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Détermination du niveau des prix et finances publiques : le cas du Liban, 1965 – 2005

  • Hassan Ayoub
  • Jérôme Creel
  • Étienne Farvaque

The fiscal theory of the price level makes a distinction between two kinds of policy-making regimes : a Ricardian and a non-Ricardian one. We analyse here the conditions under which these regimes can apply to different periods, some of them being troubled periods, in a given economy. The case of Lebanon, which has successively gone through periods of prosperity, war and reconstruction, offers a case study for the fiscal theory of the price level, and shows its empirical relevance.

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Article provided by De Boeck Université in its journal Revue d'économie du développement.

Volume (Year): 16 (2008)
Issue (Month): 3 ()
Pages: 115-141

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Handle: RePEc:cai:edddbu:edd_223_0115
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  1. Michael Woodford, 2001. "Fiscal Requirements for Price Stability," NBER Working Papers 8072, National Bureau of Economic Research, Inc.
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  17. Thomas J. Sargent & Neil Wallace, 1981. "Some unpleasant monetarist arithmetic," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Fall.
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