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 The second coming of Trumponomics
Lars Pålsson Syll writes Central bank independence — a convenient illusion
Merijn T. Knibbe writes How to deal with inflation?
NewDealdemocrat writes September consumer inflation: headline closing in on the Fed’s target
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