The starters -- Development strategy: the fountainhead of macroeconomic policies -- Fiscal policy: no longer the big brother -- Monetary policy: the black box of complexities -- Exchange rate and openness: the world is one! -- Financial stability: a belated recognition of the "core" -- The desserts

The starters -- Development strategy: the fountainhead of macroeconomic policies -- Fiscal policy: no longer the big brother -- Monetary policy: the black box of complexities -- Exchange rate and openness: the world is one! -- Financial stability: a belated recognition of the "core" -- The desserts

For Matías Vernengo and Esteban Pérez Caldentey (2020), the MMT literature overemphasizes the choice of the exchange rate regime and the relevance of a flexible exchange rate regime, as well as the ultimate effect of that choice upon the policy space. In addition, they argue that the role of...