Or for one-time donations: https://www.paypal.com/donate?hosted_button_id=9JRG5URQ9KEHS
5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo
△ Want to know more about central banking? Check out the playlist: https://www.youtube.com/playlist?list=PLGbVoSdwvesCIGv-sN7OiQLryj2f4bAGE
△ Check out how I use these principles to study country economies: https://www.youtube.com/playlist?list=PLGbVoSdwvesDNHLHmkZzvW2vuCfllJhpA
Want to know more? Watch the video, or read it all in the script here: https://www.moneymacro.rocks/2021-01-13-qe-explained/
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/
Timestamps:
0:00 - introduction
1:01 - what QE is
1:48 - the two main differences
3:48 - why central bankers use QE
Extended description:
In 2021, we can safely say that QE has become a staple in the monetary policy toolkit of central banks such as the United States Federal Reserve (fed), European Central Bank (ECB), Bank of England, and the Bank of Japan. This policy is also known as large scale asset purchases (and monetary easing). This makes sense because this is basically what happens. However, since the central bank is doing it, new bank reserves are created to buy these bonds. The central bank thus expands it balance sheet and, since reserves are money, it increases the money supply. However, with money printing, the central bank creates notes & coins, not reserves. This is important because reserves can only be used by banks. Also, the central bank takes government (and sometimes corporate) bonds out of circulation with QE. Since bonds are also used by financial institutions to pay each other (in repo markets), it could be that effectively the money supply doesn't change much.….
active
The Pandemic Economics of Taiwan | a Corona Miracle?
In the year of the great Covid-19 pandemic, the economy of Taiwan grew [...]
In the year of the great Covid-19 pandemic, the economy of Taiwan grew by a whopping 2%. How did they do it?
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Consider supporting me on: https://www.patreon.com/moneymacro
△ Or for one-time donations: https://www.paypal.com/donate?hosted_button_id=9JRG5URQ9KEHS
On the 31st of December 2019, when the news started coming in that a new Coronavirus had emerged in Wuhan, China, the Taiwanese government acted swiftly by monitoring all incoming passengers and especially those from Wuhan and later Italy. While Europeans were still skiing and partying in Northern Italy, the Taiwanese government closed borders, started mass testing, mass masking, and checking if infected individuals actually went into quarantine. As a result, they never needed a lockdown.
So, since there was never a complete lockdown, does that mean there was no impact on the Taiwanese economy at all? Not quite.
Check out the full script for this video here: https://www.moneymacro.rocks/2021-01-06-taiwan-economic-covid-miracle/
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/….
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Consider supporting me on: https://www.patreon.com/moneymacro
△ Or for one-time donations: https://www.paypal.com/donate?hosted_button_id=9JRG5URQ9KEHS
On the 31st of December 2019, when the news started coming in that a new Coronavirus had emerged in Wuhan, China, the Taiwanese government acted swiftly by monitoring all incoming passengers and especially those from Wuhan and later Italy. While Europeans were still skiing and partying in Northern Italy, the Taiwanese government closed borders, started mass testing, mass masking, and checking if infected individuals actually went into quarantine. As a result, they never needed a lockdown.
So, since there was never a complete lockdown, does that mean there was no impact on the Taiwanese economy at all? Not quite.
Check out the full script for this video here: https://www.moneymacro.rocks/2021-01-06-taiwan-economic-covid-miracle/
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/….
active
The Monetary Economy of Ancient Athens
Want to help me do more research? Consider supporting via: [...]
Want to help me do more research? Consider supporting via: https://www.patreon.com/moneymacro or https://ko-fi.com/moneymacro
The silver Drachmae was basically the dollar of the Ancient Mediterranean and Ancient Greece in general. Want to know why? Then, check out this video.
△ Interested in other country economic case studies? https://www.youtube.com/playlist?list=PLGbVoSdwvesDNHLHmkZzvW2vuCfllJhpA
△ Want to know about central banking? https://www.youtube.com/playlist?list=PLGbVoSdwvesCIGv-sN7OiQLryj2f4bAGE
△ Interested in bubbles and asset markets? https://www.youtube.com/playlist?list=PLGbVoSdwvesD_W5OHSJ6J_j-RKeCxl0OS
5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo
The script for this video can be found here:
https://www.moneymacro.rocks/2020-12-30-ancient-athens-finance/
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/
Attribution:
- Ricardo Liberato - All Gizah Pyramids CC BY-SA 2
- Song: Desert City by Kevin MacLeod is licensed under a Creative Commons Attribution 4.0 license. https://creativecommons.org/licenses/by/4.0/
Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1100564
Artist: http://incompetech.com/
Extended description:
Besides the rise of the Athenian 'owl coin,' this video covers money in Mesopotamia, the government, treasury and mint of Athens, private banking, finance (with an emphasis on ship finance), as well as financial law in Ancient Athens. Basically, it covers the entire financial monetary system of this awesome city state that monetarily dominated the Ancient Greek world.….
