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-market economies. The chapter discusses the history, macroeconomic effects, theory, practice, and future of inflation targeting …
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The author provides a rigorous analysis of Milton Friedman's parable of the "helicopter" drop of money a permanent/irreversible increase in the nominal stock of fiat base money rate which respects the intertemporal budget constraint of the consolidated Central Bank and Treasury - the State....
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works, when modern monetary theory makes sense, why the Eurosystem has a potentially fatal design flaw, why the fiscal … theory of the price level is a fallacy and how to escape from the zero lower bound. …
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