Soft Currency Economics
AbstractThis evolutionary paper traces the interaction of monetary and fiscal policy, assuming lag reserve accounting in a fiat monetary system. It illustrates: Sovereign debt functions as interest rate support. Taxes function to create a demand for federal spending. The myth of the money multiplier. Taxed advantaged savings plans create a need for deficit spending. Exports are the cost of imports.
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Bibliographic InfoPaper provided by EconWPA in its series Macroeconomics with number 9502007.
Date of creation: 14 Feb 1995
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- E - Macroeconomics and Monetary Economics
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