The silver Drachmae was basically the dollar of the Ancient Mediterranean and Ancient Greece in general. Want to know why? Then, check out this video.
△ Interested in other country economic case studies? https://www.youtube.com/playlist?list=PLGbVoSdwvesDNHLHmkZzvW2vuCfllJhpA
△ Want to know about central banking? https://www.youtube.com/playlist?list=PLGbVoSdwvesCIGv-sN7OiQLryj2f4bAGE
△ Interested in bubbles and asset markets? https://www.youtube.com/playlist?list=PLGbVoSdwvesD_W5OHSJ6J_j-RKeCxl0OS
5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo
The script for this video can be found here:
https://www.moneymacro.rocks/2020-12-30-ancient-athens-finance/
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/
Attribution:
- Ricardo Liberato - All Gizah Pyramids CC BY-SA 2
- Song: Desert City by Kevin MacLeod is licensed under a Creative Commons Attribution 4.0 license. https://creativecommons.org/licenses/by/4.0/
Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1100564
Artist: http://incompetech.com/
Extended description:
Besides the rise of the Athenian 'owl coin,' this video covers money in Mesopotamia, the government, treasury and mint of Athens, private banking, finance (with an emphasis on ship finance), as well as financial law in Ancient Athens. Basically, it covers the entire financial monetary system of this awesome city state that monetarily dominated the Ancient Greek world.….
active
The Monetary Economy of Cyberpunk | why Eurodollars?
Night City, a free city in California, uses Eurodollars rather than [...]
Night City, a free city in California, uses Eurodollars rather than U.S. Dollars... Why? That is the question we will try to answer in this video about the lore of the Cyberpunk 2077 universe.
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Consider supporting me on: https://www.patreon.com/moneymacro
△ Or for one-time donations: https://www.paypal.com/donate?hosted_button_id=9JRG5URQ9KEHS
△ Interested in other country economic case studies? https://www.youtube.com/playlist?list=PLGbVoSdwvesDNHLHmkZzvW2vuCfllJhpA
△ Want to know about central banking? https://www.youtube.com/playlist?list=PLGbVoSdwvesCIGv-sN7OiQLryj2f4bAGE
△ Interested in bubbles and asset markets? https://www.youtube.com/playlist?list=PLGbVoSdwvesD_W5OHSJ6J_j-RKeCxl0OS
Like to read? Check out the script of this video here: https://www.moneymacro.rocks/2020-12-21-why-eddies-cyberpunk/
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/
Attribution
- Maastricht Treaty CC BY 2.0 de by Mateus2019
- Maastricht city CC BY-SA 3.0 by Arne Hückelheim
- Foto Monrovia, Liberia CC BY 2.0 Erik (HASH) Hershman
- Photo Yanis Varoufakis, CC-BA- 3.0-de by Olaf Kosinsky
- Background music and game images by CD Project Red
Extended description:
To answer the main question, this video first explores what are Eddies are and how they defeated the once mighty U.S. dollar, to become the world reserve currency. This already happened way before Cyberpunk 2077, Cyberpunk 2020 and Cyberpunk Red, created by Mike Pondsmith. Finally, we'll explore why Night City would use this European currency and how it compares to real life counterparts such as Hong Kong, Panama, and Liberia.….
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Consider supporting me on: https://www.patreon.com/moneymacro
△ Or for one-time donations: https://www.paypal.com/donate?hosted_button_id=9JRG5URQ9KEHS
△ Interested in other country economic case studies? https://www.youtube.com/playlist?list=PLGbVoSdwvesDNHLHmkZzvW2vuCfllJhpA
△ Want to know about central banking? https://www.youtube.com/playlist?list=PLGbVoSdwvesCIGv-sN7OiQLryj2f4bAGE
△ Interested in bubbles and asset markets? https://www.youtube.com/playlist?list=PLGbVoSdwvesD_W5OHSJ6J_j-RKeCxl0OS
Like to read? Check out the script of this video here: https://www.moneymacro.rocks/2020-12-21-why-eddies-cyberpunk/
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/
Attribution
- Maastricht Treaty CC BY 2.0 de by Mateus2019
- Maastricht city CC BY-SA 3.0 by Arne Hückelheim
- Foto Monrovia, Liberia CC BY 2.0 Erik (HASH) Hershman
- Photo Yanis Varoufakis, CC-BA- 3.0-de by Olaf Kosinsky
- Background music and game images by CD Project Red
Extended description:
To answer the main question, this video first explores what are Eddies are and how they defeated the once mighty U.S. dollar, to become the world reserve currency. This already happened way before Cyberpunk 2077, Cyberpunk 2020 and Cyberpunk Red, created by Mike Pondsmith. Finally, we'll explore why Night City would use this European currency and how it compares to real life counterparts such as Hong Kong, Panama, and Liberia.….
active
How Behavioral Economics Predicted Bitcoin 2020 was no Bubble
As an economist, I think the Bitcoin price rollercoaster has been one [...]
