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2018
This chapter begins with an explanation of the three core statements, or axioms, at the heart of modern monetary theory: (1) monetary sovereign governments face no purely financial budget constraints; (2) all economies, and all governments, face real and ecological limits relating to what can be produced and consumed; and (3) the government’s financial
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This chapter begins with an explanation of the three core statements, or axioms, at the heart of modern monetary theory: (1) monetary sovereign governments face no purely financial budget constraints; (2) all economies, and all governments, face real and ecological limits relating to what can be produced and consumed; and (3) the government’s financial
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Historical retrospective of modern monetary theory
Экономика и предпринимательство, 2022В статье представлено описание результатов изучения особенностей современной монетарной теории через анализ ее исторической ретроспективы. Сторонники современной моне тарной теории описывают дефицит государственного бюджета как благоприятный, поскольку он соответствует «чистым сбережениям частного сектора». Противники считают, что фискальная экспансия,
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Revija za pravo i ekonomiju, 2005
This paper investigates and analyses the evolution of monetary theories, from classical theory toward the modern monetary theory of monetarism and theory of rational expectations. The most important thesis and conclusions of each theory are explained. The paper researches the relationship of newer theories with previous one, and the possible direction ...
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This paper investigates and analyses the evolution of monetary theories, from classical theory toward the modern monetary theory of monetarism and theory of rational expectations. The most important thesis and conclusions of each theory are explained. The paper researches the relationship of newer theories with previous one, and the possible direction ...
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Modern Monetary Theory: A Debate [PDF]
, 2012 This working paper presents a debate, which begins with Bret Fiebiger arguing that the approach to monetary and financial macroeconomics which terms itself "modern monetary theory” does not have sound analytic foundations and is of little relevance empirically. Scott Fullwiler, Stephanie Kelton and L.
Brett Fiebiger +3 more
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Network Analysis for Modern Monetary Theory
Journal of Economic Issues, 2013This article integrates Scott Fullwiller's two social fabric matrices for Federal Reserve and Treasury operations to help establish a number of results. First, the resulting network demonstrates that the components are involved in an intense, extensive, and complex network of interconnections.
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Modern Monetary Theory: The Bolshevik experiment
Economic AffairsAbstract In this article we present the monetary theory, known as the ‘Theory of the Emission Economy’, most fully formulated over a century ago by the Russian economist S. A. Falkner (1890–1938). It is strikingly reminiscent of Modern Monetary Theory.
Nenovsky, Nikolay, Dowd, Kevin
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