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Fiscal reform and government debt in Japan : a neoclassical perspective

Hansen, Gary D.; İmrohoroğlu, Selahattin - 2013

Persistent link: https://www.econbiz.de/10010210579

Quantitative easing and liquidity in the Japanese government bond market

Iwatsubo, Kentaro; Taishi, Tomoki - 2016

Persistent link: https://www.econbiz.de/10011554968

Fiscal reform to benefit state and local governments : the modern money theory approach

Wray, L. Randall - 2019

This paper will present the Modern Money Theory approach to government finance. In short, a national government that chooses its own money of account, imposes a tax in that money of account, and issues currency in that money of account cannot face a financial constraint. It can make all payments...

Persistent link: https://www.econbiz.de/10012102465

Scarcity and spotlight effects on liquidity and yield : quantitative easing in Japan

Pelizzon, Loriana; Subrahmanyam, Marti G.; Tobe, Reiko; … - 2018

Persistent link: https://www.econbiz.de/10013447882

Has Japan been following Modern Money Theory without recognizing it? : no! and yes

Wray, L. Randall; Nersisyan, Yeva - 2021

Modern Money Theory (MMT) economists have used Japan as an example of a country that demonstrates that high deficits … really spend tax revenue or borrow in their own currency-with Japan serving as an example of a country that does not face … financial budget constraints as normally defined. In this paper we evaluate whether Japan is the poster child of MMT and argue …

Persistent link: https://www.econbiz.de/10012432238

Is a very high public debt a problem?

Leão, Pedro - 2015

This paper has two main objectives. The first is to propose a policy architecture that can prevent a very high public debt from resulting in a high tax burden, a government default, or inflation. The second objective is to show that government deficits do not face a financing problem. After...

Persistent link: https://www.econbiz.de/10011309513

Economic policy in India : for economic stimulus, or for austerity and volatility?

Sen, Sunanda; DasGupta, Zico - 2014

The implementation of economic reforms under new economic policies in India was associated with a paradigmatic shift in monetary and fiscal policy. While monetary policies were solely aimed at "price stability" in the neoliberal regime, fiscal policies were characterized by the objective of...

Persistent link: https://www.econbiz.de/10010385761

Modern Money Theory and interrelations between the treasury and the central bank : the case of the United States

Tymoigne, Éric - 2014

One of the main contributions of Modern Money Theory (MMT) has been to explain why monetarily sovereign governments have a very flexible policy space that is unconstrained by hard financial limits. Not only can they issue their own currency to pay public debt denominated in their own currency,...

Persistent link: https://www.econbiz.de/10010251586

Minsky, monetary policy, and mint street : challenges for the art of monetary policymaking in emerging economies

Yanamandra, Srinivas - 2014

This paper examines the emerging challenges to the art of monetary policymaking using the case study of the Reserve Bank of India (RBI) in light of developments in the Indian economy during the last decade (2003-04 to 2013-14). The paper uses Hyman P. Minsky's financial instability hypothesis as...

Persistent link: https://www.econbiz.de/10010436173

Is monetary financing inflationary? : a case study of the Canadian economy, 1935 - 75

Ryan-Collins, Josh - 2015

Historically high levels of private and public debt coupled with already very low short-term interest rates appear to limit the options for stimulative monetary policy in many advanced economies today. One option that has not yet been considered is monetary financing by central banks to boost...

Persistent link: https://www.econbiz.de/10011389179

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