As an economist, I think the Bitcoin price rollercoaster has been one of the most interesting monetary experiments of this century! While last time was clearly a bubble, this time I do not think it is.
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Consider supporting me on: https://www.patreon.com/moneymacro
△ Or for one-time donations: https://www.paypal.com/donate?hosted_button_id=9JRG5URQ9KEHS
Like to read? Check out the script of this video here: https://www.moneymacro.rocks/2020-12-18-bitcoin-bubble/
One the clearest signs of a bubble is the presence of what Nobel Prize Winner Robert Shiller calls irrational exuberance. Meaning most people are extremely enthusiastic about the price of an asset and that the general sentiment is that it will only go up. In 2017, there was clearly irrational exuberance when it comes to cryptocurrency prices.
If asset prices have risen really quickly, that doesn’t mean we are in a bubble. After all, there could be fundamental reasons for why these prices have risen so much. For example, it could be the case that the central bank has purchased many assets, driving the fundamental price up by making financial assets (including digital currencies) scarcer.
This along with a fundamental value increase in Bitcoin is likely what is driving the price today.
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/
Attribution
- Peter Schiff's YouTube channel for his image
- Image of Rober Shiller by Presidential Office Building via Wikimedia CC-BA
- Fragment of the movie the Big Short by Paramount (check it out, great movie on bubbles!)….
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Consider supporting me on: https://www.patreon.com/moneymacro
△ Or for one-time donations: https://www.paypal.com/donate?hosted_button_id=9JRG5URQ9KEHS
Like to read? Check out the script of this video here: https://www.moneymacro.rocks/2020-12-18-bitcoin-bubble/
One the clearest signs of a bubble is the presence of what Nobel Prize Winner Robert Shiller calls irrational exuberance. Meaning most people are extremely enthusiastic about the price of an asset and that the general sentiment is that it will only go up. In 2017, there was clearly irrational exuberance when it comes to cryptocurrency prices.
If asset prices have risen really quickly, that doesn’t mean we are in a bubble. After all, there could be fundamental reasons for why these prices have risen so much. For example, it could be the case that the central bank has purchased many assets, driving the fundamental price up by making financial assets (including digital currencies) scarcer.
This along with a fundamental value increase in Bitcoin is likely what is driving the price today.
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/
Attribution
- Peter Schiff's YouTube channel for his image
- Image of Rober Shiller by Presidential Office Building via Wikimedia CC-BA
- Fragment of the movie the Big Short by Paramount (check it out, great movie on bubbles!)….
active
The Monetary Financial System Visually Explained
Visualization of the monetary financial system, which is built on [...]
Visualization of the monetary financial system, which is built on central bank money, thrives on private bank money, and is topped of with a large layer of other financial instruments.
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Consider supporting me on: https://www.patreon.com/moneymacro
△ Or for one-time donations: https://www.paypal.com/donate?hosted_button_id=9JRG5URQ9KEHS
This video builds on the academic theory which is known as the hierarchy of money. The main point of the hierarchy of money is that some forms of money are better than others. It is a theory that is very popular in post-Keynesian economics. It is also compatible with Modern Monetary Theory (MMT) since it includes money creation by both the private sector and the state.
When the economy is doing well, this hierarchy can be difficult to see. However, when there is a crisis, it will become immediately obvious that your hedge fund investments are better sold in exchange for private bank money. And when the going really gets tough, you might even be better off to run to your local bank and withdraw all of your money to walk home with a bag of cold hard cash (bank run).
I like to visualize the hierarchy of money as a circle where there is a monetary core of central bank money (including M1, M2, and M3 money, as well as reserves, that can either be created through money printing, monetary finance, or quantitative easing), a large monetary periphery of money created by private banks, and an even larger financial crust that contains all other financial instruments (such as those issued by shadow banks and money market mutual funds).
Using this visualization has helped me tremendously over the years to understand discussions in monetary and financial economics as well as international monetary systems. I hope it will do the same for you.
Want to read the script for this video? Check it out in the form of a blog post here: https://www.moneymacro.rocks/2020-12-09-money-system-visualized/
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/
Attribution:
- Photo of Hyman Minsky by Pontificador via Wikimedia Commons….
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Consider supporting me on: https://www.patreon.com/moneymacro
△ Or for one-time donations: https://www.paypal.com/donate?hosted_button_id=9JRG5URQ9KEHS
This video builds on the academic theory which is known as the hierarchy of money. The main point of the hierarchy of money is that some forms of money are better than others. It is a theory that is very popular in post-Keynesian economics. It is also compatible with Modern Monetary Theory (MMT) since it includes money creation by both the private sector and the state.
