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Who Controls the Price Level?

Author

Listed:
  • Oya S. Erdogdu

    (Ankara University)

Abstract

Under the guidance of monetarist theory and the issue of dominance, this study is a survey of a rapidly growing literature on Fiscal Theory of Price Level, which opens up new horizons in a non –Ricardian world and questions the effectiveness of monetary policy on price level determination.

Suggested Citation

  • Oya S. Erdogdu, 2003. "Who Controls the Price Level?," Macroeconomics 0304012, University Library of Munich, Germany.
  • Handle: RePEc:wpa:wuwpma:0304012
    Note: Type of Document - MSWord/PDF; prepared on PC ; to print on any printer; pages: 21 ; figures: included
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    References listed on IDEAS

    as
    1. McCallum, Bennett T., 2001. "Indeterminacy, bubbles, and the fiscal theory of price level determination," Journal of Monetary Economics, Elsevier, vol. 47(1), pages 19-30, February.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    inflation; price level; FTPL; non Ricardian;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation

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