Soft Currency Economics

Warren Mosler

Macroeconomics from EconWPA

Abstract: This evolutionary paper traces the interaction of monetary and fiscal policy, assuming lag reserve accounting in a fiat monetary system. It illustrates: Sovereign debt functions as interest rate support. Taxes function to create a demand for federal spending. The myth of the money multiplier. Taxed advantaged savings plans create a need for deficit spending. Exports are the cost of imports.

JEL-codes: E (search for similar items in EconPapers)
Date: 1995-02-14
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Persistent link: http://EconPapers.repec.org/RePEc:wpa:wuwpma:9502007

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