When the economy is doing well, this hierarchy can be difficult to see. However, when there is a crisis, it will become immediately obvious that your hedge fund investments are better sold in exchange for private bank money. And when the going really gets tough, you might even be better off to run to your local bank and withdraw all of your money to walk home with a bag of cold hard cash (bank run).
I like to visualize the hierarchy of money as a circle where there is a monetary core of central bank money (including M1, M2, and M3 money, as well as reserves, that can either be created through money printing, monetary finance, or quantitative easing), a large monetary periphery of money created by private banks, and an even larger financial crust that contains all other financial instruments (such as those issued by shadow banks and money market mutual funds).
Using this visualization has helped me tremendously over the years to understand discussions in monetary and financial economics as well as international monetary systems. I hope it will do the same for you.
Want to read the script for this video? Check it out in the form of a blog post here: https://www.moneymacro.rocks/2020-12-09-money-system-visualized/
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/
Attribution:
- Photo of Hyman Minsky by Pontificador via Wikimedia Commons….
active
The Economics Nobel Prize CONTROVERSY Explained
The Nobel memorial prize in economic sciences was the only prize not [...]
The Nobel memorial prize in economic sciences was the only prize not to be included in the will of Alfred Nobel. In a controversial move, it was created in 1968 by the Swedish central bank.
However, the Nobel science committee awards the prize and treats the economists who won it exactly the same as all other winners. This includes big names such as: Jan Tinbergen, Paul Samuelson, Kenneth Arrow, Wassily Leontief, Friedrich Hayek (who criticized the prize), Milton Friedman, Bertil Ohlin, James Tobin, Franco Modigliani, Robert Solow, John Forbes Nash, William Vickrey (see my previous video), Myron Scholes, Robert Mundell, George Akerlof, Joseph Stiglitz, Daniel Kahneman, Paul Krugman, Elinor Ostrom (the first woman to win the prize), Robert J. Shiller, Jean Tirole, Richard Thaler, William Nordhaus, Paul Romer, Abhijit Banerjee, Esther Duflo, and finally, this year Paul Milgrom, and Robert B. Wilson.
So what is so controversial about the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel?
Some have asked, why does economics need this extra prize. Other popular sciences like computer science and mathematics do not have one. Instead, they have the Turing prize and Fields medal respectively.
Some prominent economist like those associated with the Institute for New Economic Thinking see it as a ploy by the Swedish central bank to make central bank independence more credible.
One of the most scathing criticism comes from Peter Nobel, one of the descendants of Alfred Nobel. Peter has said that his great uncle Alfred despised people who cared more about profits than society’s well-being.
Want to read the script for this video? Check it out in the form of a blog post here: https://www.moneymacro.rocks/2020-11-24-auction-theory-3/
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/….
However, the Nobel science committee awards the prize and treats the economists who won it exactly the same as all other winners. This includes big names such as: Jan Tinbergen, Paul Samuelson, Kenneth Arrow, Wassily Leontief, Friedrich Hayek (who criticized the prize), Milton Friedman, Bertil Ohlin, James Tobin, Franco Modigliani, Robert Solow, John Forbes Nash, William Vickrey (see my previous video), Myron Scholes, Robert Mundell, George Akerlof, Joseph Stiglitz, Daniel Kahneman, Paul Krugman, Elinor Ostrom (the first woman to win the prize), Robert J. Shiller, Jean Tirole, Richard Thaler, William Nordhaus, Paul Romer, Abhijit Banerjee, Esther Duflo, and finally, this year Paul Milgrom, and Robert B. Wilson.
So what is so controversial about the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel?
Some have asked, why does economics need this extra prize. Other popular sciences like computer science and mathematics do not have one. Instead, they have the Turing prize and Fields medal respectively.
Some prominent economist like those associated with the Institute for New Economic Thinking see it as a ploy by the Swedish central bank to make central bank independence more credible.
One of the most scathing criticism comes from Peter Nobel, one of the descendants of Alfred Nobel. Peter has said that his great uncle Alfred despised people who cared more about profits than society’s well-being.
Want to read the script for this video? Check it out in the form of a blog post here: https://www.moneymacro.rocks/2020-11-24-auction-theory-3/
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/….
active
The 2020 Nobel Winning Simultaneous Multiple Round Auction Explained
In-depth look at how the 2020 Nobel prize was won with a revolutionary [...]
In-depth look at how the 2020 Nobel prize was won with a revolutionary new auction format to sell radio frequencies (spectrum auctions).
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Consider supporting me on: https://www.patreon.com/moneymacro
△ Or for one-time donations: https://www.paypal.com/donate?hosted_button_id=9JRG5URQ9KEHS
In 1994, two years before William Vickrey won his Nobel prize in auction theory, the United States Federal Communications Commission (FCC) had a big problem. If it wanted to use traditional auctions to sell all of its telecommunication frequency slots, this would either lead to giving away the licenses for free or ending up with a telecom monopoly. So, they asked a couple of brilliant young economists (Paul Milgrom & Robert Wilson) for help. They would come up with a Nobel Prize winning solution that is still the benchmark for 5g spectrum sales today: the Simultaneous Multiple Round Auction. They also came up with some more recent formats like the combinatorial clock auctions, but this will be the subject of another video.
