Post-Monetarist Political Economy Institute

MMT Inspired Policy

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Can Tinkering with Interest Rates Solve All Inflation?

How strong are the screwdrivers, and are they threaded in the right direction?

High Rates Fostered an Unsustainable Economy Which Turkey Must Painfully Rebuild

Years of high rates in Turkey led to foreign-denominated private debt and speculative investment. Lowering rates will hurt but is necessary.

Why the Quantity Theory of Money is Wrong

Theoretically and empirically, the price level is far more complicated than a simple equation might suggest.

What really happened during the Volcker years?

The inflation-adjusted fiscal deficit shrank, meaning monetary policy did not act by itself.