Re: fiscal deficit - Mosler addendum

["Per Gunnar Berglund" <pgberglund@xxxxxxxxxxx>]

In response to Bill Mitchell:

Bill wrote:
> You have disregarded exchange transactions of the central bank which can
also
> add or drain. These are part of the vertical component (of the very useful
> vertical-horizontal taxonomy).

Per says:
You are right in substance although I would like to remind that I said that

>>MA corresponds to what is normally called 'government debt', so if this is
the concept you have in mind, I'd urge you to call it 'government debt'
instead of 'net nominal $$' or something like that. It would simplify
communication. (You may want to confine your accounts to the
dollar-denominated part of government operations, but that is a relatively
minor point.)<<

The central bank, of course, is usually seen as part of the government
sector.

Best,
Per
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Per Gunnar Berglund
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