Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/280734 
Year of Publication: 
2023
Citation: 
[Journal:] European Journal of Economics and Economic Policies: Intervention (EJEEP) [ISSN:] 2052-7772 [Volume:] 20 [Issue:] 1 [Year:] 2023 [Pages:] 56-66
Publisher: 
Edward Elgar Publishing, Cheltenham
Abstract: 
Modern monetary theory (MMT) has grown in popularity in recent years. Several central bankers have made passing comments about it. However, the publication of two papers by Drumetz/Pfister of the Banque de France in 2021 represents the first attempt at a more systematic assessment of MMT by two scholars with knowledge of and experience in central banking. This is a welcome event in the economic debate. The present paper analyses the merits of Drumetz/Pfister's criticism, and investigates some of the most common sources of "misinterpretation" of MMT.
Subjects: 
modern monetary theory
government debt
central banking
inflation
fiscal policy
JEL: 
E31
E52
E58
E62
B52
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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