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Government deficits, consumption, and the price level
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Orientador(es)
Resumo(s)
This paper investigates the dynamics of the price level in a continuous time monetary version of the Yaari-Blanchard overlapping generations model with capital accumulation. It is shown that there is an interaction between fiscal disci- pline and price stability when the government budget is intertemporally balanced. Relevant implications are that high debt and slow adjustment adversely affect both prices and capital accumulation.
Descrição
Palavras-chave
Fiscal deficits Price stability Government debt
Contexto Educativo
Citação
Annicchiarico, Barbara e Giancarlo Marini (2005). "Government deficits, consumption, and the price level". Portuguese Economic Journal, 4(3):193-205
Editora
Springer Verlag