Fiscal Discipline and Exchange Rate Systems

A new 'fiscal' theory of price determination has implications for exchange rate systems and common currency areas. We show that deeper monetary integration requires the discipline of a Ricardian regime; that is, the government must guarantee fiscal solvency for any sequence of prices or ex...

Ausführliche Beschreibung

Gespeichert in:

Bibliographische Detailangaben
Veröffentlicht in:	The Economic journal (London) 2001-10, Vol.111 (474), p.667-690
Hauptverfasser:	Canzoneri, Matthew B., Cumby, Robert E., Diba, Behzad T.
Format:	Artikel
Sprache:	eng
Schlagworte:	Central banks Currency Economic models Economic theory Exchange rate determination Exchange rate systems Exchange rates Fiscal policy Fiscal theory Foreign exchange rates Inflation rates Interest rates International monetary system Macroeconomics Monetary policy Monetary unification Price levels Pricing Studies Surplus
Online-Zugang:	Volltext
Tags:	Tag hinzufügen Keine Tags, Fügen Sie den ersten Tag hinzu!

Schreiben Sie den ersten Kommentar!