Long-term Debt and Optimal Policy in the Fiscal Theory of the Price Level
收藏NBER1998-10-01 更新2025-01-04 收录
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https://www.nber.org/papers/w6771
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The fiscal theory says that the price level is determined by the ratio of nominal debt to the present value of real primary surpluses. I analyze long-term debt and optimal policy in the fiscal theory. I find that the maturity structure of the debt matters. For example, it determines whether news of
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美国国家经济研究局创建时间：
1998-10-01
