The Argument for Qualitative Easing

The video discusses the differences between quantitative and qualitative easing, focusing on how changes in the Fed's balance sheet size and composition can impact the economy. It highlights the limitations of traditional macroeconomic models, which often assume a single decision-maker, and emphasizes the real-world implications of economic fluctuations on individuals, particularly in terms of lifetime earnings. The discussion includes insights from a UCLA study on the long-term income effects of starting a career during a recession.

What is the distinction between quantitative easing and qualitative easing?

Why is the assumption that people are born and die considered important in economic models?

How do Robinson Crusoe economies fail to accurately describe asset price data?

What implications does the fluctuation in asset markets have on individuals?

What did the study by UCLA economist Tilahun Victor reveal about job starts during recessions?