Canzoneri, Matthew B.; Cumby, Robert E.; Diba, Behzad - 2021
through seignorage to control the price level. If on the other hand primary surpluses are expected to respond to the level of … debt in a way that assures fiscal solvency (a regime we call Money Dominant), then the price level is determined in more …A new theory of price determination suggests that if primary surpluses are independent of the level of debt, the price …