Fiscal policy in a monetarist model
By: Preston J. Miller
Series: Federal Reserve Bank of Minneapolis, Research Department staff report -- 67; Staff report (Federal Reserve Bank of Minneapolis. Research Department : Online) -- 67.
Publisher: Federal Reserve Bank of Minneapolis
Published: 1982
Place of publication: Minneapolis, Minn.]
Language: eng
Format: [electronic resource] /
Subjects: Fiscal policy; Mathematical models; Monetary policy
Description: "In a model which exhibits many monetarist properties it is shown that monetary and fiscal policies must be coordinated. The model is populated by overlapping generations of three-period lived agents who can hold fiat money, fiat bonds, and physical capital. A government produces a public good and issues both money and fiat bonds to finance permanent budget deficits. In this model both fiat money and fiat bonds can have value in equilibrium, and their co-existence can allow a more efficient financing of deficits than can a single debt instrument"--Federal Reserve Bank of Minneapolis web site.
Notes: Title from PDF file as viewed on 10/16/2007.

Includes bibliographical references.

Also available in print.

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