A Skeptic's Guide to Modern Monetary Theory
AbstractThis 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.
CitationMankiw, N Gregory. 2020. "A Skeptic's Guide to Modern Monetary Theory." AEA Papers and Proceedings, 110: 141-44. DOI: 10.1257/pandp.20201102
- E52 Monetary Policy
- E62 Fiscal Policy