The fiscal theory of the price level

A traditional function of the central bank is to control the price level. The fiscal theory of the price level challenges this assumption, arguing instead that the fiscal authority's budgetary policy is the primary determinant of the price level. The authors provide a critical review of the fiscal theory and its implications for monetary policy.

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Year of publication:	2000
Authors:	Carlstrom, Charles T. ; Fuerst, Timothy S.
Published in:	Economic Review. - Federal Reserve Bank of Cleveland. - 2000, Q I, p. 22-32
Publisher:	Federal Reserve Bank of Cleveland
Subject:	Banks and banking \| Central \| Fiscal policy \| Monetary policy

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Extent:	application/pdf
Type of publication:	Article
Language:	English
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005360714