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Soft Currency Economics

Author

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  • Warren Mosler

Abstract

This 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.

Suggested Citation

  • Warren Mosler, 1995. "Soft Currency Economics," Macroeconomics 9502007, EconWPA.
  • Handle: RePEc:wpa:wuwpma:9502007
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    Cited by:

    1. Warren Mosler, 2002. "A Critique of John B. Taylor’s “Expectations, Open Market Operations, and Changes in the Federal Funds Rate”," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 24(3), pages 419-422, March.
    2. Mathew Forstater, 2013. "Time of production, time of circulation and turnover time: exploring the guts of Marx’s circuits of capital," Chapters,in: Monetary Economies of Production, chapter 4, pages 33-40 Edward Elgar Publishing.

    More about this item

    JEL classification:

    • E - Macroeconomics and Monetary Economics

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