Chair of Monetary Policy
Contributor's Links: The Money Illusion

Scott Sumner is the Ralph G. Hawtrey Chair of Monetary Policy at the Mercatus Center at George Mason University.  He is also Professor Emeritus at Bentley University and Research Fellow at the Independent Institute. In his writing and research, Sumner specializes in monetary policy, the ... more

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Black Swans And Eels
When people discuss Fed policy during a financial crisis, there is often an implicit framing that portrays the central bank as a hero and the economy as a villain.
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Monetary Policy: Better To Expect Too Much Than Too Little
We simultaneously expect too much and too little of monetary policy. It’s better to expect too much.
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Price Flexibility Is Stabilizing
Nick Rowe has a post discussing the implications of price flexibility in a New Keynesian model. But I don’t believe these New Keynesian models accurately describe the economy.
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Tax Reform Is Now Boosting Measured GDP
Productivity in the US, especially in high tech industries, is higher than the reported figures. Until the recent tax reform, this problem had been getting worse over time.
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Good News; Chinese Defaults Are Rising Rapidly
If the Chinese government is serious about allowing debt defaults, it will reduce the incentive of investors to misallocate resources. This should make China’s economy more productive.
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What Would Real House Prices Look Like In A World Without Bubbles?
The Great Recession was not caused by the bursting of a housing bubble, because there was no bubble. It was caused by tight money.
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Latest Posts
Trump Didn’t Want An Investigation, He Wanted An “investigation”
I’m rather discouraged by the fact that so many people seem to accept at face value that Trump wanted the Ukraine to investigate Biden.
The Sad Decline Of American Democracy
Yes, lots of horrible things are also occurring in China, but Americans really do need to look in the mirror.

Work Experience

Ralph G. Hawtrey Chair of Monetary Policy
Mercatus Center at George Mason University​
2015 - Present (5 years 1 month)
Professor of Economics
Bentley University
1982 - 2015 (33 years 6 months)

Education

Wisconsin University
BA
Economics
Chicago University
PhD

Publications