Government deficits, consumption, and the price level

被引：0

作者：

Annicchiarico, B ^{[1
]}

Marini, G

机构：

[1] Univ Bristol, Sch Econ Finance & Management, Bristol BS8 1TH, Avon, England

[2] Univ Roma Tor Vergata, Dept Econ, I-00133 Rome, Italy

来源：

PORTUGUESE ECONOMIC JOURNAL | 2005年 / 4卷 / 03期

关键词：

fiscal deficits; price stability; government debt;

D O I：

10.1007/s10258-005-0047-1

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

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 discipline 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.

引用

页码：193 / 205

页数：13

共 17 条

[1]

AIYAGARI SR, 1985, J MONETARY ECON, V16, P19

[2] Expansionary fiscal contraction: A theoretical exploration [J].