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MMT FAQ

MMT FAQ
Lina Andres, Christian Axtmann, Luciana Benavente, Sasha High, Nick Holzberg, Sarah Johannes, Leslie Lubowa, Friederike Reimer, Kathinka Schlieker, Nangosyah Tom Wellard
Summer Academy, 2020
Level: beginner
Perspective: Post-Keynesian Economics
Topic: Macroeconomics
Format: Essay
Link: https://spark.adobe.com/page/2C2BitUmD1Igv/

This dossier is the Final Output of Workshop 9 (MMT) of the Online Summer Academy For Pluralist Economics 2020. Find further outputs from and information about the summer academy here.

FAQ: Modern Monetary Theory

 

Go to: MMT FAQ

Tags: background to MMT | macroeconomics | modern monetary theory (MMT) | student essay
This panel was part of the conference "Next Generation Gentral Banking - Climate Change, Inequality, Financial Instability" 03. - 05.02.2021. 2021 Level: advanced NextGen Central Banking: How the coronavirus almost brought down the global financial system Finanzwende e.V. & Heinrich-Böll-Stiftung, Adam Tooze, Annette Vissing-Jørgensen, Sven Giegold, Martin Hellwig Transformative Responses, Heinrich-Böll-Foundation & Finanzwende La teoría monetaria moderna (TMM) es una escuela de pensamiento macroeconómico y monetario centrada en el análisis del sistema monetario y crediticio y, en particular, en la cuestión de la creación de crédito por parte del Estado. Bebe de la tradición poskeynesiana y del chartalismo, que fue elaborada por Georg Friedrich Knapp (Ehnts 2020). La TMM cuestiona tres falsas creencias elementales respecto a la teoría monetaria que surgieron en el periodo neoclásico, y puede así entenderse como una alternativa a la concepción neoclásica del dinero. 2020 Level: beginner Teoría monetaria moderna Nathalie Freitag Exploring Economics In der Kolumne Jenseits von Angebot & Nachfrage nehmen Autor*innen aus dem Netzwerk Plurale Ökonomik die fachlichen Scheuklappen der Lehrbuchökonomie ab und werfen einen pluralökonomischen Blick auf gesellschaftspolitische Fragestellungen. 2024 Level: beginner Jenseits von Angebot und Nachfrage - Agora42 Kolumne   Exploring Economics Michael Kalecki famously remarked “I have found out what economics is; it is the science of confusing stocks with flows”. Stock-Flow Consistent (SFC) models were developed precisely to address this kind of confusion. The basic intuition of SFC models is that the economy is built up as a set of intersecting balance sheets, where transactions between entities are called flows and the value of the assets/liabilities they hold are called stocks. Wages are a flow; bank deposits are a stock, and confusing the two directly is a category error. In this edition of the pluralist showcase I will first describe the logic of SFC models – which is worth exploring in depth – before discussing empirical calibration and applications of the models. Warning that there is a little more maths in this post than usual (i.e. some), but you should be able to skip those parts and still easily get the picture. 2020 Level: beginner Stock Flow Consistent Macroeconomics Cahal Moran Rethinking Economics

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