{"id":"https://openalex.org/W1600529915","doi":"https://doi.org/10.3386/w18877","title":"Fiscal Limits and Monetary Policy","display_name":"Fiscal Limits and Monetary Policy","publication_year":2013,"publication_date":"2013-03-01","ids":{"openalex":"https://openalex.org/W1600529915","doi":"https://doi.org/10.3386/w18877","mag":"1600529915"},"language":"en","primary_location":{"id":"doi:10.3386/w18877","doi":"https://doi.org/10.3386/w18877","is_oa":true,"landing_page_url":"https://doi.org/10.3386/w18877","pdf_url":"https://doi.org/10.3386/w18877","source":{"id":"https://openalex.org/S2809516038","display_name":"National Bureau of Economic Research","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":["https://openalex.org/P4322614461"],"host_organization_lineage_names":["National Bureau of Economic Research"],"type":"repository"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"National Bureau of Economic Research","raw_type":"report"},"volume":null,"type":"report","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://doi.org/10.3386/w18877","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5112603827","display_name":"Eric Michael Leeper","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I1321305853","display_name":"National Bureau of Economic Research","ror":"https://ror.org/04grmx538","country_code":"US","type":"nonprofit","lineage":["https://openalex.org/I1321305853"]},{"id":"https://openalex.org/I4210119109","display_name":"Indiana University Bloomington","ror":"https://ror.org/02k40bc56","country_code":"US","type":"education","lineage":["https://openalex.org/I4210119109","https://openalex.org/I592451"]},{"id":"https://openalex.org/I56590836","display_name":"Monash University","ror":"https://ror.org/02bfwt286","country_code":"AU","type":"education","lineage":["https://openalex.org/I56590836"]},{"id":"https://openalex.org/I592451","display_name":"Indiana University","ror":"https://ror.org/01kg8sb98","country_code":"US","type":"education","lineage":["https://openalex.org/I592451"]}],"countries":["AU","US"],"is_corresponding":true,"raw_author_name":"Eric Leeper","raw_affiliation_strings":["Department of Economics 304 Wylie Hall Indiana University Bloomington, IN 47405 and Monash University, Australia","Indiana University, Monash University and NBER;","NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Economics 304 Wylie Hall Indiana University Bloomington, IN 47405 and Monash University, Australia","institution_ids":["https://openalex.org/I4210119109","https://openalex.org/I56590836"]},{"raw_affiliation_string":"Indiana University, Monash University and NBER;","institution_ids":["https://openalex.org/I56590836","https://openalex.org/I592451"]},{"raw_affiliation_string":"NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138","institution_ids":["https://openalex.org/I1321305853"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":4,"corresponding_author_ids":["https://openalex.org/A5112603827"],"corresponding_institution_ids":["https://openalex.org/I1321305853","https://openalex.org/I4210119109","https://openalex.org/I56590836","https://openalex.org/I592451"],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":true,"cited_by_count":40,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.6679999828338623,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.6679999828338623,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11621","display_name":"Fiscal Policies and Political Economy","score":0.29420000314712524,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12137","display_name":"Economic theories and models","score":0.014299999922513962,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/fiscal-limits","display_name":"fiscal limits","score":0.9610000252723694},{"id":"https://openalex.org/keywords/public-debt","display_name":"public debt","score":0.8220000267028809},{"id":"https://openalex.org/keywords/debt-to-gdp-ratio","display_name":"debt-to-GDP ratio","score":0.8989999890327454},{"id":"https://openalex.org/keywords/nominal-debt","display_name":"nominal debt","score":0.6650000214576721},{"id":"https://openalex.org/keywords/inflation","display_name":"inflation","score":0.7599999904632568},{"id":"https://openalex.org/keywords/monetary-policy","display_name":"monetary policy","score":0.7580000162124634},{"id":"https://openalex.org/keywords/fiscal-policy","display_name":"fiscal policy","score":0.9409999847412109},{"id":"https://openalex.org/keywords/bond-market","display_name":"bond market","score":0.5910000205039978},{"id":"https://openalex.org/keywords/debt-default","display_name":"debt default","score":0.4020000100135803},{"id":"https://openalex.org/keywords/inflation-targeting","display_name":"inflation targeting","score":0.3610000014305115}],"concepts":[{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.7911148071289062},{"id":"https://openalex.org/C126285488","wikidata":"https://www.wikidata.org/wiki/Q178476","display_name":"Monetary policy","level":2,"score":0.6094129085540771},{"id":"https://openalex.org/C524878704","wikidata":"https://www.wikidata.org/wiki/Q187021","display_name":"Fiscal policy","level":2,"score":0.5482698678970337},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.4586489498615265},{"id":"https://openalex.org/C165556158","wikidata":"https://www.wikidata.org/wiki/Q83937","display_name":"Keynesian economics","level":1,"score":0.43019503355026245},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.42571109533309937}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.3386/w18877","doi":"https://doi.org/10.3386/w18877","is_oa":true,"landing_page_url":"https://doi.org/10.3386/w18877","pdf_url":"https://doi.org/10.3386/w18877","source":{"id":"https://openalex.org/S2809516038","display_name":"National Bureau of Economic Research","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":["https://openalex.org/P4322614461"],"host_organization_lineage_names":["National Bureau of Economic Research"],"type":"repository"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"National Bureau of Economic Research","raw_type":"report"},{"id":"pmh:oai:RePEc:nbr:nberwo:18877","doi":null,"is_oa":false,"landing_page_url":"http://www.nber.org/papers/w18877.pdf","pdf_url":"http://www.nber.org/papers/w18877.