Johannes Schmidt has a new paper on the flaws of MMT’s treatment of open economies. Schmidt uses Wolfgang Stützel’s Theory of Exchange Rates, which led him to favor a fixed exchange rate system, to provide a more sensible Alternative. Find and download this paper here: ‘The Open Flank of MMT’ – contribution to the 25th… Continue reading More MMT Flaws through the Lens of Stützel
Tag: Wolfgang Stützel
MMT’s claims on monetary policy: is ‘raising interest rates ‘actually inflationary’, lowering rates ‘actually deflationary’? And why is the ‘4th price of money’ (price level) missing in Perry Mehrling’s ‘Money View’, altogether?
MMT founders Warren Mosler and Randall Wray like to claim that ‘monetary policy has it backwards’, see these 1,5 min video quotes: To offer some more detailed explanation of why I do not subscribe to W. Mosler‘s claim, I‘ll sketch another, imho more coherent view of how interest rate policy ‚transmits‘ to the price level… Continue reading MMT’s claims on monetary policy: is ‘raising interest rates ‘actually inflationary’, lowering rates ‘actually deflationary’? And why is the ‘4th price of money’ (price level) missing in Perry Mehrling’s ‘Money View’, altogether?
Seminar at BI Norwegian Business School 2017: First Video now Online
On Nov. 01-03, 2017, we held a Seminar at BI Norwegian Business School, Oslo (details here). Our main goals were (1) to present an overview of the current state of our work and get some feedback from the perspective of BI staff and students from different disciplines (Business, Law, Economics, Political Science), and (2) to… Continue reading Seminar at BI Norwegian Business School 2017: First Video now Online