Understanding Inflation as a Joint Monetary-Fiscal Phenomenon

Leeper, E. M. and Leith, C. (2016) Understanding Inflation as a Joint Monetary-Fiscal Phenomenon. Working Paper. National Bureau of Economic Research, Cambridge, Massachusetts. (doi: 10.3386/w21867).

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Publisher's URL: https://www.nber.org/papers/w21867

Abstract

We develop the theory of price-level determination in a range of models using both ad hoc policy rules and jointly optimal monetary and fiscal policies and discuss empirical issues that arise when trying to identify monetary-fiscal regime. The article concludes with directions in which theoretical and empirical developments may go.

Item Type:Research Reports or Papers (Working Paper)
Additional Information:NBER Working Paper No. 21867
Status:Published
Glasgow Author(s) Enlighten ID:Leith, Professor Campbell and Leeper, Professor Eric Michael
Authors: Leeper, E. M., and Leith, C.
College/School:College of Social Sciences > Adam Smith Business School > Economics
Publisher:National Bureau of Economic Research

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