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Modern Monetary Theory and Its Poisonous Implications [Teoria monetară modernă şi implicaţiile sale nefaste]

Author

Listed:
  • Cerna Silviu

    (Universitatea de Vest din Timişoara)

Abstract

A new economic theory – “Modern Monetary Theory” (MMT) – has been enjoying great success in the US lately and is often invoked in Europe. It is supported mainly by left-wing politicians and economists, who advocate for the further increase of the budget deficit, financed more by the creation of currency than by the issuance of government securities in order to easily finance the deficit of the state.

Suggested Citation

  • Cerna Silviu, 2019. "Modern Monetary Theory and Its Poisonous Implications [Teoria monetară modernă şi implicaţiile sale nefaste]," Revista OEconomica, Romanian Society for Economic Science, Revista OEconomica, issue 03, September.
    • Handle: RePEc:oen:econom:y:2019:i:03:id:543
    as

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    More about this item

    Keywords

    credit; government debt; budget deficit; interest; inflation; liquidity; currency; solvency; sustainability; monetary theory;
    All these keywords.

    JEL classification:

    • B10 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - General
    • E59 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Other
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory

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