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The Fiscal Theory of the Price Level
John Cochrane
Page: 584
Format: pdf, ePub, mobi, fb2
ISBN: 9780691242248
Publisher: Princeton University Press

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The Fiscal Theory of the Price Level by John H Cochrane Where do inflation and deflation ultimately come from? The fiscal theory of the price level offers a simple answer: Prices adjust so that the real value of 
The Fiscal Theory of the Price Level | Princeton University Press
The Fiscal Theory of the Price Level in a Non - IDEAS/RePEc Downloadable! The Fiscal Theory of the Price Level (FTPL) establishes that the general level of prices is determined at equilibrium in order to satisfy the 
The Fed - A Monetary-Fiscal Theory of Sudden Inflations and by DS Miller · 2021 · Cited by 1 — Government bonds' nominal return is their face value, their real return is determined by the government's surplus. In normal times, consumers 
THE FISCAL THEORY OF THE PRICE LEVEL PUZZLE The policy implications are disturbing, as they call for rather adventurous fiscal policies. We show that these disturbing policy implications are specific to