Long-Term Debt and Optimal Policy in the Fiscal Theory of the Price Level
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 debt matters. For example, it determines whether news of...
| Veröffentlicht in: | Econometrica. - Wiley. - 69(2001), 1, Seite 69-116 |
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| 1. Verfasser: | |
| Format: | Online-Aufsatz |
| Sprache: | English |
| Veröffentlicht: |
2001
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| Zugriff auf das übergeordnete Werk: | Econometrica |
| Schlagworte: | Fiscal Theory of the Price Level Government Debt Price Level Inflation Economics Business Behavioral sciences Information science |
| Online verfügbar |
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