Comment on T. J. Sargent and N. Wallace: "Some Unpleasant Monetarist Arithmetic"
收藏NBER1982-03-01 更新2025-01-04 收录
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https://www.nber.org/papers/w0867
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Sargent and Wallace (S-W) show that, even when inflation is prima facie a strictly monetary phenomenon -- prices are flexible, markets clear and velocity is constant -- inflation is, in the long run, a fiscal phenomenon. This follows from the government budget constraint and the existence of an
提供机构：
美国国家经济研究局
创建时间：
1982-03-01
