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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

Modern money theory, and interrelations between the treasury and central bank : the case of the United States

Tymoigne, Éric - In: Journal of economic issues : jei 48 (2014) 3, pp. 641-662

Persistent link: https://www.econbiz.de/10011597893

Quantifying the inflationary impact of fiscal stimulus under supply constraints

Di Giovanni, Julian; Kalemli-Ozcan, Sebnem; Silva, Álvaro - 2023

policy to U.S. inflation over the December 2019-June 2022 period. Model calibrations show that aggregate demand shocks … explain roughly two-thirds of total model-based inflation, and that the fiscal stimulus contributed half or more of the total …

Persistent link: https://www.econbiz.de/10013548957

China's exchange rate impasse and the weak U.S. dollar

McKinnon, Ronald; Schnabl, Gunther - 2008

inflation, particularly in the 1970s, and the choice of an exchange rate regime consistent with domestic monetary and fiscal … reminiscent of the global inflation generated by the weak dollar in the 1970s. …

Persistent link: https://www.econbiz.de/10010304732