The perception of MMT is getting better, but it still has quite a way to go to get it right. The bright side is that some presentations are not just dismissive, but rather attempt to understand MMT and its usefulness in policy. This is one of the latter.
Action Forex
TD Bank Financial Group
See also
The Allure and Limits of Monetized Fiscal Deficits
See also
With the global economy experiencing a synchronized slowdown, any number of tail risks could bring on an outright recession. When that happens, policymakers will almost certainly pursue some form of central-bank-financed stimulus, regardless of whether the situation calls for it.Project Syndicate
The Allure and Limits of Monetized Fiscal Deficits
Nouriel Roubini | Professor of Economics at New York University's Stern School of Business, CEO of Roubini Macro Associates, and formerly Senior Economist for International Affairs in the White House’s Council of Economic Advisers during the Clinton Administration
Roubini's article is just waffle. He ends by saying "a semi-permanent monetization of fiscal deficits in the event of another downturn may or may not be the appropriate policy response".
ReplyDeleteSo is "monetization" an appropriate policy and if so, exactly when? He doesn't explain.
Yawn. Zzzzzzzzzz.
I just put an article on my site taking the p*ss out of that Roubini article....:-)
ReplyDeletehttps://ralphanomics.blogspot.com/2019/10/boring-inconclusive-waffle-from-nouriel.html
Needs more corn syrup?
ReplyDeleteCreation of the $100Bs of the Reserves is what caused the downturns in the first place... just adding more is only going to make it worse...
ReplyDelete