Modern Monetary Theory: A Debate

Brett Fiebiger, Scott Fullwiler, Stephanie Kelton and L. Randall Wray

Working Papers from Political Economy Research Institute, University of Massachusetts at Amherst

Abstract: This working paper presents a debate, which begins with Bret Fiebiger arguing that the approach to monetary and financial macroeconomics which terms itself "modern monetary theory” does not have sound analytic foundations and is of little relevance empirically. Scott Fullwiler, Stephanie Kelton and L. Randall Wray, three leading contributors to modern monetary theory, respond with a new statement of their overall approach, which they believe shows clearly its links with post-Keynesianism. Fiebiger provides a final rejoinder to the Fullwiler-Kelton-Wray response.

Date: 2012
New Economics Papers: this item is included in nep-mac, nep-mon and nep-pke
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Citations: View citations in EconPapers (22)

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