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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The Yield Curve, Inverted
When unemployment falls to the natural rate, problems are almost always just around the corner.
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Why Is The Public Debt Situation In Italy Worse Than In Japan?
Japan’s public debt is much higher than in Italy, as a share of GDP (roughly 240% vs. 130%, though sources differ). The difference in net debt is not nearly as large, but still significant.
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The Fed’s Targeting The Wrong Forecast
The Fed is consistently missing its target in recent years because it is relying on a flawed (Keynesian) model, which bases its inflation forecasts on concepts such as the Phillips Curve.
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Brexit: The Issue Is The Issue
Brexit has split British society right down the middle. Yet Brexit is not a very important issue in substantive terms.
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Three Failures (MMT, Statism, Keynesianism) And A (Monetarist) Success
The Great Inflation lasted from 1966 through 1981, or perhaps the early 1990s if you wait until inflation had reached a roughly 2% trend. I’ll focus on 1982 as the traditional end date for the Great Inflation.
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We Are In An NGDP Factory
NGDP is not a very interesting variable, except when it shows short-run volatility. In that case, it destabilizes labor and financial markets, because there are lots of nominal wage and debt contracts.
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Work Experience

Ralph G. Hawtrey Chair of Monetary Policy
Mercatus Center at George Mason University​
2015 - Present (4 years 3 months)
Professor of Economics
Bentley University
1982 - 2015 (33 years 8 months)

Education

Wisconsin University
BA
Economics
Chicago University
PhD

Publications