The Fiscal Theory of the Price Level / / John Cochrane.
A comprehensive account of how government deficits and debt drive inflationWhere do inflation and deflation ultimately come from? The fiscal theory of the price level offers a simple answer: Prices adjust so that the real value of government debt equals the present value of taxes less spending. Infl...
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| Superior document: | Title is part of eBook package: De Gruyter Princeton University Press Complete eBook-Package 2023 |
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| Place / Publishing House: | Princeton, NJ : : Princeton University Press, , [2022] ©2023 |
| Year of Publication: | 2022 |
| Language: | English |
| Online Access: | |
| Physical Description: | 1 online resource (584 p.) :; 55 b/w illus. 6 tables. |
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Table of Contents:
- Frontmatter
- Contents
- Preface
- Notation
- Part 1 The Fiscal Theory
- Introduction
- 1 A Two-PeriodModel
- 2 An IntertemporalModel
- 3 A Bit of Generality
- 4 Debt, Deficits, Discount Rates, and Inflation
- 5 Fiscal Theory in Sticky PriceModels
- 6 Fiscal Constraints
- 7 Long-Term Debt Dynamics
- Part II Assets, Rules, and Institutions
- 8 Assets and Choices
- 9 Better Rules
- 10 Balance Sheets and Pots of Assets
- Part III Monetary Doctrines, Institutions, and Some Histories
- 11 Monetary Policies
- 12 Interest Rate Targets
- 13 Monetary Institutions
- 14 Stories and Histories
- 15 Esthetics and Philosophy
- Part IV Money, Interest Rates, and Regimes
- 16 The New-Keynesian Model
- 17 Keynesian Models with Sticky Prices
- 18 History and Implications
- 19 Monetarism
- 20 The Zero Bound
- 21 The COVID-19 Inflation
- 22 Observational Equivalence
- Part V Past, Present, and Future
- 23 Past and Present
- 24 Tests,Models, and Applications
- 25 The Future
- Bibliography
- Index