tag:blogger.com,1999:blog-2761684730989137546.post8633804471013297308..comments2024-03-28T07:50:06.102-04:00Comments on Mike Norman Economics: Brian Romanchuk — Misunderestimating MMTmike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-2761684730989137546.post-20881161264649824712017-01-21T12:43:43.694-05:002017-01-21T12:43:43.694-05:00Well, I am now writing a book on SFC models (my b...Well, I am now writing a book on SFC models (my book on money is now in the hands of a copy editor), and I will probably discuss this from a technical point of view. It would be didficult to come up with a strong characterisation, but I will think about it.Brian Romanchukhttps://www.blogger.com/profile/02699198289421951151noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-48089527069721334582017-01-21T12:34:57.355-05:002017-01-21T12:34:57.355-05:00"Anything that causes such hoarding behaviour..."Anything that causes such hoarding behaviour to increase will increase government debt level while keeping "capacity utilisation" essentially the same."<br /><br />Brian maybe try to create a variable H or something that would quantify this phenom... <br /><br />If source spending flow was to be re-directed to a part of the system with lower H, then we could increase output with just the same source spending flow... <br /><br />Current situation is China has had a high H, so if we re-direct spending flow away from China we will probably see higher GDP with just break even leading govt spending flow...Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.com