Banca de DEFESA: João Pedro Heringer Machado

Uma banca de DEFESA de MESTRADO foi cadastrada pelo programa.
STUDENT : João Pedro Heringer Machado
DATE: 13/09/2023
TIME: 15:00
LOCAL: A DEFESA SERÁ REALIZADA POR VIDEOCONFERÊNCIA
TITLE:

Critical Essays on Modern Money Theory

KEY WORDS:

macroeconomics, monetary economics, fiscal policy, post-keynesian economics,
economic history.

PAGES: 97
BIG AREA: Ciências Sociais Aplicadas
AREA: Economia
SUMMARY:

The aim of this dissertation is to offer some critiques to two fundamental propositions
of Modern Money Theory (MMT). Firstly, that the State can assure that the private sector uses
the money issued by the government by taxation alone and, secondly, a State that has monetary
sovereignty faces no financial constraints, that are not self imposed, to spend. The first chapter
presents MMT, with its original influences and new ideas. The second chapter presents some
critiques to the first proposition using post-keynesian monetary theory by showing the MMT
thesis is insufficient when some of the characteristics of a modern capitalist economy are taken
into consideration, that is, production is organized by markets and agents take important
decisions while coping with fundamental uncertainty. Beyond that, currency substitution in
some Latin-American countries serves as a counterexample to the MMT thesis. The last chapter
shows that, even with monetary sovereignty, the government can be financially constrained
depending on wether or not Treasury can sell its bonds directilly to the Central Bank.

COMMITTEE MEMBERS:
Interno - 2554533 - JALES DANTAS DA COSTA
Interno - 6999314 - JOSE LUIS DA COSTA OREIRO
Externo à Instituição - LUCIANO DIAS DE CARVALHO - UFV
Interno - ***.012.567-** - MANOEL CARLOS DE CASTRO PIRES - UnB