How Long to Read The Fiscal Theory of the Price Level

How Long Does it Take to Read The Fiscal Theory of the Price Level?

It takes the average reader 9 hours and 56 minutes to read The Fiscal Theory of the Price Level by John Cochrane

Assuming a reading speed of 250 words per minute. Learn more

Description

A comprehensive account of how government deficits and debt drive inflation Where do inflation and deflation ultimately come from? The fiscal theory of the price level offers a simple answer: Prices adjust so that the real value of government debt equals the present value of taxes less spending. Inflation breaks out when people don’t expect the government to fully repay its debts. The fiscal theory is well suited to today’s economy: Financial innovation undermines money demand, and central banks don’t control the money supply or aggressively change interest rates, invalidating classic theories, while large debts and deficits threaten inflation and constrain monetary policy. This book presents a comprehensive account of this important theory from one of its leading developers and advocates. John Cochrane aims to make fiscal theory useful as a conceptual framework and modeling tool, and for analyzing history and policy. He merges fiscal theory with standard models in which central banks set interest rates, giving a novel account of monetary policy. He generalizes the theory to explain data and make realistic predictions. For example, inflation decreases in recessions despite deficits because discount rates fall, raising the value of debt; specifying that governments promise to partially repay debt avoids classic puzzles and allows the theory to apply at all times, not just during periods of high inflation. Cochrane offers an extensive rethinking of monetary doctrines and institutions through the eyes of fiscal theory, and analyzes the era of zero interest rates and post-pandemic inflation. Filled with research by Cochrane and others, The Fiscal Theory of the Price Level offers important new insights about fiscal and monetary policy.

How long is The Fiscal Theory of the Price Level?

The Fiscal Theory of the Price Level by John Cochrane is 585 pages long, and a total of 149,175 words.

This makes it 197% the length of the average book. It also has 182% more words than the average book.

How Long Does it Take to Read The Fiscal Theory of the Price Level Aloud?

The average oral reading speed is 183 words per minute. This means it takes 13 hours and 35 minutes to read The Fiscal Theory of the Price Level aloud.

What Reading Level is The Fiscal Theory of the Price Level?

The Fiscal Theory of the Price Level is suitable for students ages 12 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy The Fiscal Theory of the Price Level?

The Fiscal Theory of the Price Level by John Cochrane is sold by several retailers and bookshops. However, Read Time works with Amazon to provide an easier way to purchase books.

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