Econ Buff Podcast #11 with Ryan Mattson
Dr. Ryan Mattson talks with me about the macroeconomics of the novel coronavirus. We discuss what what the consequences of social distancing, work places shutting down, and banning large events are likely to be. Dr. Mattson gives his view on the severity of the GDP dip and frames it against the views of other mainstream economists. We talk about the nature of economic activity and coordination, examining how we think this impacts the depth and length of the recession and speed of recovery. We consider the ramifications of the social distancing, quarantines, and self isolation on consumer preferences and how business might operate in the future. We lay out the importance of price innovation and discuss why we are seeing less price gouging than we might have expected. We explore the value of personal interaction compared to digital interaction and how Dr. Mattson views the interconnected nature of economic activity.
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