Eric Leeper on the Interactions of Fiscal and Monetary Policy
Macro Musings with David Beckworth
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The Fiscal Theory of the Price Level
There's a narrative that has grown up around fed. We're so worried about thefed is wanting to do every little minutia detail. What they don't know is a theory of inflation, he says. Caviot: The backing of government liabilities is central to determining their value. "The amount of actually unbacked currency in the us economy is tiny"
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