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Indeterminacy, Bubbles, and the Fiscal Theory of Price Level Determination

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NBER1998-03-01 更新2025-01-04 收录
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The recently-developed fiscal theory of price level determination contends that there is an important class of policy rules in which there exists a unique rational expectations solution that shows the price level to be dependent upon fiscal policy and independent of monetary variables. The present

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1998-03-01
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