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Fiscal policy in a monetarist model
Content Provider | Library of Congress - Books/Printed Material |
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Author | Miller, Preston J. |
Temporal Coverage | 1982 |
Abstract | "In a model which exhibits many monetarist properties it is shown that monetary and fiscal policies must be coordinated. The model is populated by overlapping generations of three-period lived agents who can hold fiat money, fiat bonds, and physical capital. A government produces a public good and issues both money and fiat bonds to finance permanent budget deficits. In this model both fiat money and fiat bonds can have value in equilibrium, and their co-existence can allow a more efficient financing of deficits than can a single debt instrument"--Federal Reserve Bank of Minneapolis web site. |
Language | English |
Publisher | Federal Reserve Bank of Minneapolis, |
Publisher Place | Minneapolis, Minn. |
Part of Series | Catalog |
Requires | HTML5 supported browser |
Access Restriction | Open |
Subject Keyword | Fiscal Policy Mathematical Models Monetary Policy |
Subject Domain (in LCSH) | Fiscal policy--Mathematical models |
Subject Domain (in LCSH) | Monetary policy--Mathematical models |
Subject Domain (in LCC) | HB1 |
Content Type | Text |
Resource Type | Book |