IDEAS home Printed from https://ideas.repec.org/a/wsi/eapxxx/v11y2019i04ns1793930519000400.html
   My bibliography  Save this article

Do Japanese Economic Puzzles Validate Modern Monetary Theory?

Author

Listed:
  • Yuqing XING

Abstract

Modern monetary theory (MMT) claims that a monetary sovereign government has an unlimited financial capacity to purchase whatever it wishes and fulfil its future financial obligations. It is impossible for a monetary sovereign government to be insolvent or go bankrupt. MMT advocates often cite Japan as a successful experiment of the MMT, because it is the economy that has the highest public debt among the OECD (Organisation of Economic Co-operation and Development) economies and experienced dramatic growth in high-powered money supply since 2013, but has low inflation, stable yen exchange rates and zero interest.

Suggested Citation

  • Yuqing XING, 2019. "Do Japanese Economic Puzzles Validate Modern Monetary Theory?," East Asian Policy (EAP), World Scientific Publishing Co. Pte. Ltd., vol. 11(04), pages 98-107, October.
    • Handle: RePEc:wsi:eapxxx:v:11:y:2019:i:04:n:s1793930519000400
    DOI: 10.1142/S1793930519000400
    as

    Download full text from publisher

    File URL: http://www.worldscientific.com/doi/abs/10.1142/S1793930519000400
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://libkey.io/10.1142/S1793930519000400?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wsi:eapxxx:v:11:y:2019:i:04:n:s1793930519000400. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Tai Tone Lim (email available below). General contact details of provider: https://www.worldscientific.com/worldscinet/eap .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.