by Summary:
My new working paper “The Fiscal Theory of the Price Level in Overlapping Generations Models” is now available here. The paper, joint with Pawel Zabczyk of the IMF, is also available as CEPR Discussion Paper 13432 and as NBER Working Paper 23445. Here is a teaser from the abstract…. Given the recent publicity for deficit spending by Olivier Blanchard writing on his PIIE blog, or the interview with Stephanie Kelton in Barrons, we think our paper is timely. We demonstrate that sensible models with realistic population demographics support some, but not all, of the arguments of Blanchard and Kelton.... Stephanie is now accepted by the heavy hitters. Watch the context of the debate change. Roger Farmer's Economic WindowWhy deficits are sustainable and inflation has a life of its
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Mike Norman considers the following as important: Fiscal Theory of the Price Level
This could be interesting, too:
My new working paper “The Fiscal Theory of the Price Level in Overlapping Generations Models” is now available here. The paper, joint with Pawel Zabczyk of the IMF, is also available as CEPR Discussion Paper 13432 and as NBER Working Paper 23445. Here is a teaser from the abstract…. Given the recent publicity for deficit spending by Olivier Blanchard writing on his PIIE blog, or the interview with Stephanie Kelton in Barrons, we think our paper is timely. We demonstrate that sensible models with realistic population demographics support some, but not all, of the arguments of Blanchard and Kelton.... Stephanie is now accepted by the heavy hitters. Watch the context of the debate change. Roger Farmer's Economic WindowWhy deficits are sustainable and inflation has a life of its
Topics:
Mike Norman considers the following as important: Fiscal Theory of the Price Level
This could be interesting, too:
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My new working paper “The Fiscal Theory of the Price Level in Overlapping Generations Models” is now available here. The paper, joint with Pawel Zabczyk of the IMF, is also available as CEPR Discussion Paper 13432 and as NBER Working Paper 23445. Here is a teaser from the abstract….
Given the recent publicity for deficit spending by Olivier Blanchard writing on his PIIE blog, or the interview with Stephanie Kelton in Barrons, we think our paper is timely. We demonstrate that sensible models with realistic population demographics support some, but not all, of the arguments of Blanchard and Kelton....
Stephanie is now accepted by the heavy hitters. Watch the context of the debate change.
Roger Farmer's Economic Window
Why deficits are sustainable and inflation has a life of its own
Roger Farmer | Distinguished Professor of Economics at UCLA
Why deficits are sustainable and inflation has a life of its own
Roger Farmer | Distinguished Professor of Economics at UCLA