Want to read the script for this video? Check it out in the form of a blog post here: https://www.moneymacro.rocks/2020-10-28-auction-theory-2/
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/
Attribution:
- Art auction CCA cyperion syndicate
- Cattle auction CCA Robert Smith
- Dutch fish auction CCA Oxlaey
- English art auction CCA Contemporary Art Fashion Slub Pop Kitsch
- Tour of the Electromagnetic Spectrum, CCA, Space Tube
Music
Airport Lounge - Disco Ultralounge by Kevin MacLeod is licensed under a Creative Commons Attribution 4.0 license. https://creativecommons.org/licenses/by/4.0/
Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1100806
Artist: http://incompetech.com/….
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Consider supporting me on: https://www.patreon.com/moneymacro
△ Or for one-time donations: https://www.paypal.com/donate?hosted_button_id=9JRG5URQ9KEHS
In 1994, two years before William Vickrey won his Nobel prize in auction theory, the United States Federal Communications Commission (FCC) had a big problem. If it wanted to use traditional auctions to sell all of its telecommunication frequency slots, this would either lead to giving away the licenses for free or ending up with a telecom monopoly. So, they asked a couple of brilliant young economists (Paul Milgrom & Robert Wilson) for help. They would come up with a Nobel Prize winning solution that is still the benchmark for 5g spectrum sales today: the Simultaneous Multiple Round Auction. They also came up with some more recent formats like the combinatorial clock auctions, but this will be the subject of another video.
Want to read the script for this video? Check it out in the form of a blog post here: https://www.moneymacro.rocks/2020-10-28-auction-theory-2/
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/
Attribution:
- Art auction CCA cyperion syndicate
- Cattle auction CCA Robert Smith
- Dutch fish auction CCA Oxlaey
- English art auction CCA Contemporary Art Fashion Slub Pop Kitsch
- Tour of the Electromagnetic Spectrum, CCA, Space Tube
Music
Airport Lounge - Disco Ultralounge by Kevin MacLeod is licensed under a Creative Commons Attribution 4.0 license. https://creativecommons.org/licenses/by/4.0/
Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1100806
Artist: http://incompetech.com/….
active
Auction Theory and Vickrey's 1996 Economics Nobel Prize Explained
In-depth look at what auction theory is, and how the 1996 Nobel prize [...]
In-depth look at what auction theory is, and how the 1996 Nobel prize was won by William Vickrey. It is the first part of a mini-series.
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Consider supporting me on: https://www.patreon.com/moneymacro
△ Or for one-time donations: https://www.paypal.com/donate?hosted_button_id=9JRG5URQ9KEHS
The Nobel prize in economic sciences went to auction theorists for the second time in 2020. This video is the first part of a mini-series that will also cover why Paul R. Milgrom and Robert B. Wilson won in 2020 (part 2), and why the prize is so controversial (part 3).
Auction game theory is the field that studies how people act in auctions and researches the properties of various auction markets, such as the Dutch Auction, Japanese Auction, English Auction, Sealed-bid auctions, and Vickrey (or second prize) auctions. The 1996 Nobel prize in economic sciences was awarded to William Vickrey for showing that the Vickrey auction in many cases leads to a superior outcome for both buyers --who can bid without fear of the winners curse-- and sellers --who are likely to get a better price as a result.
The script to this video can be found here in a blog post: https://www.moneymacro.rocks/2020-10-28-auction-theory-1/
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/
Attribution:
- star icon: artokem, CC0, via Wikimedia Commons
- Aalsmeer Flower Auction CCA Henk Bekker
- Art auction CCA cyperion syndicate
- Cattle auction CCA Robert Smith
- Dutch fish auction CCA Oxlaey
- DB videos cc Deutsche Bundesbank
- English art auction CCA Contemporary Art Fashion Slub Pop Kitsch….
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Consider supporting me on: https://www.patreon.com/moneymacro
△ Or for one-time donations: https://www.paypal.com/donate?hosted_button_id=9JRG5URQ9KEHS
The Nobel prize in economic sciences went to auction theorists for the second time in 2020. This video is the first part of a mini-series that will also cover why Paul R. Milgrom and Robert B. Wilson won in 2020 (part 2), and why the prize is so controversial (part 3).
Auction game theory is the field that studies how people act in auctions and researches the properties of various auction markets, such as the Dutch Auction, Japanese Auction, English Auction, Sealed-bid auctions, and Vickrey (or second prize) auctions. The 1996 Nobel prize in economic sciences was awarded to William Vickrey for showing that the Vickrey auction in many cases leads to a superior outcome for both buyers --who can bid without fear of the winners curse-- and sellers --who are likely to get a better price as a result.
