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) |
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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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