HIGHLIGHTS
- who: H.Fiedler from the GermanyGermany have published the research: Ehnts 2 2022.indd, in the Journal: (JOURNAL)
- what: Drumetz and Pfister (2021a, 2021b) should be lauded for their intent to engage with MMT.
SUMMARY
The Fed creates reserves when it spends or lends. To understand questions concerning public debt and fiscal sustainability, the authors need to look at the way a national (federal) government spends. Its central bank always creates new reserves when it spends on behalf of the government. As the name implies (from French revenir, to come back . . .
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