Business Cycles, Inflation and Unemployment: An MMT perspective

Navaneeth M S

MPRA Paper from University Library of Munich, Germany

Abstract: Any modern economy faces the periodic tendency of fluctuations that disrupts the macroeconomic variables leading to massive downturns in economic activity- conceptualized as business cycles. This review article examines the countercyclical policies adopted by Central Banks during recessions in light of the various arguments laid out by Modern Monetary Theory (MMT). Finally, it also looks into the assumptions behind Phillips' curve and what MMT has to offer in terms of inflation targeting

Keywords: MMT; NAIRU; Phillip's Curve; Business Cycle (search for similar items in EconPapers)
JEL-codes: B50 (search for similar items in EconPapers)
Date: 2021-07
New Economics Papers: this item is included in nep-hme, nep-mon and nep-pke
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:115352

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