On the desirability of fiscal constraints in a monetary union
by V. V. Chari
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"The desirability of fiscal constraints in monetary unions depends critically on whether the monetary authority can commit to follow its policies. If it can commit, then debt constraints can only impose costs. If it cannot commit, then fiscal policy has a free-rider problem, and debt constraints may be desirable. This type of free-rider problem is new and arises only because of a time inconsistency problem"--National Bureau of Economic Research web site.
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Subjects
Fiscal policy, Monetary unionsShowing 2 featured editions. View all 2 editions?
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1
On the desirability of fiscal constraints in a monetary union
2004, National Bureau of Economic Research
Electronic resource
in English
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On the desirability of fiscal constraints in a monetary union
2003, Federal Reserve Bank of Minneapolis
Electronic resource
in English
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Book Details
Edition Notes
Includes bibliographical references.
Title from PDF file as viewed on 1/21/2005.
Also available in print.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.
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"The desirability of fiscal constraints in monetary unions depends critically on whether the monetary authority can commit to follow its policies. If it can commit, then debt constraints can only impose costs. If it cannot commit, then fiscal policy has a free-rider problem, and debt constraints may be desirable. This type of free-rider problem is new and arises only because of a time inconsistency problem"--Federal Reserve Bank of Minneapolis web site.
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| December 11, 2020 | Edited by MARC Bot | import existing book |
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| December 5, 2010 | Edited by Open Library Bot | Added subjects from MARC records. |
| December 10, 2009 | Created by WorkBot | add works page |