财政主导

令人不快的货币主义算术

赤字迫使货币化。

主动与被动

与泰勒规则相关。

争论

央行独立性。

常见问题

简单来说？

债务束缚货币政策。

为何通胀？

债务货币化。

来源核查日期：2026-10-26

参考文献

1. Sargent, T. J., & Wallace, N. (1981). Some unpleasant monetarist arithmetic. Federal Reserve Bank of Minneapolis Quarterly Review, 5(3), 1–17. 经典起点。
2. Leeper, E. M. (1991). Equilibria under 'active' and 'passive' monetary and fiscal policies. Journal of Monetary Economics, 27(1), 129–147. 主动与被动政策。
3. Sims, C. A. (1994). A simple model for study of the determination of the price level and the interaction of monetary and fiscal policy. Economic Theory, 4(3), 381–399. 价格水平财政理论。
4. Woodford, M. (1995). Price-level determinacy without control of a monetary aggregate. Carnegie-Rochester Conference Series on Public Policy, 43, 1–46. 价格决定性。
5. Woodford, M. (2001). Fiscal requirements for price stability. Journal of Money, Credit and Banking, 33(3), 669–728. 稳定的财政条件。
6. Cochrane, J. H. (2001). Long-term debt and optimal policy in the fiscal theory of the price level. Econometrica, 69(1), 69–116. 长期债务。
7. Bassetto, M. (2002). A game-theoretic view of the fiscal theory of the price level. Econometrica, 70(6), 2167–2195. 重要批评。