A Fiscal Theory of Monetary Policy with Partially-Repaid Long-Term Debt
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https://www.nber.org/papers/w26745
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资源简介：
I construct a simple model with sticky prices and interest rate targets, closed by fiscal theory of the price level with long-term debt and fiscal and monetary policy rules. Fiscal surpluses rise following deficits, to repay accumulated debt, but surpluses do not respond to all values of unexpected
提供机构：
美国国家经济研究局
创建时间：
2020-02-01
