the Money View. At first sight, the MMT's model of money hierarchy focuses on a hierarchy within a specific unit of … account whereas the Money View perceives hierarchy not only within an individual unit of account but also across various units …

merits of the "money view" and "credit view" as accounts of macroeconomic outcomes. Our own analysis of the postwar evidence …. This contrasts with Schularick and Taylor's (2012) highly negative verdict on the money view. In accounting for the … difference in findings, we first explain that Schularick and Taylor's characterization of the money view is defective, both …

countries. Modern approaches to monetary policy transmission can be grouped under two headings, Money View and Credit View. The … money view concentrates on interest rates to explain the effects of monetary policy on aggregate spending by creating an …