“…The Keynesian argument has its roots in theoretical arguments in the literature, such as Bindseil (2004), Davidson (2015), Goodheart (1998), Lerner (1943Lerner ( , 1947, Sims (2013), and Tcherneva (2011). It is also based on empirical analysis and policy discussions, such as Malliaropulos and Migiakis (2018), Mattos et al (2019), Patra et al (2016), and Sau (2018).…”