Modern money theory: a primer on macroeconomics for sovereign monetary systems

By:

Wray, Randall L

Material type: Text

TextPublication details: Palgrave Macmillan Cham 2024Description: xi, 320 pISBN:

9783031478864

Subject(s):

DDC classification:

332401 WRA

Summary: 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. (https://link.springer.com/book/10.1007/978-3-031-47884-0)

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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

[https://link.springer.com/book/10.1007/978-3-031-47884-0]

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.

(https://link.springer.com/book/10.1007/978-3-031-47884-0)

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