Modern money theory: a primer on macroeconomics for sovereign monetary systems
- Cham Palgrave Macmillan 2024
- xi, 320 p.
Table of Content: The Basics of Macroeconomic Accounting L. Randall Wray Pages 1-35 Spending by Issuer of Domestic Currency L. Randall Wray Pages 37-67 The Domestic Monetary System: Banking and Central Banking L. Randall Wray Pages 69-107 Fiscal Operations in a Nation That Issues Its Own Currency L. Randall Wray Pages 109-148 Tax Policy for Sovereign Nations L. Randall Wray Pages 149-173 Modern Money Theory and Alternative Exchange Rate Regimes L. Randall Wray Pages 175-208 Monetary and Fiscal Policy for Sovereign Currencies: What Should Government Do? L. Randall Wray Pages 209-242 Policy for Full Employment and Price Stability L. Randall Wray Pages 243-273 Inflation and Sovereign Currencies L. Randall Wray Pages 275-303 Back Matter Pages 305-320
This book, a revised new edition, examines how money is created and how it functions within global exchange rate regimes to highlight how monetary policy can promote economic growth, full employment, and price stability. It provides an introduction to the basics of macroeconomic accounting and the domestic monetary system, as well as fiscal operations, tax policy for sovereign nations, alternative exchange rate regimes. New topics, including central bank clearing, responses to the COVID-19 pandemic, the rise of inflation, and how to finance a Green New Deal, are also discussed.
Modern Money Theory provides the reader with a framework for understanding real world economies. It will be relevant to students, researchers, and policymakers interested in monetary policy.