Leeper, E. M. and Leith, C. (2016) Understanding inflation as a joint monetary-fiscal phenomenon. In: Taylor, J. B. and Uhlig, H. (eds.) Handbook of Macroeconomics Volume 2. Elsevier: Amsterdam, pp. 2305-2409. ISBN 9780444594778 (doi: 10.1016/bs.hesmac.2016.03.012)
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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: | Book Sections |
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Status: | Published |
Glasgow Author(s) Enlighten ID: | Leeper, Professor Eric Michael and Leith, Professor Campbell |
Authors: | Leeper, E. M., and Leith, C. |
College/School: | College of Social Sciences > Adam Smith Business School > Economics |
Publisher: | Elsevier |
ISBN: | 9780444594778 |
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