Modern monetary theory: a critique from the periphery
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2015-05
Autores
Vergnhanini, Rodrigo
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Resumo
This paper intends to present the recent debate on the modern
monetary theory (MMT) and to contribute with a critical view on its
application on modern economies, giving special attention to monetary
specifi cities of peripheral countries. MMT concerns have been centered
on both demystifying postulates of the “new consensus” and offering
an alternative theory to reach full employment with price stability.
However, it has been criticized for assuming that most constraints
domestic policies are self-imposed and do not arise from international
markets. From the perspective of a well-defi ned international currency
hierarchy, this paper argues that the majority of countries are not fully
sovereign in determining its own macroeconomic policy. Peripheral
countries are subject to even further constraints that cannot be ignored
Descrição
XX Encontro Nacional de Economia Política: desenvolvimento Latino-Americano, Integração e Inserção Internacional - UNILA, Foz do Iguaçu, 26 a 29 de maio de 2015
Palavras-chave
Dinheiro, Finanças internacionais e crescimento, Economia Política
Citação
ENCONTRO NACIONAL DE ECONOMIA E POLÍTICA, 20, 2015, Foz do Iguaçu - PR. Caderno de Resumos... Foz do Iguaçu: SEP, 2015