Understanding the Fiscal Theory of the Price Level

66 Pages Posted: 21 May 2000 Last revised: 16 Dec 2022

See all articles by Lawrence J. Christiano

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)

Date Written: April 2000

Abstract

We review the fiscal theory of the price level. We place special emphasis on the theory's implications for the feasibility of price stability.

Suggested Citation

Christiano, Lawrence J. and Fitzgerald, Terry J., Understanding the Fiscal Theory of the Price Level (April 2000). NBER Working Paper No. w7668, Available at SSRN: https://ssrn.com/abstract=228142

Lawrence J. Christiano (Contact Author)

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Terry J. Fitzgerald

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