These folks have been hard at it for decades. Stephanie Kelton recently pointed to this from 2012-2013 and so I added it to Functional Finance and the Debt Ratio and the Scott Fullwiler page, just under his MMT 101: A thread in 25 parts.

“This five part series will explore at length (warning!) and in detail (another warning—wonk alert!) the MMT perspective on the debt ratio and fiscal sustainability. While the approach suggests a macroeconomic policy mix and strategies for both fiscal and monetary policies that most neoclassical economists currently believe are unsustainable, ultimately the MMT preference for a significant role for fiscal policy in macroeconomic stabilization is shown to be consistent with traditional neoclassical views on fiscal sustainability.”
• Part I • Part II • Part III • Part IV • Part V

— Scott Fullwiler (@STF18) New Economic Perspectives Dec 2012 – Jan 2013