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The Fiscal Theory of the Price Level. John Cochrane

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ISBN: 9780691242248 | 584 pages | 15 Mb

• The Fiscal Theory of the Price Level
  

• John Cochrane
  

• Page: 584
  

• Format: pdf, ePub, fb2, mobi
  

• ISBN: 9780691242248
  

• Publisher: Princeton University Press
  

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The Fiscal Theory of the Price Level - Amazon.com The fiscal theory of the price level offers a simple answer: Prices adjust so that the real value of government debt equals the present value of taxes less  The Fiscal Theory of the Price Level with - Princeton University This paper incorporates a bubble term in the standard Fiscal Theory of the Price Level equation to explain why countries with persistently negative primary  The Fiscal Theory of the Price Level - Squarespace Fiscal theory states that the price level adjusts so that the real value of government debt equals the present value of real primary surpluses. The Fiscal Theory of Price Level with a Bubble | NBER This paper incorporates a bubble term in the standard Fiscal Theory of the Price Level equation to explain why countries with persistently  THE FISCAL THEORY OF THE PRICE LEVEL PUZZLE The policy implications are disturbing, as they call for rather adventurous fiscal policies. We show that these disturbing policy implications are specific to  Explaining the Fiscal Theory of the Price Level According to the fiscal theory of the price level, fiscal policy can be used to select which of these many paths actually occur. This article explains the  A Requiem for the Fiscal Theory of the Price Level* in The Fiscal Theory of the Price Level (FTPL) is the claim that, in a popular class of theoretical models, the price level is sometimes  The fiscal theory of the price level and sluggish inflation According to the fiscal theory of the price level (FTPL), the interactions between monetary and fiscal policies with governments facing the possibility to  Is the Price Level Determined by the Needs of Fiscal Solvency? The fiscal theory of price determination suggests that if primary surpluses evolve independently of government debt, the equilibrium price level "jumps" to  The Fiscal Myth of the Price Level - Dirk Niepelt I examine the “fiscal theory of the price level” according to which “non-. Ricardian” policy and predetermined nominal government debt fiscally determine. The Fiscal Theory of the Price Level - John Cochrane Where do inflation and deflation ultimately come from? The fiscal theory of the price level offers a simple answer: Prices adjust so that the real value of  The Fiscal Theory of the Price Level: A Critique - JSTOR This paper argues that the 'fiscal theory of the price level' (FTPL) has feet of clay. The source of the problem is a fundamental economic misspecification. The Fiscal Theory of the Price Level in a World of Low Interest Abstract: A central equation for the fiscal theory of the price level (FTPL) is the government budget constraint (or "government valuation equation"),  The Fiscal Theory of the Price Level with a Bubble - EconStor The Fiscal Theory of the Price Level (FTPL) stresses the role of money as a store of value and argues that the real value of all outstanding government debt,