Warren Mosler-en twitter batzuk (2020an)

@fwred

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Maximizing price stability in a monetary economy

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Article 127 of the Treaty on the Functioning of the European Union establishes that the primary objective of the European Central Bank (ECB) is to mai…

sciencedirect.com

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@Chini_Francesco

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not lower per se, but different, and less regressive

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@Frances_Coppola

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It’s a US gov sponsored economic development program for a US Territory -a reduced tax rate for qualified business income. I still pay normal rates on all the other taxes. And the program is still open and drawing very little interest, so it can’t be all that good of a deal? 😉

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The additional income paid by gov to the economy (from the higher net interest payments to the economy on the public debt that supports those higher rates) adds to aggregate demand which is a positive incentive for investment.

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@heimbergecon

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Direct distributions of euro by the ECB to the member nations’ treasury accounts calculated on a per capita basis does the trick without asking nations to ‘pay for each other’. And negative capital is of no operational consequence for the ECB.

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@DEhnts

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And as the term structure of prices currently faced by markets is a direct function of the term structure of rates set by CB policy, in that sense the policy rate is the inflation rate = forward pricing channel. That is, CB’s have the rate thing backwards.

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@rethinkecon

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Elementary game theory- People have to ‘work to eat’ while business hires only if it likes the return prospects = ‘unfair game’ = real wages gravitate toward subsistence without ‘external’ support = no P curve/real wage is a policy choice.

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Warren B. Mosler #MMT@wbmosler

abu. 31

@DanielaGabor

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Higher rates provide higher incomes for those who already have money. The gov is a net payer of interest to the economy.

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Segida:

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From a macro economic point of view, the crisis is one of lost output, at the same time paid for by the agents suffering the reduction of consumption of that lost output.

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Warren B. Mosler #MMT@wbmosler

@derek_mcn

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As per the links I tweeted, the JG functions to promote the transition from unemployment to private sector employment, as the private sector prefers to hire people already working, etc. a process that- to your points- sustains ‘loose’ full employment.

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Warren B. Mosler #MMT@wbmosler

@chrisedmond

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The ‘special case’ is the assumption that state currency itself is a case of monopoly with the state and its agents the sole source of the funds that can be used to satisfy state tax liabilities. The rest follows.

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MMT White Paper – The Center of the Universe

@AusMMT

@chrisedmond

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MMT contributions to the history of thought: http://moslereconomics.com/mmt-white-paper/

The general theory: http://moslereconomics.com/mandatory-readings/a-general-analytical-framework-for-the-analysis-of-currencies-and-other-commodities/

Latest publication/Journal of Policy Modeling: https://sciencedirect.com/science/article/pii/S0161893817300017

Click Here for the White Paper on Modern Money Theory Italian Version

moslereconomics.com

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@PIIE

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Recognizing the currency is a public monopoly and therefore the state is ‘price setter’ would also be helpful, as would recognizing rate hikes impart an inflationary bias through interest income and forward pricing channels.

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Warren B. Mosler #MMT

@wbmosler

@fwred

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The price level is not a function of expectations. The currency is a simple public monopoly. The state is ‘price setter’.

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ira. 3

@M_C_Klein

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Irudia

Warren B. Mosler #MMT@wbmosler

ira. 3

@farmerrf

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Reminds me of when I met with a senior Fed researcher and I expressed by concern that the $90 billion or so annual profit from QE the Fed turned over to the Treasury was a drag on the economy. His response was to very emphatically state that he believed QE was a stimulus… 😉

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·ira. 3

@ewarren

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And we need legislators who can make laws that provide incentives that serve public purpose to that effect…

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