The contribution of MMT to modern macroeconomics

Martin Watts and James Juniper
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James Juniper: N/A

European Journal of Economics and Economic Policies: Intervention, 2023, vol. 20, issue 1, 43-55

Abstract: This paper draws on nearly 25 years of modern monetary theory (MMT) scholarship to provide an assessment of the critique of MMT by Drumetz/Pfister in their 2021 working paper. The present paper commences with a review of methodology. It then pursues a thematic approach, initially exploring the issue of currency sovereignty and the nature of modern monetary systems before addressing the specific criticisms that Drumetz/Pfister have raised about MMT’s approach to monetary and fiscal policy.

Keywords: institutional practice; fiat currency; monetary policy; fiscal policy (search for similar items in EconPapers)
JEL-codes: B22 E42 E52 E62 (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:elg:ejeepi:v:20:y:2023:i:1:p43-55

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