by Summary:
The recent internet debates about Modern Monetary Theory (MMT) have been interesting, but the various critics of MMT have largely missed the elephant in the room: automatic fiscal stabilisers. In my view (which may not reflect the official "MMT Party Line"), one of the keys strengths of MMT is that it is largely built around the importance of automatic stabilisers, and institutional details. The conventional view is to acknowledge the existence of automatic stabilisers, but otherwise pretend that they have no effect on the economy…. Bond Economics MMT And Automatic StabilizersBrian Romanchuk
Topics:
Mike Norman considers the following as important: automatic stabilization, currency sovereignty, fiscalism, inflation, inflation constraint, inflation control, Institutionalism, MMT
This could be interesting, too:
The recent internet debates about Modern Monetary Theory (MMT) have been interesting, but the various critics of MMT have largely missed the elephant in the room: automatic fiscal stabilisers. In my view (which may not reflect the official "MMT Party Line"), one of the keys strengths of MMT is that it is largely built around the importance of automatic stabilisers, and institutional details. The conventional view is to acknowledge the existence of automatic stabilisers, but otherwise pretend that they have no effect on the economy…. Bond Economics MMT And Automatic StabilizersBrian Romanchuk
Topics:
Mike Norman considers the following as important: automatic stabilization, currency sovereignty, fiscalism, inflation, inflation constraint, inflation control, Institutionalism, MMT
This could be interesting, too:
Matias Vernengo writes Inflation, real wages, and the election results
Merijn T. Knibbe writes ´Extra Unordinarily Persistent Large Otput Gaps´ (EU-PLOGs)
Jim Stanford writes Interrogating the ‘Vibecession’
Merijn T. Knibbe writes More ´Natural rate of unemployment´ busting, bad measurement edition.
The recent internet debates about Modern Monetary Theory (MMT) have been interesting, but the various critics of MMT have largely missed the elephant in the room: automatic fiscal stabilisers. In my view (which may not reflect the official "MMT Party Line"), one of the keys strengths of MMT is that it is largely built around the importance of automatic stabilisers, and institutional details. The conventional view is to acknowledge the existence of automatic stabilisers, but otherwise pretend that they have no effect on the economy….Bond Economics
MMT And Automatic Stabilizers
Brian Romanchuk