The script to this video can be found here in a blog post: https://www.moneymacro.rocks/2020-10-28-auction-theory-1/
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/
Attribution:
- star icon: artokem, CC0, via Wikimedia Commons
- Aalsmeer Flower Auction CCA Henk Bekker
- Art auction CCA cyperion syndicate
- Cattle auction CCA Robert Smith
- Dutch fish auction CCA Oxlaey
- DB videos cc Deutsche Bundesbank
- English art auction CCA Contemporary Art Fashion Slub Pop Kitsch….
active
How to Print Money without Causing Inflation
While the risk of economic catastrophe in the form of inflation, [...]
While the risk of economic catastrophe in the form of inflation, stagflation, hyperinflation or asset price bubbles is real, money printing can be done responsibly.
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Consider supporting me on: https://www.patreon.com/moneymacro
△ Or for one-time donations: https://www.paypal.com/donate?hosted_button_id=9JRG5URQ9KEHS
△ Want to know more about central banking? Check out the playlist: https://www.youtube.com/playlist?list...
△ Check out how I use these principles to study country economies: https://www.youtube.com/playlist?list...
For a written version of this story check out: https://www.moneymacro.rocks/2020-10-19-money-printing/
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/
Extended description:
This video explores when money printing can be a viable economic strategy and when it will bring economic disaster. Money printing can help grow the economy, given that it is used to invest in productive capacity. Besides that, it can also be used to revive an economy that suffers a recession as a consequence of falling demand. However, if supply cannot keep up with the demand generated by printing, inflation of the consumer price index or of asset prices (in the form of demand pull inflation) is guaranteed.
Note that money printing is not the same as monetary finance or quantitative easing. It is also not something that modern central banks typically engage in under the monetary policy framework.….
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Consider supporting me on: https://www.patreon.com/moneymacro
△ Or for one-time donations: https://www.paypal.com/donate?hosted_button_id=9JRG5URQ9KEHS
△ Want to know more about central banking? Check out the playlist: https://www.youtube.com/playlist?list...
△ Check out how I use these principles to study country economies: https://www.youtube.com/playlist?list...
For a written version of this story check out: https://www.moneymacro.rocks/2020-10-19-money-printing/
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/
Extended description:
This video explores when money printing can be a viable economic strategy and when it will bring economic disaster. Money printing can help grow the economy, given that it is used to invest in productive capacity. Besides that, it can also be used to revive an economy that suffers a recession as a consequence of falling demand. However, if supply cannot keep up with the demand generated by printing, inflation of the consumer price index or of asset prices (in the form of demand pull inflation) is guaranteed.
Note that money printing is not the same as monetary finance or quantitative easing. It is also not something that modern central banks typically engage in under the monetary policy framework.….
active
The Top 5 Strictest Coronavirus Lockdowns (1st wave)
Think you have got it tough in lockdown? Be glad you do not live in [...]
Think you have got it tough in lockdown? Be glad you do not live in one of these countries right now. This video explores the the top five strictest, economy crushing, lockdowns. Hint, Italy did not make it to the list.
To make this top-5, I used the Oxford stringency index. You can find that here: https://www.bsg.ox.ac.uk/research/research-projects/coronavirus-government-response-tracker
For a written version of this story check out: http://www.moneymacro.rocks/2020-04-20-top-five-lockdowns/
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/
Copyright:
videos of Lebanon - cc International Crisis Group
videos of Rwandag - cc WODE MAYA
videos of Serbia - cc Marija Radakovic
videos of Guatemala - cc Richard's World Traveler
videos of SA winelands - cc Eye See Africa….
To make this top-5, I used the Oxford stringency index. You can find that here: https://www.bsg.ox.ac.uk/research/research-projects/coronavirus-government-response-tracker
For a written version of this story check out: http://www.moneymacro.rocks/2020-04-20-top-five-lockdowns/
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/
Copyright:
videos of Lebanon - cc International Crisis Group
videos of Rwandag - cc WODE MAYA
videos of Serbia - cc Marija Radakovic
videos of Guatemala - cc Richard's World Traveler
videos of SA winelands - cc Eye See Africa….
active
Monetary Finance Explained | the Latest Addition to the Monetary Policy Toolkit
The United Kingdom turned to monetary finance for its Coronacrisis [...]
The United Kingdom turned to monetary finance for its Coronacrisis spending. This is different from the standard Quantitative Easing approach. So, what exactly is monetary finance? Why has the UK started using it? And will it lead to inflation or even hyperinflation?
