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This degree thesis concerns the analysis of the modern monetary theories , starting from the study of the currency and its special role that it plays in society .

The problem of the currency, its value , its circulation , is the focus of debate in all discussions on the economy and its prospects .

In the first part is about the mainstream monetary theories, namely the Quantity theory of money, the various extensions of it by famous economists like Pigou and Wicksell, then follows the Keynesian Theory with the influence of the Phillips curve and finally The Monetarist Counter-Revolution.

The second part analyzes the Modern Monetary Theory (MMT ) , starting from its origin describing its salient points , then continuing with the presentation of the Circuitis model which seems to be complementary to the previous theory .

Finally, in the third part is presented an empirical analysis on the relationship between GDP growth and growth in Total Debt , by studying the autocorrelation of the nominal and real variables , the cross- correlations and stationary , and found significant positive effects but transient.