The fiscal theory of the price level in a world of low interest rates

DOI10.1016/j.jedc.2018.01.006zbMath1401.91310OpenAlexW2766052533MaRDI QIDQ1657212

Wei Cui, Marco Bassetto

Publication date: 13 August 2018

Published in: Journal of Economic Dynamics \& Control (Search for Journal in Brave)

Full work available at URL: http://hdl.handle.net/10230/35520

zbMATH Keywords

inflationinterest ratesdynamic inefficiencygovernment debtfiscal theory of the price level

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Interest rates, asset pricing, etc. (stochastic models) (91G30)

Related Items (3)

Liquidity premiums on government debt and the fiscal theory of the price level ⋮ Monetary policy and liquid government debt ⋮ Redistribution and the monetary‐fiscal policy mix

Cites Work

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• A simple model for study of the determination of the price level and the interaction of monetary and fiscal policy
• Liquidity premiums on government debt and the fiscal theory of the price level
• Necessity of transversality conditions for stochastic problems.
• Equilibrium and government commitment
• Assessing Dynamic Efficiency: Theory and Evidence
• Endogenous Price Fluctuations in an Optimizing Model of a Monetary Economy
• The Fiscal Myth of the Price Level
• The Safety Trap
• A Game-Theoretic View of the Fiscal Theory of the Price Level
• Asset Bubbles and Overlapping Generations

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