stance of monetary/fiscal policy. Accounting for risk premia in the fiscal theory allows the government portfolio to affect … fiscal theory directly depend on the conditional nominal term premium, giving rise to an optimal debt maturity policy that is …

We review the fiscal theory of the price level. We place special emphasis on the theory's implications for the …

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 …

We demonstrate that the Fiscal Theory of the Price Level (FTPL) cannot be used to determine the price level uniquely in …

The Fiscal Theory of the Price Level (FTPL) is the claim that, in a popular class of theoretical models, the price …

The Fiscal Theory of the Price Level (FTPL) is an important theory that recognizes the interaction between monetary and …