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Seven replies to the critiques of Modern Money Theory
Tymoigne, Éric - 2021
Modern Money Theory (MMT) has generated considerable scrutiny and discussions over the past decade. While it has gained … the academic spectrum and from conservative political circles. MMT has been argued to be both fascist and communist … contradictory aspects of the range of criticisms suggest that there is at best a superficial understanding of the MMT framework. MMT …
Persistent link: https://www.econbiz.de/10012795769
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Money in finance
Wray, L. Randall - 2011
This paper begins by defining, and distinguishing between, money and finance, and addresses alternative ways of financing spending. We next examine the role played by financial institutions (e.g., banks) in the provision of finance. The role of government as both regulator of private...
Persistent link: https://www.econbiz.de/10008906555
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Money in Finance
Wray, L. Randall - 2011
This paper begins by defining, and distinguishing between, money and finance, and addresses alternative ways of financing spending. We next examine the role played by financial institutions (e.g., banks) in the provision of finance. The role of government as both regulator of private...
Persistent link: https://www.econbiz.de/10013128521
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Is monetary financing inflationary? : a case study of the Canadian economy, 1935 - 75
Ryan-Collins, Josh - 2015
Historically high levels of private and public debt coupled with already very low short-term interest rates appear to limit the options for stimulative monetary policy in many advanced economies today. One option that has not yet been considered is monetary financing by central banks to boost...
Persistent link: https://www.econbiz.de/10011389179
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Liquidity preference theory revisited : to ditch or to build on it?
Bibow, Jörg (contributor) - 2005
This paper revisits Keynes's liquidity preference theory as it evolved from the Treatise on Money to The General Theory and after, with a view of assessing the theory's ongoing relevance and applicability to issues of both monetary theory and policy. Contrary to the neoclassical "special case"...
Persistent link: https://www.econbiz.de/10003229836
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Is monetary financing inflationary? A case study of the Canadian economy, 1935 - 75
Ryan-Collins, Josh - 2015
Historically high levels of private and public debt coupled with already very low short-term interest rates appear to limit the options for stimulative monetary policy in many advanced economies today. One option that has not yet been considered is monetary financing by central banks to boost...
Persistent link: https://www.econbiz.de/10011545308
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Financial Keynesianism and market instability
Wray, L. Randall - 2011
In this paper I will follow Hyman Minsky in arguing that the postwar period has seen a slow transformation of the economy from a structure that could be characterized as "robust" to one that is "fragile". While many economists and policymakers have argued that "no one saw it coming", Minsky and...
Persistent link: https://www.econbiz.de/10008906576
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Alternative uses of functional finance : Lerner, MMT and the Sraffiansh
Summa, Ricardo de Figueiredo - 2022
finance from Lerner, MMT, and the Sraffians. First, we will argue that the general functional finance framework can be …, we use this separation to provide an alternative comparison between Lerner and the MMT to that proposed by Wray (2018 … three comparable 'toy models', by stressing the shared principles and specific disagreements between Lerner, MMT and the …
Persistent link: https://www.econbiz.de/10012939156
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Il circuito della moneta e il finanziamento dell'economia. Un'analisi teorica.
Cavalieri, Duccio - Volkswirtschaftliche Fakultät, … - 1999
This is a theoretical analysis of the role of money and other less liquid financial assets in the financing of the private sector of a market economy. It is concerned, basically, with the functional relations between households, firms, banks and other financial institutions, and with those...
Persistent link: https://www.econbiz.de/10011111080
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Net worth ratio and financial instability
Watanabe, Toshio - In: Journal of economic structures : JES; the official … 2 (2013), pp. 1-18
In order to better understand relationships between the real economy and financial economy, it is necessary to formulate a model of financing. New Keynesian theory emphasizes that a firm’s net worth influences investment decisions and business cycles under an imperfect capital market. We have...
Persistent link: https://www.econbiz.de/10009783369