Arslan Razmi has released a working paper “MMT and Policy Assignment in an Open Economy Context: Simplicity is Useful, Oversimplifcation Not So Much.” It is a 27 page paper running through stability analysis of post-Keynesian models that allegedly tell us something about Modern Monetary Theory (MMT). In addition to having a condescending tone (as seen in the title of the paper), the analysis within the paper is not particularly impressive. In my view, Razmi has set up a straw man argument and then thrashes it vigorously. I have seen similar post-Keynesian articles in the past, so I did not spend much time digging into the details.
Comments On "MMT And Policy Assignment..."
Comments On "MMT And Policy Assignment..."
Comments On "MMT And Policy Assignment..."
Arslan Razmi has released a working paper “MMT and Policy Assignment in an Open Economy Context: Simplicity is Useful, Oversimplifcation Not So Much.” It is a 27 page paper running through stability analysis of post-Keynesian models that allegedly tell us something about Modern Monetary Theory (MMT). In addition to having a condescending tone (as seen in the title of the paper), the analysis within the paper is not particularly impressive. In my view, Razmi has set up a straw man argument and then thrashes it vigorously. I have seen similar post-Keynesian articles in the past, so I did not spend much time digging into the details.