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Testing the positive theory of government finance
Bizer, David Scott - In: Journal of monetary economics 26 (1990) 1, pp. 123-141
Persistent link: https://www.econbiz.de/10001096475
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Money as stock
Cochrane, John H. - In: Journal of monetary economics 52 (2005) 3, pp. 501-528
Persistent link: https://www.econbiz.de/10002837024
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The fiscal theory of the price level in an open economy
Daniel, Betty Carolyn - In: Journal of monetary economics 48 (2001) 2, pp. 293-308
Persistent link: https://www.econbiz.de/10001610866
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Fiscal solvency and price level determination in a monetary union
Bergin, Paul R. - In: Journal of monetary economics 45 (2000) 1, pp. 37-53
Persistent link: https://www.econbiz.de/10001445675
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A Requiem for the Fiscal Theory of the Price Level
Farmer, Roger E. A. - 2019
We demonstrate that the Fiscal Theory of the Price Level (FTPL) cannot be used to determine the price level uniquely in …
Persistent link: https://www.econbiz.de/10012894996
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Intertemporal Distortions in the Second Best
Albanesi, Stefania - 2010
This paper studies the long run properties of intertemporal distortions in a broad class of second best economies. Our unified framework encompasses and extends many well known models, such as variants of the Ramsey taxation model with aggregate or idiosyncratic risk, and economies with...
Persistent link: https://www.econbiz.de/10012759663
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On the General Relativity of Fiscal Language
Kotlikoff, Laurence J. - 2010
A century ago, everyone thought time and distance were well defined physical concepts. But neither proved absolute. Instead, measures/reports of time and distance were found to depend on one%u2019s reference point, specifically one%u2019s direction and speed of travel, making our apparent...
Persistent link: https://www.econbiz.de/10012761261
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Long-Term Debt and Optimal Policy in the Fiscal Theory of the Price Level
Cochrane, John H. - 2021
The fiscal theory says that the price level is determined by the ratio of nominal debt to the present value of real … primary surpluses. I analyze long-term debt and optimal policy in the fiscal theory. I find that the maturity structure of the …
Persistent link: https://www.econbiz.de/10013220940
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Understanding the Fiscal Theory of the Price Level
Christiano, Lawrence J.; Fitzgerald, Terry J. - 2021
We review the fiscal theory of the price level. We place special emphasis on the theory's implications for the …
Persistent link: https://www.econbiz.de/10013223567
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The Fallacy of the Fiscal Theory of the Price Level
Buiter, Willem H. - 2021
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/10013223568