88 – Ricardo Caballero on the Safe Asset Conundrum

Ricardo J. Caballero is a professor of economics at MIT and is widely published in the fields of macroeconomics and international economics. Today, he joins the show to discuss his work on the “Safe Assets Shortage Conundrum” and why this is important to macroeconomic growth and stability. David’s blog: macromarketmusings.blogspot.com Macro Musings podcast site: macromusings.com David’s Twitter: @DavidBeckworth Ricardo Caballero’s MIT profile: https://economics.mit.edu/faculty/caball “The Safe Asset Shortage Conundrum” by Ricardo J. Caballero, Emmanuel Farhi, and Pierre-Olivier Gourinchas http://www.jstor.org/stable/44321278?seq=1#page_scan_tab_contents “Safe Asset Scarcity and Aggregate Demand” by Ricardo J. Caballero, Emmanuel Farhi, and Pierre-Olivier Gourinchas https://www.aeaweb.org/articles?id=10.1257/aer.p20161108 “On the Macroeconomics of Asset Shortages” by Ricardo J. Caballero http://www.nber.org/papers/w12753