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Monetary and Fiscal Theories of the Price Level: The Irreconcilable Differences

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NBER2006-03-01 更新2025-01-04 收录
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https://www.nber.org/papers/w12089
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The fiscal theory of the price level (FTPL) has attracted much attention but disagreement remains concerning its defining characteristics. Some writers have emphasized implications regarding interest-rate pegging and determinacy of RE solutions, whereas others have stressed its capacity to generate
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2006-03-01
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