haku: @author Ho, M. / yhteensä: 1
viite: 1 / 1
« edellinen | seuraava »
| Tekijä: | Barnett, R. Ho, M. |
| Otsikko: | Sunspots, currency substitution, and inflationary finance |
| Lehti: | Journal of International Economics
1996 : AUG, VOL. 41:1/2, p. 73-94 |
| Asiasana: | CURRENCY SUBSTITUTION INFLATION FINANCE |
| Kieli: | eng |
| Tiivistelmä: | This paper explores some issues surrounding inflationary finance of government deficits in a two-country world with currency substitution. Each country's monetary policy is assumed to be subordinate to fiscal policy. Private agents, knowing that the monetary authorities cannot commit themselves to fixed policy rules, substitute among the monies. Each monetary authority is then forced to accomodate the actions of the fiscal authorities and private agents by setting monetary growth rate consistent with their decisions. |
« edellinen | seuraava »
SCIMA