{"title":"A Skeptic’s Guide to Modern Monetary Theory","authors":"N. Mankiw","doi":"10.1257/PANDP.20201102","DOIUrl":null,"url":null,"abstract":"This essay discusses a new approach to macroeconomics called modern monetary theory (MMT). It identifies the key differences between MMT and the approach found in mainstream textbooks. It concludes that while MMT contains some kernels of truth, its most novel policy prescriptions do not follow cogently from its premises.","PeriodicalId":18934,"journal":{"name":"National Bureau of Economic Research","volume":"32 1","pages":"141-144"},"PeriodicalIF":0.0000,"publicationDate":"2020-01-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"38","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"National Bureau of Economic Research","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1257/PANDP.20201102","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 38
Abstract
This essay discusses a new approach to macroeconomics called modern monetary theory (MMT). It identifies the key differences between MMT and the approach found in mainstream textbooks. It concludes that while MMT contains some kernels of truth, its most novel policy prescriptions do not follow cogently from its premises.
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