A Requiem for the Fiscal Theory of the Price Level

A Requiem for the Fiscal Theory of the Price Level
The Fiscal Theory of the Price Level (FTPL) is the claim that, in a popular class of theoretical models, the price level is sometimes determined by fiscal policy rather than monetary policy. The models where this claim has been established assume that all decisions are made by an infinitely-lived representative agent. We present an alternative,... READ MORE...

Publication date: October 2019
ISBN 9781513516196
$18.00

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Publication date: October 2019

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