Search Results - subject:"Fiscal theory of the Price Level"

The Fiscal Theory of the Price Level and Initial Government Debt

Daniel, Betty - In: Review of Economic Dynamics 10 (2007) 2, pp. 193-206

It is widely believed that the Fiscal Theory of the Price Level (FTPL) does not work in an environment in which initial …

Persistent link: https://www.econbiz.de/10005085598

FTPL-Perspective on Tradable Deficit Permits in the EMU

Bizer, Kilian; Gubaydullina, Zulia; Rahahleh, Hazim; … - In: Atlantic Economic Journal 35 (2007) 3, pp. 259-267

Persistent link: https://www.econbiz.de/10005810271

Long-Term Public Debt and the Fiscal Theory of the Price Level

Bloise, Gaetano; Reichlin, Pietro - C.E.P.R. Discussion Papers - 2006

The fiscal theory of the price level asserts that the price level is determined by the ratio of outstanding public …

Persistent link: https://www.econbiz.de/10005123617

A Small Corner of Intertemporal Public Finance - New Developments in Monetary Economics: Two Ghosts, Two Eccentricities, a Fallacy, a Mirage and a Mythos

Buiter, Willem H. - C.E.P.R. Discussion Papers - 2004

the so-called Fiscal Theory of the Price Level, a logically inconsistent theory of the link between the government budget …

Persistent link: https://www.econbiz.de/10005123549

The Ultimate Source of Inflation: A Microfoundation of the Fiscal Theory of the Price Level

Harashima, Taiji - EconWPA - 2004

The paper explores a fundamental mechanism of inflation by explicitly including a governmentfs optimization problem into a general equilibrium model assuming a Leviathan government. The result is clear- cut and beautiful: inflation is caused by the difference of the time preference rates between...

Persistent link: https://www.econbiz.de/10005126462

Exchange Rate Regimes and Nominal Convergence in the CEECs

Järvinen, Marketta - EconWPA - 2002

based on the Fiscal Theory of the Price Level (FTPL). The re sults show that a credibly fixed exchange rate is inconsistent …

Persistent link: https://www.econbiz.de/10005076688

Disturbing the Fiscal Theory of the Price Level: Can it Fit the EU-15

Afonso, António - ISEG - School of Economics and Management, Department … - 2002

With the fiscal theory of the price level (FTPL), Leeper- Sims-Woodford (LSW) argued that the government budget …

Persistent link: https://www.econbiz.de/10005463724

The fiscal theory of the price level and sluggish inflation: how important shall the wealth effect be?

Creel, Jerome; Sterdyniak, Henri - Centre de recherche en Économie (OFCE), Sciences … - 2002

According to the fiscal theory of the price level (FTPL), the interactions between monetary and fiscal policies with …

Persistent link: https://www.econbiz.de/10005198924

Nominal Debt and the Dynamics of Currency Crises

Corsetti, Giancarlo; Mackowiak, Bartosz Adam - C.E.P.R. Discussion Papers - 2001

This Paper proposes a new framework for interpreting a currency crisis associated with a fiscal imbalance, which we find appropriate for the analysis of contemporary economies with outstanding public debt. Unlike the first-generation literature on speculative attacks, we do not assume that money...

Persistent link: https://www.econbiz.de/10005662337

The Fallacy of the Fiscal Theory of the Price Level

Buiter, W.H. - Centre for Economic Performance, LSE - 2000

or unsound argument'. The 'fiscal theory of the price level', recently re-developed by Woodford, Cochrane, Sims and … proponents of the fiscal theory of the price level do not accept the fundamental proposition that the government's intertemporal …. Policy conclusions could be drawn from the fiscal theory of the price level that would be harmful if they influenced the …

Persistent link: https://www.econbiz.de/10005017181