2025-11-17
51 分钟Welcome to Macro Musings,
where each week we pull back the curtain and take a closer look at the most important macroeconomic issues of the past,
present, and future.
I am your host, David Beckworth,
a Senior Research Fellow at the Mercatus Center at George Mason University,
and I'm glad you decided to join us.
Our guest today is Lucas Rachel.
Lucas is a former Bank of England economist and is now at the University College of London.
He has written widely on secular stagnation, R-star,
and monetary-fiscal interactions, and he joins us today to discuss them.
Lucas, welcome to the program.
Thank you for having me, David.
It's a great pleasure to be here.
It's great to have you on.
Now, when I first met you, it was back in January 2020.
And the warm and wonderful San Diego, it was the American Economic Association meetings.
And you and Larry Summers were presenting a paper and secular stagnation.
And I remember it so vividly because I was blown away by it.
And we're going to come back to it.
But one of the key claims you made in it is, man,