August 29, 2023· 38 min

Barry Eichengreen on the New Era of High Government Debt

Barry Eichengreen

Orality

Model

83%

Oral-dominant (speeches, podcasts, storytelling)

Speaker Breakdown

HostJoe Weisenthal(1,401 words)

M:29%

HostTracy Alloway(2,233 words)

M:29%

GuestBarry Eichengreen(2,855 words)

M:29%

Oral Indicators

Agonistic22%

very, massive, obviously

Engagement64%

you, our, your

Memory Aids100%

listen, so, now

Repetition100%

like (92x), debt (59x), about (52x)

Parallelism84%

So why would I pay for stuff I..., And I'm Joe Weisenthal...., And I know that so much of the...

Sound Patterns85%

63 question(s), alliteration: "markets move", alliteration: "barclays brief"

Formulaic Phrases8%

you know what, i mean, if you will

Literate Indicators

Hedging10%

probably, maybe, might

Passive Voice5%

was placed, be debated, is passed

Abstract Nouns27%

investment, business, verizon.com/business

Subordination8%

because, therefore, until

Sentence Length40%

Avg: 15.1 words/sentence

Word Complexity50%

investment, analyze, anticipate

Academic Markers0%

Impersonal Style36%

473 personal pronouns found

Descriptive Style71%

exactly, apply, monthly

Description

In recent years, the absolute level of government debt around the world has risen dramatically. The Covid emergency unleashed a huge wave of public-sector spending in 2020 and beyond. Meanwhile, spending remains high for other reasons, including public investment on climate and energy-related issues. So what does that mean for policy going forward? What does it mean for central banks tasked with controlling inflation? University of California at Berkeley economist Barry Eichengreen presented a paper on exactly this topic at this year’s Jackson Hole Economic Symposium. On this episode, we speak with Eichengreen about his research, why it's of importance to central bankers, and what history says about the prospects for fiscal consolidation. See omnystudio.com/listener for privacy information.

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