The Fiscal Theory of the Price Level - Hardcover
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Language:EnglishPublisher:Princeton University PressISBN-13:9780691242248ISBN-10:691242240UPC:9780691242248Book Category:Business & EconomicsBook Subcategory:Economics, Money & Monetary Policy, InflationBook Topic:MacroeconomicsSize:10.10 x 7.30 x 1.60 inchesWeight:2.6522Product ID:SC6KNVYPKM
The Fiscal Theory of the Price Level
A comprehensive account of how government deficits and debt drive inflation
Where 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. Inflation breaks out when people don't expect the government to fully repay its debts. The fiscal...Language:EnglishPublisher:Princeton University PressISBN-13:9780691242248ISBN-10:691242240UPC:9780691242248Book Category:Business & EconomicsBook Subcategory:Economics, Money & Monetary Policy, InflationBook Topic:MacroeconomicsSize:10.10 x 7.30 x 1.60 inchesWeight:2.6522Product ID:SC6KNVYPKM
John H. Cochrane is the Rose-Marie and Jack Anderson Senior Fellow at the Hoover Institution at Stanford University. He was previously a professor of finance at the University of Chicago Booth School of Business. His previous books include Asset Pricing (Princeton).
Publisher: Princeton University Press
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