Summary:
The essential claim of MMT is sovereign currency issuing governments, with flexible exchange rates and without foreign currency debt, are financially unconstrained. This paper analyzes the macroeconomic arguments behind that claim and shows they are suspect. MMT underestimates the economic costs and exaggerate the capabilities of deficit financed fiscal policy. Those analytic shortcomings render it ...
Topics:
tom considers the following as important: Economics, Political Economy, Uncategorized
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The essential claim of MMT is sovereign currency issuing governments, with flexible exchange rates and without foreign currency debt, are financially unconstrained. This paper analyzes the macroeconomic arguments behind that claim and shows they are suspect. MMT underestimates the economic costs and exaggerate the capabilities of deficit financed fiscal policy. Those analytic shortcomings render it […]
The essential claim of MMT is sovereign currency issuing governments, with flexible exchange rates and without foreign currency debt, are financially unconstrained. This paper analyzes the macroeconomic arguments behind that claim and shows they are suspect. MMT underestimates the economic costs and exaggerate the capabilities of deficit financed fiscal policy. Those analytic shortcomings render it ...
Topics:
tom considers the following as important: Economics, Political Economy, Uncategorized
This could be interesting, too:
Lars Pålsson Syll writes DSGE models — worse than useless
Lars Pålsson Syll writes DSGE models — a total waste of time
tom writes Gaza in context: past, present, & future
Lars Pålsson Syll writes DSGE models — a total waste of time