Wednesday, 12 September 2012

The mysteries of money

John H. Cochrane and Harald Uhlig are interviewed by Gideon Magnus (Chicago PhD) at Morningstar. They talk about the foundations of money, fiscal theory, monetary policy, European debt problems, etc. About the video Cochrane writes
The video starts a little abruptly, as it left out Gideon's thoughtful introduction (it's in the Magazine) and framing question:
Gideon Magnus: I want to discuss the value of money and the idea that money is valued similarly to any other asset. Are there really assets backing money? If so, what are they? John, please explain.

The online version of the interview is here.

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