Arslan Razmi has released a working paper “MMT and Policy Assignment in an Open Economy Context: Simplicity is Useful, Oversimplifcation Not So Much.” It is a 27 page paper running through stability analysis of post-Keynesian models that allegedly tell us something about Modern Monetary Theory (MMT). In addition to having a condescending tone (as seen in the title of the paper), the analysis within the paper is not particularly impressive. In my view, Razmi has set up a straw man argument and then thrashes it vigorously. I have seen similar post-Keynesian articles in the past, so I did not spend much time digging into the details.Arslan Razmi has released a working paper “MMT and Policy Assignment in an Open Economy Context: Simplicity is Useful, Oversimplifcation Not So Much.” It is a 27 page paper running through stability analysis of post-Keynesian models that allegedly tell us something about Modern Monetary Theory (MMT). In addition to having a condescending tone (as seen in the title of the paper), the analysis within the paper is not particularly impressive. In my view, Razmi has set up a straw man argument and then thrashes it vigorously. I have seen similar post-Keynesian articles in the past, so I did not spend much time digging into the details....Bond Economics
Comments On "MMT And Policy Assignment..."
Brian Romanchuk
No comments:
Post a Comment