Bill on top of his game here:
Tag Archives: MMT
MMT primer on the net
This Could Change Everything
By Dick Wagner
More from the 1996 conference
History of MMT and the euro, 1996 Bretton Woods Conference
Found this on the net in the PK archives.
Shows MMT was on it well before this date.
Feel free to distribute
To: PKT Academics
Re: Bretton Woods Conference
Confirmed attendance includes senior staff from Deutchebank,
Credit Suisse, J.P. Morgan, Banker’s Trust, Salomon Bros,
Lehman Bros, Harvard Management, III, Petrus, Paine Webber,
Paribas, and BZW. A keynote speaker will be Professor Charles
Goodhart from the LSE. Bernard Connolly will be the historian.
Speakers for each topic are currently being arranged.
There is currently room for two academic representatives.
Please contact me at mosler@xxxxxxxx if you have interest.
A FRAMEWORK FOR ECONOMIC ANALYSIS
An Invitational Conference
Bretton Woods, New Hampshire
June 12-15, 1996
The purpose of this conference is to bring together a selected
group of portfolio managers, analysts, researchers
traders, and academics who have a common understanding
of monetary operations.
The objective of this conference is to achieve agreement on the use
of a common conceptual framework for undertaking
contemporary macroeconomic analysis.
Portfolio managers in attendance are responsible for well over
$50 billion in assets. The economists and analysts from the
international dealer community represent some of the world?s
largest and most sophisticated fixed income trading and sales
operations.
We believe that this group has the potential to establish an international
standard for the presentation and analysis of economic data.
Several of the fundamentals are Post Keynesian…
Deposit money is endogenous
Central Banks set short term rates exogenously
Deposits exist solely as the result of loans
Extension of these fundamentals includes…
Internal sovereign debt functions as interest
rate support
Taxes create a demand for the goverment’s
currency
Fiat currency is defined exogenouslyConference Moderator……..Warren B. Mosler
Wednesday, June 12, 1996
11:30 AM Welcome and Introduction
12:00 PM Luncheon
12:30 PM History of the Awareness of Monetary Operations
Charles Goodheart
MONETARY OPERATIONS
1:00 PM Review of the Fundamentals of Monetary Operations
1:30 PM Monetary Policy Options
MACROECONOMIC FUNDAMENTALS
2:00 PM The function of Government Securities
2:30 PM Currency Definition
3:00 PM Fiscal Policy Options and Implications
EXTERNAL DEBT
3:30 PM Review of Current Conditions
4:00 PM Macro-economic Implications
4:30 PM World Bank, IMF Policy Implications
6:00 PM Hor?s d?ouvres
7:00 PM Dinner
THURSDAY, JUNE 13
ESTABLISHING THE FRAMEWORK
9:00 AM Integrating Foreign Trade, Investment, Fiscal and Monetary
Policy
10:00 AM Full Employment, Zero Inflation Model
11:30 AM Lunch
RAMIFICATIONS OF MONETARY UNION
1:00 PM Current Political Situation
Bernard Connolly
2:00 PM Maastricht Fiscal Criteria Implications
3:00 PM Post 1999 Credit Implications
3:30 PM Functionality of the Euro
4:30 PM Drafting a Consensus
6:00 PM Hor’s d’Ouvres
7:00 PM Dinner
FRIDAY, JUNE 14, 1995
Review and Discussion
Warren B. Mosler
Director of Economic Analysis
III Finance
See “Soft Currency Economics:”
Interesting SLB post
Why I’m a Deficit Owl
By Chris Barrero
N.Y. Times letter
Letters: How to Mend Trust in the U.S. Economy
June 23 (NYT)
To the Editor:
Re “Broken Trust Takes Time to Mend” (Economic View, June 17):
Tyler Cowen argues that the “slow cure” for our economic malaise is to allow asset prices, wealth, trust, etc. to slowly rise. He states that the textbook cure of significant “Keynesian” government stimulus spending will not quickly restore prosperity because fiscal stimulus does not “rebuild confidence.”
Unfortunately, Professor Cowen seems not to understand that if the government were to let contracts for, say, $1 trillion to private enterprise to rebuild our failing highways, bridges, and municipal water and sewage systems, and provide resources for our shrinking public and higher education systems, this would quickly restore companies’ confidence in the profit opportunities that are available if they hire workers and buy materials from other United States companies. When these newly hired workers go out and spend their wages, the confidence of United States retailers would immediately surge as these additional customers break down the doors to get at the merchandise on the shelves.
Nothing will build the confidence and trust of business and workers quicker than the continuous ringing of cash registers. Paul Davidson
Morton Grove, Ill., June 17
The writer is editor of the Journal of Post Keynesian Economics and author of “The Keynes Solution: The Path to Global Economic Prosperity” (Palgrave Macmillan, 2009).
Mike Norman Economics: General theory and special cases in Modern Monetary Theory
The (Semantic) Problem with MMT: An Exercise in Framing | | New Economic PerspectivesNew Economic Perspectives
Fed Worries ‘Fiscal Cliff’ Is as Big a Threat as Europe
Does this mean the Fed staffers think fiscal policy works?
How about the Fed Chairman?
;)
Fed Worries ‘Fiscal Cliff’ Is as Big a Threat as EuropeBy Steve Liesman
May 10 (CNBC) — Officials at the Fed are increasingly concerned about the coming “fiscal cliff,” putting it on par with the European crisis and the housing market as among the US economy’s biggest threats.