A Skeptic's Guide to Modern Monetary Theory

N. Gregory Mankiw

AEA Papers and Proceedings, 2020, vol. 110, 141-44

Abstract: This essay discusses a new approach to macroeconomics called modern monetary theory (MMT). It identifies the key differences between MMT and the approach found in mainstream textbooks. It concludes that while MMT contains some kernels of truth, its most novel policy prescriptions do not follow cogently from its premises.

JEL-codes: E52 E62 (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (6)

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DOI: 10.1257/pandp.20201102

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