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Government deficits, consumption, and the price level

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Author Info
Barbara Annicchiarico ()
Giancarlo Marini ()

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Abstract

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. Copyright Springer-Verlag Berlin/Heidelberg 2005

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File URL: http://hdl.handle.net/10.1007/s10258-005-0047-1
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Publisher Info
Article provided by Springer in its journal Portuguese Economic Journal.

Volume (Year): 4 (2005)
Issue (Month): 3 (December)
Pages: 193-205
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Handle: RePEc:spr:portec:v:4:y:2005:i:3:p:193-205

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Related research
Keywords: Fiscal deficits; Price stability; Government debt;

Cited by:
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  1. Barbara Annicchiarico, 2003. "Government deficits, wealth effects and the price level in an optimizing model," Working Paper Series 285, European Central Bank. [Downloadable!]
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This page was last updated on 2009-12-17.

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