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view of inflation. Second, we discuss how the recent inflationary episode has contributed to redistributing real resources …
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The fiscal theory of the price level (FTPL) solves puzzles raised by standard monetary theories. FTPL is forward looking and dynamic, and investors can use it to calculate the value of “money” through discounted free cash flow analysis
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important aspects of monetary theory, including inflation targeting, government spending, and international trade, as well as …
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Background: This paper examines the role of monetary and fiscal factors in interest rate variations in Sri Lanka under its deregulated regime of interest rates. In addition the paper also examines the role of monetary factors in the variation of interest rates, using a quarterly dataset for the...
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During the late-1940s and the early-1950s Milton Friedman favored a rule under which fiscal policy would be used to generate changes in the money supply with the aim of stabilizing output at full employment. He believed that the economy is inherently unstable because of endogenous movements in...
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