This paper is focused on Modern Monetary Theory's (MMT) treatment of inflation from an open economy perspective. It … facing an inflation-unemployment trade-off. … analyzes how the inflation process is explained within the MMT framework and provides empirical evidence in support of this …

Modern Money Theory (MMT) has generated considerable scrutiny and discussions over the past decade. While it has gained … (persistent nonfrictional unemployment, unfair inequalities, and financial instability), their policy proposals do not lead to a …

to support the standard objection to such policies: that they will lead to uncontrollable inflation. Theoretical models … support for a relationship between monetary financing and inflation. The findings lend support to recent calls for explicit …

consistent with the theory if import prices are given substantial weightin measuring marginal cost, rejecting the labour costs …

The article develops a stylized medium-run post-Kaleckian open economy model with conflict inflation and combines two … demand, growth, trade balance, and inflation are generally ambiguous and highly contingent on the parameter constellation of …

Foreign price shocks have significant effects on functional income distribution and on inflation inequality. By ….g. food prices for low-wage workers). Based on the conflicting-claims inflation literature, we propose a new extension to this … with an inflation-targeting regime. We investigate the impacts of foreign price shocks on income and inflation inequality …

a well-defined level and growth ratethen full employment and low inflation will not be achieved in a sustainable way. We … also show that fiscal policy on its own could achieve both full employment and a target rate of inflation. Finally, we …