THE FISCAL THEORY OF THE PRICE LEVEL: A CRITIQUE*

By W. Buiter. 2002

285 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/ff3ecf6fbb9ee07c17f35c094808b8c8394068a0

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In Economics and Econometrics

Citations in the corpus

Monetary Science, Fiscal Alchemy ∗ (2010, unknown): “We have done nothing mystical here, despite what some critics claim [for example, Buiter (2002) or McCallum (2001)].”
Monetary Theory and Policy, 2nd Edition (2003, background): “12) holds for all possible values of the initial price level and interest rates? Or is it an equilibrium condition that need only hold at the equilibrium price level and interest rate? Buiter (2002) argued strongly that the intertemporal budget balance condition represents a constraint on government”
Understanding Inflation as a Joint Monetary-Fiscal Phenomenon (2016, background): “4These accusations appear in Kocherlakota and Phelan (1999), McCallum (2001), Bassetto (2002), Buiter (2002), and Ljungqvist and Sargent (2004).”
Fiscal Sustainability: The Unpleasant European Case (2004, background): “8 According to Buiter (2002), the intertemporal government budget constraint should be satisfied always and not only in equilibrium.”
Monetary and Fiscal Interactions in Open Economies (2004, background): “Interest in this issues has re-emerged more recently thanks to contributions by Sims (1994), Woodford (2003, Chapter 5) and Buiter (2002) on the fiscal theory of the price level.”
Money as stock (2005, background): “Buiter (2002) writes . . . the 'fiscal theory of the price level' is fatally flawed.”
Ricardian fiscal regimes in the European Union (2008, background): “On the other hand, under such Ricardian fiscal regimes, and as Buiter (2002) recalls, the intertemporal government budget constraint would not be seen as a constraint but rather as a value equation.”