The Fiscal Theory of Price Level with a Bubble
收藏NBER2020-05-01 更新2025-01-04 收录
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https://www.nber.org/papers/w27116
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资源简介：
This paper incorporates a bubble term in the standard Fiscal Theory of the Price Level equation to explain why countries with persistently negative primary surpluses can have a positively valued currency and low inflation. It also provides two illustrative models with closed-form solutions in which
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美国国家经济研究局创建时间：
2020-05-01