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},{"id":"mag:3123552769","doi":null,"is_oa":false,"landing_page_url":"https://EconPapers.repec.org/RePEc:nbr:nberwo:18877","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"RePEc: Research Papers in Economics","raw_type":null}],"best_oa_location":{"id":"doi:10.3386/w18877","doi":"https://doi.org/10.3386/w18877","is_oa":true,"landing_page_url":"https://doi.org/10.3386/w18877","pdf_url":"https://doi.org/10.3386/w18877","source":{"id":"https://openalex.org/S2809516038","display_name":"National Bureau of Economic Research","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":["https://openalex.org/P4322614461"],"host_organization_lineage_names":["National Bureau of Economic Research"],"type":"repository"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"National Bureau of Economic Research","raw_type":"report"},"sustainable_development_goals":[],"sustainable_development_goals_aurora":[{"id":"https://metadata.un.org/sdg/8","score":0.6700000166893005,"display_name":"Decent work and economic growth"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W1600529915.pdf","grobid_xml":"https://content.openalex.org/works/W1600529915.grobid-xml"},"referenced_works_count":42,"referenced_works":["https://openalex.org/W91023640","https://openalex.org/W104889860","https://openalex.org/W612995355","https://openalex.org/W1505483790","https://openalex.org/W1559183328","https://openalex.org/W1559198035","https://openalex.org/W1601269418","https://openalex.org/W1603265961","https://openalex.org/W1605859073","https://openalex.org/W1678495386","https://openalex.org/W1971840442","https://openalex.org/W1985243191","https://openalex.org/W2016510098","https://openalex.org/W2079768115","https://openalex.org/W2094730460","https://openalex.org/W2096925184","https://openalex.org/W2103820029","https://openalex.org/W2108331388","https://openalex.org/W2110853440","https://openalex.org/W2121045127","https://openalex.org/W2140347937","https://openalex.org/W2144395073","https://openalex.org/W2147710955","https://openalex.org/W2148806103","https://openalex.org/W2171017643","https://openalex.org/W2207072859","https://openalex.org/W2236527719","https://openalex.org/W2891624201","https://openalex.org/W2891745367","https://openalex.org/W2982776031","https://openalex.org/W3021150978","https://openalex.org/W3094419395","https://openalex.org/W3121836009","https://openalex.org/W3122394500","https://openalex.org/W3122866447","https://openalex.org/W3123810842","https://openalex.org/W3124992776","https://openalex.org/W3126075974","https://openalex.org/W3212843175","https://openalex.org/W4233117719","https://openalex.org/W4385853754","https://openalex.org/W6688175478"],"related_works":["https://openalex.org/W2120954900","https://openalex.org/W1979664790","https://openalex.org/W2890786846","https://openalex.org/W2156691299","https://openalex.org/W2188508602","https://openalex.org/W2028258261","https://openalex.org/W1561877242","https://openalex.org/W2797644262","https://openalex.org/W1503146918","https://openalex.org/W7100387893"],"abstract_inverted_index":{"Every":[0],"economy":[1],"faces":[2],"a":[3,37,64,77],"\"fiscal":[4],"limit\"":[5],"that":[6,13],"delivers":[7],"the":[8,86],"maximum":[9],"government":[10],"debt-GDP":[11],"ratio":[12],"can":[14,52,75],"be":[15,53,76],"sustained":[16],"without":[17],"appreciable":[18],"risk":[19],"of":[20,79,88],"default":[21],"or":[22],"higher":[23,56],"inflation.But":[24],"governments":[25],"in":[26,41],"advanced":[27],"economies":[28,45],"issue":[29],"substantial":[30],"nominal":[31,34,42],"debt":[32,35,51],"and":[33,58],"is":[36],"commitment":[38],"to":[39,70],"repay":[40],"units.When":[43],"such":[44],"are":[46],"approaching":[47],"their":[48],"fiscal":[49,73],"limits,":[50],"devalued":[54],"through":[55],"current":[57],"future":[59],"inflation":[60],"rates.The":[61],"paper":[62],"develops":[63],"simple":[65],"bond":[66],"market":[67],"supply-demand":[68],"apparatus":[69],"explain":[71],"how":[72],"policy":[74,83],"source":[78],"inflation,":[80],"while":[81],"monetary":[82],"merely":[84],"determines":[85],"timing":[87],"inflation.":[89]},"counts_by_year":[{"year":2026,"cited_by_count":2},{"year":2025,"cited_by_count":2},{"year":2024,"cited_by_count":3},{"year":2023,"cited_by_count":4},{"year":2022,"cited_by_count":3},{"year":2021,"cited_by_count":1},{"year":2020,"cited_by_count":2},{"year":2019,"cited_by_count":3},{"year":2018,"cited_by_count":1},{"year":2017,"cited_by_count":2},{"year":2016,"cited_by_count":8},{"year":2015,"cited_by_count":2},{"year":2014,"cited_by_count":5},{"year":2013,"cited_by_count":2}],"updated_date":"2026-10-16T09:59:22.235173","created_date":"2016-06-24T00:00:00"}