Aside

MMT considers that the aggregate demand impact of interest rate changes are unclear and may not even be negative (for a rise) or positive (for a fall) depending on rather complex distributional factors. For example, remember that rising interest rates represent both a cost and a benefit depending on which side of the equation you are on. Interest rate changes also influence aggregate demand – if at all – in an indirect fashion whereas government spending injects spending immediately into the economy.

This is the reason why MMT proponents do not give priority to monetary policy over fiscal policy.

SOURCE – BILL MITCHELL

MMT Nutshell: Diagrams and Dollars

Protected: Garnered Interest

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History of Job Guarantees in Australia

The full series can be seen on the original post.

2013 in review

The WordPress.com stats helper monkeys prepared a 2013 annual report for this blog.

Here’s an excerpt:

The concert hall at the Sydney Opera House holds 2,700 people. This blog was viewed about 41,000 times in 2013. If it were a concert at Sydney Opera House, it would take about 15 sold-out performances for that many people to see it.

Click here to see the complete report.