Money and the Public Debt | Session 2

We have two off weeks between The Evolution of Central Banks and The Repo Market We are taking this opportunity to discuss "Money and the Public Debt: Treasury Market Liquidity as a Legal Phenomenon" by Lev Menand and Joshua Younger.

https://scholarship.law.columbia.edu/faculty_scholarship/4093/

You can listen to the authors discuss their paper on a recent episode of the Macro Musings podcast.

https://www.mercatus.org/macro-musings/lev-menand-and-josh-younger-money-and-public-debt-treasury-market-liquidity-legal

This week, we wrap up discussing sections III through VI.

• Section III: The Turn to Secondary Markets: The Rise of the Primary Dealer System
• Section IV: The Decline and Fall of the Primary Dealer System
• Section V: A Money View of Treasury Market Reform
• Section VI: Conclusion