{pdf download} The Fiscal Theory of the Price Level by John Cochrane

The Fiscal Theory of the Price Level by John Cochrane

• 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 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 Price Level with a Bubble The Fiscal Theory of Price Level with a Bubble. Markus K. Brunnermeier, Sebastian A. Merkel, and Yuliy Sannikov. NBER Working Paper No. 27116. The Fiscal Theory of the Price Level - Squarespace Fiscal theory states that the price level adjusts so that the real value of government debt equals the present value of real primary surpluses. A fiscal theory of the price level | CEPR The theory states that under these conditions, people can only form rational expectations of what inflation or prices will be by evaluating the inflation rate  Dissecting fiscal multipliers under the fiscal theory of the price Standard calibrations suggest that the fiscal regime hosts a government spending multiplier on output that lies between 1 and 3. In the monetary regime, the  A Requiem for the Fiscal Theory of the Price Level* in The Fiscal Theory of the Price Level (FTPL) is the claim that, in a popular class of theoretical models, the price level is sometimes  A Game-Theoretic View of the Fiscal - Research Database ABSTRACT. The goal of this paper is to probe the validity of the fiscal theory of the price level by modeling explicitly the market structure in which  To Solve Inflation, First Solve Deficits, This Theory Advises Expect to hear more about the fiscal theory of the price level as governments struggle with rising debt and inflation. Explaining the Fiscal Theory of the Price Level According to the fiscal theory of the price level, fiscal policy can be used to select which of these many paths actually occur. This article explains the  Explaining the Fiscal Theory of the Price Level proposes a new theory of price determination, the fiscal theory of the price level. He argues that the government's choice of how to finance its debt plays 

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