Warren Mosler eta Pavlina Tcherneva

(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.

The central bank wants to maximize employment and lift inflation, and it’s wiling to ignore the trade-off. The risk is asset inflation and financial imbalances that may end in a crash.

barrons.com

2020 abu. 29·

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Warren B. Mosler #MMT@wbmosler

abu. 29

@wbmosler

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Barron’s:

“That means the central bank has de facto signed on to modern monetary theory…”

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.

reuters.com

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Warren B. Mosler #MMT

@wbmosler

@ptcherneva

eta

@fefacademy

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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:

http://moslereconomics-kg5winhhtut.stackpathdns.com/wp-content/uploads/2018/04/Tcherneva_MonopolyMoney_2002.pdf

2020 abu. 30

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Activist #MMT

Hontza(podcast)@ActivistMMT

@wbmosler

@MMTpodcast

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@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.

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Warren B. Mosler #MMT@wbmosler

@ptcherneva

eta

@fefacademy

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And they all still think rate hikes fight inflationit’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)


@mattybram, Mathew Forstater, DTM-koa

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