Textbooks in Government Finance
نویسندگان
چکیده
منابع مشابه
Government Finance in the Wake of Currency
This paper addresses two questions: (i) how do governments actually pay for the Þscal costs associated with currency crises; and (ii) what are the implications of different Þnancing methods for post-crisis rates of inßation and depreciation? We study these questions using a general equilibrium model in which a currency crisis is triggered by prospective government deÞcits. We then use our model...
متن کاملRochester Government Finance in the Wake of Currency Crises Government Finance in the Wake of Currency Crises *
This paper addresses two questions: (i) how do governments actually pay for the Þscal costs associated with currency crises; and (ii) what are the implications of different Þnancing methods for post-crisis rates of inßation and depreciation? We study these questions using a general equilibrium model in which a currency crisis is triggered by prospective government deÞcits. We then use our model...
متن کاملTwo Equivalence Theorems for Government Finance
This paper studies the effects of a path change in government debt composition and aggregate transfers on allocations and prices. It is shown that the effects are zero under some agent-specific transfer scheme even when markets are incomplete. If markets are complete, then the effects are zero under any transfer scheme that leaves each agent’s lifetime resource unchanged if and only if agents a...
متن کاملGovernment Finance in the Wake of Currency Crises∗
We address three questions: (i) Can classical models be reconciled with the fact that many crises are marked by high rates of depreciation and small increases in seignorage revenue? (ii) What are the implications of different financing methods for post-crisis rates of inflation and depreciation? (iii) How do governments pay for the fiscal costs associated with currency crises? To study these qu...
متن کاملDynamic effects of government expenditure in a finance constrained economy
This paper introduces constant government expenditure inWoodford’s finance constrained model (J. Econ. Theory, 1986) with capital–labor substitution as presented in Grandmont, Pintus and de Vilder (J. Econ. Theory, 1998) and investigates how government expenditure influences local dynamics near multiple steady states, depending upon the elasticity of substitution between capital and labor in pr...
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ژورنال
عنوان ژورنال: Journal of Political Economy
سال: 1922
ISSN: 0022-3808,1537-534X
DOI: 10.1086/253427