This chapter begins with a number of important preliminary issues including the distinction
between rules and discretion in monetary policy; the feasibility of committed rule-like …

This article surveys the literature on sovereign debt sustainability from its origins in the mid-
1980s to the present and focuses on four debates. First, we evaluate the shift from an …

We develop a new class of general-equilibrium models with partially unfunded debt to
propose a fiscal theory of persistent inflation. In response to business cycle shocks, the …

Seafood holds promise for helping meet nutritional needs at a low climate impact. Here, we
assess the nutrient density and greenhouse gas emissions, weighted by production method …

The Fiscal Theory of the Price Level Page 1 Page 2 The Fiscal Theory of the Price Level john h.
cochrane princeton university press princeton and oxford Page 3 Copyright c 2023 by …

We present a model embodying moderate amounts of nominal rigidities that accounts for the
observed inertia in inflation and persistence in output. The key features of our model are …

We propose a simple model of the international monetary system. We study the world supply
and demand for reserve assets denominated in different currencies under a variety of …

The paper reviews the recent literature on monetary policy rules. We exposit the monetary
policy design problem within a simple baseline theoretical framework. We then consider the …

Monetary and fiscal policy interactions are studied in a stochastic maximizing model. Policy
is 'active'or 'passive'depending on its responsiveness to government debt shocks. Schemes …

A representative-agent model with money holdings motivated by transactions costs, a fiscal
authority that taxes and issues debt, no production, and a convenient functional form for …