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Spending by Issuer of Domestic Currency

In: Modern Money Theory

Author

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  • L. Randall Wray

    (University of Missouri-Kansas City
    Levy Economics Institute of Bard College)

Abstract

In previous sections we have examined in detail the three balances approach developed largely by Wynne Godley. In some sense all of that is preliminary to examining the nature of modern money. Further, a key distinguishing characteristic of MMT is its view on how government really spends. Beginning with this chapter we will develop our theory of sovereign currency.

Suggested Citation

  • L. Randall Wray, 2015. "Spending by Issuer of Domestic Currency," Palgrave Macmillan Books, in: Modern Money Theory, edition 2, chapter 2, pages 41-70, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-53992-2_3
    DOI: 10.1057/9781137539922_3
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    Cited by:

    1. Mark Diesendorf & Steven Hail, 2022. "Funding of the Energy Transition by Monetary Sovereign Countries," Energies, MDPI, vol. 15(16), pages 1-14, August.

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