(https://twitter.com/wbmosler/status/1299804705380610049)
Warren B. Mosler #MMT@wbmosler
So it’s fair to say that, at least in the very short run, MMT understandings are “saving the world?”
The Fed’s New Policy Means Rates Will Stay Lower Longer. The Price: Financial Turbulence.
2020 abu. 29·
oooooo
Warren B. Mosler #MMT@wbmosler
erabiltzaileari erantzuten
oooooo
(https://twitter.com/wbmosler/status/1300021090434121728)
Pavlina R Tcherneva@ptcherneva
Important key victory. Also transitory. The argument that “at *some* point wages will rise and cause inflation” isn’t dead. At that point, jobs will again be on the chopping block. We need tools for inflation control other than unemployment & stagnant pay
With new monetary policy approach, Fed lays Phillips curve to rest
One of the fundamental theories of modern economics may have finally been put to rest.
oooooo
eta
erabiltzaileei erantzuten
This remains definitive on the source of the price level, which hopefully MMT proponents next push to ‘front and center.’ Now that we all know the gov can’t go broke it’s time to move on to this:
2020 abu. 30
@mattybram1 told me that Pavlina wrote “a mathematical model of Warren’s ideas” during her initial internship with Warren, and presented it at (I think) the Bretton Woods 50th anniversary conference. I believe the above 2002 paper is the peer-reviewed version of that paper.
oooooo
Warren B. Mosler #MMT@wbmosler
eta
erabiltzaileei erantzuten
And they all still think rate hikes fight inflation –it’s in fact the presumption behind this latest move– when in fact rate hikes work to support inflation. 🙁
Gehigarria:
Bill Mitchell-en US Federal Reserve statement signals a new phase in the paradigm shift in macroeconomics
(http://bilbo.economicoutlook.net/blog/?p=45699)
1 @mattybram, Mathew Forstater, DTM-koa
joseba says:
Ikus ondokoa:
Bill Mitchell eta AEB-ko Fed
https://www.unibertsitatea.net/blogak/heterodoxia/2020/08/31/bill-mitchell-eta-aeb-ko-fed/