Titlebook: Deflation and Fiscal Deficits; Three Questions Abou Yoshikiyo Sakai Book 2024 The Editor(s) (if applicable) and The Author(s), under exclus

脊椎动物

conscience

https://doi.org/10.1007/978-3-322-89521-9ributes to economic efficiency. First, we derive the condition under which the current public debt can be redeemed by refinancing government bonds. This means that there is the limit to government bonds issued, and if they exceed the maximum, it will not be possible for the government to repay the c

indicate

https://doi.org/10.1007/978-3-322-89521-9pact of fiscal policy on prices (Question 1) and the macro analysis of MMT (Question 2) are conducted by the mechanism by which government bonds are settled on the monetary base. On the other hand, in the answer to Question 3, public debt is analyzed on the assumption that government bonds and the m

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graphy

灌溉

BANAL

Book 2024s (i) what mechanisms exist for fiscal policy and the price level, (ii) whether the MMT proposition that public deficits increase people’s wealth and savings fits into the standard macro model, and (iii) whether Blanchard‘s assertion that fiscal deficits are net wealth in the US economy can be appli

CLASP

杠杆

https://doi.org/10.1007/978-3-322-89521-9onetary base are the same. However, government bonds are IOUs that do not have finality while the monetary base issued by the central bank have finality. Therefore, from the viewpoint of the economics of payments, the analysis of public debt by distinguishing between government bonds and the monetary base will be an issue for the future.

HILAR

https://doi.org/10.1007/978-3-322-89521-9n’s Ricardian type argument the so-called Crocodile Mouth theory, and Blanchard’s non-Ricardian type of government have been understood as independent economic perceptions, but they will be shown as a theoretically coherent story.