△ Want to know more about central banking? Check out the playlist: https://www.youtube.com/playlist?list=PLGbVoSdwvesCIGv-sN7OiQLryj2f4bAGE
△ Check out how I use these principles to study country economies: https://www.youtube.com/playlist?list=PLGbVoSdwvesDNHLHmkZzvW2vuCfllJhpA
For a written version of this story check out: http://www.moneymacro.rocks/2020-04-12-monetary-finance/
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/
If this topic has peaked your interest and you would like to know more about it. I've suggested some excellent readings below:
* Between Debt and the Devil by Adair Turner, great book on money and debt by one of the most prominent proponents of monetary finance.
* Monetary Finance is here by Adair Turner (The Daily Maverick: https://www.dailymaverick.co.za/opinionista/2020-04-21-monetary-finance-is-here/)
* Is monetary finance inflationary? by Josh Ryan-Collins (Levy Economics Institute Working Paper: http://www.levyinstitute.org/pubs/wp_848.pdf)
Extended description:
Monetary finance is the latest addition to the monetary policy toolkit of central banks. It is closely related to money printing and quantitative easing, but not quite the same. Theoretically monetary financing is much more efficient than letting the government borrow via the bond market to finance its fiscal policy spending. So why not do it all the time? Well this brings us to the problem with monetary financing. And that is not about doing it per se but more about is about doing it too much.
The problem is that it is too easy. Hence, it might tempt governments to do this too much. So much so that excess money creation will increase demand for goods and services while supply cannot keep up. That is when price start to skyrocket. This is why hyperinflation happened in Zimbabwe and Venezuela when the government started printing money to finance government expenditures.
However, central bankers have told us that this is just a temporary measure and they hope that investors believe them.
But, do we believe them?….
△ Want to know more about central banking? Check out the playlist: https://www.youtube.com/playlist?list=PLGbVoSdwvesCIGv-sN7OiQLryj2f4bAGE
△ Check out how I use these principles to study country economies: https://www.youtube.com/playlist?list=PLGbVoSdwvesDNHLHmkZzvW2vuCfllJhpA
For a written version of this story check out: http://www.moneymacro.rocks/2020-04-12-monetary-finance/
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/
If this topic has peaked your interest and you would like to know more about it. I've suggested some excellent readings below:
* Between Debt and the Devil by Adair Turner, great book on money and debt by one of the most prominent proponents of monetary finance.
* Monetary Finance is here by Adair Turner (The Daily Maverick: https://www.dailymaverick.co.za/opinionista/2020-04-21-monetary-finance-is-here/)
* Is monetary finance inflationary? by Josh Ryan-Collins (Levy Economics Institute Working Paper: http://www.levyinstitute.org/pubs/wp_848.pdf)
Extended description:
Monetary finance is the latest addition to the monetary policy toolkit of central banks. It is closely related to money printing and quantitative easing, but not quite the same. Theoretically monetary financing is much more efficient than letting the government borrow via the bond market to finance its fiscal policy spending. So why not do it all the time? Well this brings us to the problem with monetary financing. And that is not about doing it per se but more about is about doing it too much.
The problem is that it is too easy. Hence, it might tempt governments to do this too much. So much so that excess money creation will increase demand for goods and services while supply cannot keep up. That is when price start to skyrocket. This is why hyperinflation happened in Zimbabwe and Venezuela when the government started printing money to finance government expenditures.
However, central bankers have told us that this is just a temporary measure and they hope that investors believe them.
But, do we believe them?….
active
How Central Banks Control the Money Supply With Interest Rates
Want to help me do more research? Consider supporting via: [...]
Want to help me do more research? Consider supporting via: https://www.patreon.com/moneymacro or https://ko-fi.com/moneymacro
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ For some extra benefits consider supporting me longer term on: https://www.patreon.com/moneymacro
△ Liked the in-depth research and want to help me do more? Consider buying me a coffee at https://ko-fi.com/moneymacro
△ Finally, for other one-time donations: https://www.paypal.com/donate?hosted_button_id=LTE3H3FUND37Y
△ Want to know more about central banking? Check out the playlist: https://www.youtube.com/playlist?list=PLGbVoSdwvesCIGv-sN7OiQLryj2f4bAGE
△ Check out how I use these principles to study country economies: https://www.youtube.com/playlist?list=PLGbVoSdwvesDNHLHmkZzvW2vuCfllJhpA
5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo
Many people think that the central bank primarily controls the money supply (M1, M2, M3). That used to be true. However, since the bulk of money creation is done by private banks, the central bank mainly controls their money creation by setting the short term interest rate (rbi policy rate, rbi repo rate, ecb deposit rate, fed funds rate, Bank of England base rate) on bank loans and on central bank reserves. This video builds on knowledge of how private banks create money. Check that out in my other video here: https://youtu.be/cDNSNX48Kmo
In most cases, monetary policy boils down to the following. Central bank set the interest rate on which all other rates are based. By doing so they try to control the amount of money circulating in the economy indirectly by making it more or less attractive for commercial banks to lend. Most central bankers change the interest rate as they try to control inflation. They will increase the interest if they believe the economy is overheating. This will lower inflation. They decrease the interest rate to spur the economy to grow faster which will lead to increased inflation.
