August 28, 2017

Macro Musings 72: Adam Millsap on Regional Business Cycles, State Fiscal Health, and Labor Mobility

Hosted by David Beckworth of the Mercatus Center, Macro Musings is a new podcast which pulls back the curtain on the important macroeconomic issues of the past, present, and future.

Adam Millsap is an assistant director at the L. Charles Hilton Center at Florida State University and a senior affiliated scholar at the Mercatus Center. Today, he joins the show to discuss how different regional economies can lead to business cycles at the regional and state levels, rather than the federal level. This creates difficulty for monetary policy at the federal level as looser monetary policy may be appropriate for states like West Virginia, but may not be appropriate for states like California. He and David also discuss the decline of inter-state labor mobility and how bad regulation deters people from moving to areas with better job prospects.