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An MMT informed fiscal reform for China
Liang, Yan - In: The Chinese economy : translations and studies 57 (2024) 3, pp. 207-224
Employing the Modern Monetary Theory (MMT), this paper examines the current Chinese fiscal system and highlights its three characteristics. First, fiscal revenues are centralized at the central government while expenditures are decentralized at the local governments; second, fiscal spending...
Persistent link: https://www.econbiz.de/10014514456
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A fiscal theory of money and bank liquidity provision
He, Ping; Liu, Zehao; Xie, Chengbo - In: Journal of economic theory 214 (2023), pp. 1-29
Persistent link: https://www.econbiz.de/10014540681
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Time-to-build approach in a sticky price, sticky wage optimizing monetary model
Casares, Miguel - 2002
Persistent link: https://www.econbiz.de/10013434466
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No Job, No Money, No Refi : Frictions to Refinancing in a Recession
DeFusco, Anthony - 2020
the likely unemployed and those facing new out-of-pocket costs. Our results imply that unemployed and liquidity …
Persistent link: https://www.econbiz.de/10012851598
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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
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Free banking and monetary reform
Glasner, David - 1989 - 1. publ.
Persistent link: https://www.econbiz.de/10013493535
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Money and banking in contemporary Japan : the theoretical setting and its application
Suzuki, Yoshio - 1980
Persistent link: https://www.econbiz.de/10000014464
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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
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Deflation and Fiscal Deficits : Three Questions About Japanese Economic Policy
Sakai, Yoshikiyo - 2024
Circumstances of Questions and Theoretical Background -- Timeline of Economic Policies in Japan -- Structure of … propositions of Sims’ FTPL, Kelton's MMT, Japan's Ricardian type argument, and the non-Ricardian type of government by Blanchard …
Persistent link: https://www.econbiz.de/10014515504
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Comparison of Box-Jenkins and Bonn monetary model prediction performance
Bhattacharyya, Manmatha N. - 1980
Persistent link: https://www.econbiz.de/10000048511