Price Level Determination and Public Finances: The Case of Lebanon (1965–2005)
Type de matériel :
TexteLangue : français Détails de publication : 2008.
Sujet(s) : Ressources en ligne : Abrégé : The fiscal theory of the price level makes a distinction between two kinds of policy-making regimes: a Ricardian and a non-Ricardian regime. We analyze here the conditions under which these regimes can apply in a given economy to different periods, some of which are troubled periods. The case of Lebanon, which has gone through successive periods of prosperity, war, and reconstruction, offers a case study for the fiscal theory of the price level, and demonstrates its empirical relevance.
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The fiscal theory of the price level makes a distinction between two kinds of policy-making regimes: a Ricardian and a non-Ricardian regime. We analyze here the conditions under which these regimes can apply in a given economy to different periods, some of which are troubled periods. The case of Lebanon, which has gone through successive periods of prosperity, war, and reconstruction, offers a case study for the fiscal theory of the price level, and demonstrates its empirical relevance.
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