The Empirical and Institutional Limits of Modern Money Theory

Autor:	Gerald Epstein
Rok vydání:	2020
Předmět:	Modern Monetary Theory Macroeconomics Economics and Econometrics Philosophy 050208 finance Full employment Exorbitant privilege 0502 economics and business 05 social sciences Monetary policy Economics 050207 economics Fiscal policy
Zdroj:	Review of Radical Political Economics. 52:772-780
ISSN:	1552-8502 0486-6134
DOI:	10.1177/0486613420912464
Popis:	Modern Money Theory (MMT) economists acknowledge a number of empirical and institutional limitations on the applicability of MMT to macroeconomic policy, but they have not attempted to explore these empirically nor have they adequately addressed their implications for MMT’s main macroeconomic policy proposals. This paper identifies some of these important limitations, including those stemming from modern international financial markets, and argues that they are much more binding on the policy applicability of MMT than many of MMT’s advocates appear to recognize.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::a8b992567ff4469614aeba581340f66c https://doi.org/10.1177/0486613420912464 Zobrazit plný text záznamu