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Monetizing the debt

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  • Daniel L. Thornton

Abstract

A more interesting and economically relevant definition of "monetizing the debt" is based on the Fed's motivation rather than its actions.

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Bibliographic Info

Article provided by Federal Reserve Bank of St. Louis in its journal Economic Synopses.

Volume (Year): (2010)
Issue (Month): ()
Pages:

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Handle: RePEc:fip:fedles:y:2010:n:14

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Keywords: Debt;

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References

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  1. Thomas M. Supel & Richard M. Todd, 1984. "Should currency be priced like cars?," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Spr.
  2. Froyen, Richard T., 1974. "A test of the endogeneity of monetary policy," Journal of Econometrics, Elsevier, vol. 2(2), pages 175-188, July.
  3. Jacobs, Rodney L & Leamer, Edward E & Ward, Michael P, 1979. "Difficulties with Testing for Causation," Economic Inquiry, Western Economic Association International, vol. 17(3), pages 401-13, July.
  4. Thomas J. Sargent & Neil Wallace, 1981. "Some unpleasant monetarist arithmetic," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Fall.
  5. Dallas S. Batten & Daniel L. Thornton, 1984. "How robust are the policy conclusions of the St. Louis equation?: some further evidence," Review, Federal Reserve Bank of St. Louis, issue Jun.
  6. Daniel L. Thornton & Dallas S. Batten, 1984. "Lag length selection and Granger causality," Working Papers 1984-001, Federal Reserve Bank of St. Louis.
  7. Alan S. Blinder, 1982. "On the Monetization of Deficits," NBER Working Papers 1052, National Bureau of Economic Research, Inc.
  8. Geweke, John & Meese, Richard & Dent, Warren, 1983. "Comparing alternative tests of causality in temporal systems : Analytic results and experimental evidence," Journal of Econometrics, Elsevier, vol. 21(2), pages 161-194, February.
  9. Guilkey, David K & Salemi, Michael K, 1982. "Small Sample Properties of Three Tests for Granger-Causal Ordering in a Bivariate Stochastic System," The Review of Economics and Statistics, MIT Press, vol. 64(4), pages 668-80, November.
  10. Allen, Stuart D. & Smith, Michael D., 1983. "Government borrowing and monetary accommodation," Journal of Monetary Economics, Elsevier, vol. 12(4), pages 605-616, November.
  11. Zellner, Arnold, 1979. "Causality and econometrics," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 10(1), pages 9-54, January.
  12. Keith M. Carlson, 1984. "Money growth and the size of the federal debt," Review, Federal Reserve Bank of St. Louis, issue Nov, pages 5-16.
  13. Brian Horrigan & Aris Protopapadakis, 1982. "Federal deficits: a faulty gauge of government's impact on financial markets," Business Review, Federal Reserve Bank of Philadelphia, issue Mar/Apr, pages 3-16.
  14. Wu, De-Min, 1983. "Tests of Causality, Predeterminedness and Exogeneity," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 24(3), pages 547-58, October.
  15. Thornton, Daniel L., 1984. "The government budget constraint with endogenous money," Journal of Macroeconomics, Elsevier, vol. 6(1), pages 57-67.
  16. Michael R. Darby, 1984. "Some Pleasant Monetarist Arithmetic," NBER Working Papers 1295, National Bureau of Economic Research, Inc.
  17. Barth, James & Sickles, Robin & Wiest, Philip, 1982. "Assessing the impact of varying economic conditions on federal reserve behavior," Journal of Macroeconomics, Elsevier, vol. 4(1), pages 47-70.
  18. Melvin, Michael, 1983. "The Vanishing Liquidity Effect of Money on Interest: Analysis and Implications for Policy," Economic Inquiry, Western Economic Association International, vol. 21(2), pages 188-202, April.
  19. John A. Tatom, 1984. "A perspective on the federal deficit problem," Review, Federal Reserve Bank of St. Louis, issue Jun, pages 5-17.
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Cited by:
  1. Belliveau, Stefan, 2012. "Estimates of the fiscal impact multiplier in reduced-form equations," MPRA Paper 37103, University Library of Munich, Germany.

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