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This is complete bullshit. There’s no model with explanatory power.
by junofan 4y ago
This is complete bullshit. There’s no model with explanatory power.
- hackandthink 4y ago"Fiscal Theory of Money" is a nice story. Economists often tell worse stories about money (Graeber). Fiscal Theory of Price Level seems to be inspired by Fiscal Theory of Money. "The literature on the fiscal theory of the price level (FTPL) integrates discussion of monetary and fiscal policy, recognizing that fiscal policy can be a determinant, or even the sole determinant, of the price level" Christopher A Sims: Paper Money https://scholar.google.com/citations?view_op=view_citation&hl=de&user=uXNOHdAAAAAJ&cstart=20&pagesize=80&sortby=pubdate&citation_for_view=uXNOHdAAAAAJ:p2g8aNsByqUC https://scholar.google.com/citations?view_op=view_citation&h... https://en.wikipedia.org/wiki/Christopher_A._Sims https://en.wikipedia.org/wiki/Christopher_A._Sims