Since 2008,modem monetary theory(MMT)has experienced a round of confrontation between negation and affirma-tion,appreciation and contempt,and the monetary policy of China and the United States has therefore changed from response to resonance to differentiation.At present,when the Federal Reserve raises interest rates sharply,the performance of the US econo-my exceeds expectations,while the short-term repair of China's economy under the orientation of loose policies is less than ex-pected.This not only provides a rare observation window for the test of modem monetary theory and the implementation of mon-etary policy,but also deserves our continuous reflection and optimization of China's monetary policy.Our country needs the"big government"theory of MMT,actively endorses the"big finance"thought of MMT to solve problems for the government,and modem monetary theory supports China's fiscal policy to be more"active".
Modern monetary theoryHigh inflationRecessionThe policy effect
万方数据
维普
