Helicopter Money Policy Formulation

An important aspect of helicopter money is just how a central bank would obtain the authority to undertake such a policy. Eric Lonergan is a leading proponent of HM. As he points out, the resolution of this issue could depend on the institutional regime for the central bank in question. For example, it may beRead More

MMT Again

I thought we’d made peace on this topic a long time ago, but I guess not according to these comments….Against my better judgment I am going to respond to some of them…. I don’t really align myself with any particular school of economics because I believe there is enough gray area in economics that it’s dangerousRead More

Helicopter Recall – Fiscal Repairs Needed

“Helicopter money” (HM) is a term invented by Milton Friedman to refer to the fantasy of a monetary authority (central bank) distributing money – ex nihilo, in the absence of any related asset acquisition – as a way of stimulating aggregate demand. It’s an idea that’s permeated the blogosphere in recent months, in the wakeRead More