Siu, Henry E. (contributor) - 2002 - [Elektronische Ressource]
role of state-contingent inflation as a fiscal shock absorber
inaneconomywithnominalrigidities … planner must balance the shock absorbing
benefits of state-contingent inflation against the associated resource misallocation … displays very
little volatility in inflation. Tax rates and real government debt exhibit behavior
similar to a random walk. For …