To refer to this page use:
|Abstract:||Drastic changes in central bank operations and monetary institutions in recent years have made previously standard approaches to explaining the determination of the price level obsolete. Recent expansions of central bank balance sheets and of the levels of rich-country sovereign debt, as well as the evolving political economy of the European Monetary Union, have made it clear that fiscal policy and monetary policy are intertwined. Our thinking and teaching about inflation, monetary policy, and fiscal policy should be based on models that recognize fiscal-monetary policy interactions.|
|Citation:||Sims, CA. (2013). Paper money. American Economic Review, 103 (2), 563 - 584. doi:10.1257/aer.103.2.563|
|Pages:||563 - 584|
|Type of Material:||Journal Article|
|Journal/Proceeding Title:||American Economic Review|
|Version:||Final published version. Article is made available in OAR by the publisher's permission or policy.|
Items in OAR@Princeton are protected by copyright, with all rights reserved, unless otherwise indicated.