Understanding the Fiscal Theory of the Price Level
Lawrence J. Christiano
Northwestern University; Federal Reserve Bank of Cleveland; Federal Reserve Bank of Chicago; Federal Reserve Bank of Minneapolis; National Bureau of Economic Research (NBER)
Terry J. Fitzgerald
Organization for Economic Co-Operation and Development (OECD)
NBER Working Paper No. w7668
We review the fiscal theory of the price level. We place special emphasis on the theory's implications for the feasibility of price stability.
Number of Pages in PDF File: 66
Date posted: May 21, 2000
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