Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/300502 
Erscheinungsjahr: 
2024
Schriftenreihe/Nr.: 
Working Paper No. 1052
Verlag: 
Levy Economics Institute of Bard College, Annandale-on-Hudson, NY
Zusammenfassung: 
For Matías Vernengo and Esteban Pérez Caldentey (2020), the MMT literature overemphasizes the choice of the exchange rate regime and the relevance of a flexible exchange rate regime, as well as the ultimate effect of that choice upon the policy space. In addition, they argue that the role of capital flows is underexplored, and that the relevance of the balance-of-payments constraint is often underestimated. Vernengo and Pérez's criticism fails to consider that exchange-rate flexibility makes it possible to use flexible fiscal and monetary policies as well, to boost growth and employment, and to reduce the balance-of-payments constraint.
Schlagwörter: 
Capital Mobility
Currency
Exchange Rate
Financial Sector
Fiscal Policy
Foreign
Exchange Policy
Government Spending
Interest Rates
Monetary Policy
Real Activity
JEL: 
E42
E43
E44
O23
O24
Dokumentart: 
Working Paper

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