| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w9084 |
| 来源ID | Working Paper 9084 |
| The Price Level, the Quantity Theory of Money, and the Fiscal Theory of the Price Level | |
| David B. Gordon; Eric M. Leeper | |
| 发表日期 | 2002-07-25 |
| 出版年 | 2002 |
| 语种 | 英语 |
| 摘要 | We consider price level determination from the perspective of portfolio choice. Arbitrages among money balances, bonds, and investment goods determine their relative demands. Returns to real balance holdings (transactions services), the nominal interest rate, and after-tax returns to investment goods determine the relative values of nominal and real assets. Since expectations of government policies ultimately determine the expected returns to both nominal and real assets, monetary and fiscal policies jointly determine the price level. Special cases of the fiscal and monetary policies considered produce the quantity theory of money and the fiscal theory of the price level. |
| 主题 | Macroeconomics ; Business Cycles ; Money and Interest Rates |
| URL | https://www.nber.org/papers/w9084 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/566693 |
| 推荐引用方式 GB/T 7714 | David B. Gordon,Eric M. Leeper. The Price Level, the Quantity Theory of Money, and the Fiscal Theory of the Price Level. 2002. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w9084.pdf（262KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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