Non-Ricardian fiscal policies in an open monetary union

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Series Details No.169, April 2002
Publication Date April 2002
ISSN 1016-8060
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The fiscal theory of the price level has challenged the conventional view of that monetary factors drive prices and exchange rates and has also provided a rationale for fiscal restrictions in a monetary union. This paper extends the main results of this theory in the context of an open monetary union model.

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