Monetary policy via interest rates is part of the monetary policy toolkit of central banks. In addition to that central banks can engage in money printing, monetary finance, and quantitative easing. I have separate videos on each of these topics.
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/
Timestamps:
0:00 - introduction
0:47 - the price of money
5:23 - the quantity of money
8:50 - the goal of monetary policy
12:04 - monetary policy in practice
If this topic has peaked your interest and you would like to know more about it. I've suggested some excellent readings below:
* Big Debt Crises by Ray Dalio, great book on money and debt by one of the most well known macro hedge fund managers.
* How Global Currencies Work: Past, Present, and Future by Barry Eichengreen, Arnaud Mehl, and Livia Chitu,, awesome book for a more international view.
* Modern Money Theory: A Primer on Macroeconomics for Sovereign Monetary Systems by L. Randall Wray, the go to introduction on modern monetary theory.
* Monetary Policy Transmission in a Macroeconomic Agent-Based Model by Schasfoort, Joeri; Bezemer, Dirk; Godin, Antoine; Kinsella, Stephen; Caiani, Alessandro (paper:https://www.rug.nl/research/portal/files/56663482/Schasfoort_Godin_Bezemer_Caiani_Kinsella_SOMWP_Final.pdf), provides an overview of the different channels of monetary policy transmission.
Attribution:
- OneWorld Trade Center cc Videvo
- BNP Paribas cc Waran3
- City at night cc Videvo
- Osijek, Empty street cc ddevcic1
- ECB videos cc European Central Bank
- DB videos cc Deutsche Bundesbank
- Tokyo footagage cc ANTi….
WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ For some extra benefits consider supporting me longer term on: https://www.patreon.com/moneymacro
△ Liked the in-depth research and want to help me do more? Consider buying me a coffee at https://ko-fi.com/moneymacro
△ Finally, for other one-time donations: https://www.paypal.com/donate?hosted_button_id=LTE3H3FUND37Y
△ Want to know more about central banking? Check out the playlist: https://www.youtube.com/playlist?list=PLGbVoSdwvesCIGv-sN7OiQLryj2f4bAGE
△ Check out how I use these principles to study country economies: https://www.youtube.com/playlist?list=PLGbVoSdwvesDNHLHmkZzvW2vuCfllJhpA
5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo
Many people think that the central bank primarily controls the money supply (M1, M2, M3). That used to be true. However, since the bulk of money creation is done by private banks, the central bank mainly controls their money creation by setting the short term interest rate (rbi policy rate, rbi repo rate, ecb deposit rate, fed funds rate, Bank of England base rate) on bank loans and on central bank reserves. This video builds on knowledge of how private banks create money. Check that out in my other video here: https://youtu.be/cDNSNX48Kmo
In most cases, monetary policy boils down to the following. Central bank set the interest rate on which all other rates are based. By doing so they try to control the amount of money circulating in the economy indirectly by making it more or less attractive for commercial banks to lend. Most central bankers change the interest rate as they try to control inflation. They will increase the interest if they believe the economy is overheating. This will lower inflation. They decrease the interest rate to spur the economy to grow faster which will lead to increased inflation.
Monetary policy via interest rates is part of the monetary policy toolkit of central banks. In addition to that central banks can engage in money printing, monetary finance, and quantitative easing. I have separate videos on each of these topics.
Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/
Timestamps:
0:00 - introduction
0:47 - the price of money
5:23 - the quantity of money
8:50 - the goal of monetary policy
12:04 - monetary policy in practice
If this topic has peaked your interest and you would like to know more about it. I've suggested some excellent readings below:
* Big Debt Crises by Ray Dalio, great book on money and debt by one of the most well known macro hedge fund managers.
* How Global Currencies Work: Past, Present, and Future by Barry Eichengreen, Arnaud Mehl, and Livia Chitu,, awesome book for a more international view.
* Modern Money Theory: A Primer on Macroeconomics for Sovereign Monetary Systems by L. Randall Wray, the go to introduction on modern monetary theory.
* Monetary Policy Transmission in a Macroeconomic Agent-Based Model by Schasfoort, Joeri; Bezemer, Dirk; Godin, Antoine; Kinsella, Stephen; Caiani, Alessandro (paper:https://www.rug.nl/research/portal/files/56663482/Schasfoort_Godin_Bezemer_Caiani_Kinsella_SOMWP_Final.pdf), provides an overview of the different channels of monetary policy transmission.
Attribution:
- OneWorld Trade Center cc Videvo
- BNP Paribas cc Waran3
- City at night cc Videvo
- Osijek, Empty street cc ddevcic1
- ECB videos cc European Central Bank
- DB videos cc Deutsche Bundesbank
- Tokyo footagage cc ANTi….
Загрузить ещё Видео
