- Miles’s presentation on negative interest rate policy begins right after the 35 minute mark.
- Eric Lonergan’s presentation on helicopter drops is right after MIles’s presentation, beginning not long after the 52 minute mark
- Q&A begins right after the 1 hour and 22 minute mark.
- Eric Lonergan’s answer in the Q&A begins at the 1 hour and 41 minute mark
- Miles’s answer in the Q&A begins 5 seconds before the 1 hour and 59 minute mark
I was invited to speak at an October 2, 2017 Bruegel conference with the title “Europe and Japan: Monetary Politicies in the Age of Uncertainty.” My presentation starts right after the 35 minute mark of the video above.
The great thing about this session was the Eric Lonergan’s advocacy of massive helicopter drops made my advocacy of deep negative interest rates as a key tool look moderate 🙂 For my views on helicopter drops, see my post “Helicopter Drops of Money Are Not the Answer.”
I think many of you, my readers, will find the parts of this video I bulleted above quite interesting. For example, for the Bruegel presentation, I boil down my views on negative interest rate policy to 17 minutes. For the 5-minute version, see my CEPR interview posted here in “How and Why to Eliminate the Zero Lower Bound: A Reader’s Guide.” For the 87-minute version, see “18 Misconceptions about Eliminating the Zero Lower Bound (or Any Lower Bound on Interest Rates): The Video.” (Those 87 minutes includes excellent Q&A. The video quality is tolerable, but not great.)
See Jan Musschoot’s blog post “Carrot or stick? The Lonergan-Kimball debate” based on what you see in the video above.
Also: I added some of Eric Lonergan’s tweets about the conference to the end of my story “Miles Kimball, Roger Farmer, Stephen Williamson and Joe Little on Recent Japanese Monetary Policy.”