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Modern Monetary Theory: A Debate

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Author Info

  • Brett Fiebiger
  • Scott Fullwiler
  • Stephanie Kelton
  • L. Randall Wray

Abstract

This working paper presents a debate, which begins with Bret Fiebiger arguing that the approach to monetary and financial macroeconomics which terms itself "modern monetary theory” does not have sound analytic foundations and is of little relevance empirically. Scott Fullwiler, Stephanie Kelton and L. Randall Wray, three leading contributors to modern monetary theory, respond with a new statement of their overall approach, which they believe shows clearly its links with post-Keynesianism. Fiebiger provides a final rejoinder to the Fullwiler-Kelton-Wray response.

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File URL: http://www.peri.umass.edu/fileadmin/pdf/working_papers/working_papers_251-300/WP279.pdf
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Bibliographic Info

Paper provided by Political Economy Research Institute, University of Massachusetts at Amherst in its series Working Papers with number wp279.

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Date of creation: 2012
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Handle: RePEc:uma:periwp:wp279

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  1. L. Randall Wray, 1998. "Modern Money," Macroeconomics 9810002, EconWPA.
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