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- W2597661353 abstract "The fiscal theory of the price level says that the price level can be made determinate if the government uses fiscal policies such that government liabilities explode unless the price in the first period is at the right level. The policy implications are disturbing, as they call for rather adventurous fiscal policies. We show that these disturbing policy implications are specific to the models that have been used to develop the theory. By moving to non Ricardian models we see that price determinacy is consistent with reasonable fiscal policies." @default.
- W2597661353 created "2017-04-07" @default.
- W2597661353 creator A5081140455 @default.
- W2597661353 date "2005-12-01" @default.
- W2597661353 modified "2023-09-27" @default.
- W2597661353 title "The fiscal theory of the price level puzzle: A non Ricardian view" @default.
- W2597661353 hasPublicationYear "2005" @default.
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