Modern Monetary Theory and European Macroeconomics

This book provides a new methodological approach to money and macroeconomics. Realizing that the abstract equilibrium models lacked descriptions of fundamental issues of a modern monetary economy, the focus of this book lies on the (stylized) balance sheets of the main actors. Modern Monetary Theory and European Macroeconomics covers both the general case and then the Eurozone specifically.

Autorentext
Dirk H. Ehnts works as a lecturer in Economics at Bard College, Berlin.

Inhalt

Table of Contents

Introduction

Part I - Theoretical Foundations

Chapter 1. Substance and purposes of economic activity

Part II - Money and Credit

Chapter 2. Debts and balance sheets

Chapter 3. The creation of bank deposits (deposits)

Chapter 4. The creation of central bank deposits

Chapter 5. The instruments of a central bank (monetary policy)

Chapter 6. The creation of sovereign securities (fiscal policy)

Chapter 7. The sustainability of the financial system

Chapter 8. Inflation and deflation

Part III - Analysis

Chapter 9. A macroeconomic model

Chapter 10. Europe before the euro

Chapter 11. The situation with the euro

Part IV - Reform

Chapter 12. How do we restore demand?

Chapter 13. The future - with or without the euro?

Conclusion

Further readings

Index