Date of Award
Doctor of Philosophy
The thesis consists of three essays which investigate the relative effectiveness of monetary and fiscal policy.;The first essay analyzes the effect on the real rate of interest of changes in the rate of price inflation and monetary growth which finance either fiscal policy (changes in the tax rate) or financial policy (changes in the bond/money ratio). The second essay investigates the relevance with respect to market and aggregate output of tax versus money financed government expenditure in a natural rate model. The third essay scrutinizes the prediction made by Turnovsky and Brock (1980) that if fiscal authorities do not have access to the rate of monetary expansion any optimal policy will be time inconsistent.
Towe, Christopher Milburn, "Monetary Versus Fiscal Policy: Three Essays" (1985). Digitized Theses. 1440.