Browsing Department of Economics (ECO) by Subject "Multiple equilibria"

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Browsing Department of Economics (ECO) by Subject "Multiple equilibria"

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    Title: Regional Debt in Monetary Unions: Is It Inflationary?  Author(s): COOPER, Russell; KEMPF, Hubert; PELED, Dan Date: 2010 Type of Publication: Article Abstract: This paper studies the inflationary implications of interest bearing regional debt in a monetary union. Is this debt simply backed by future taxation with no inflationary consequences? Or will the circulation of region ...