Price‐Level Determination When Tax Payments Are Required in Money*
研究在动态禀赋经济中，要求以货币支付固定实际价值的税款能否决定价格水平，发现仅靠购买实物商品时价格水平有上界但不唯一，若政府同时使用货币转移并固定名义支出则可唯一确定。
Abstract Can the price level be determined by a requirement that taxes should be paid in money? We study this question in a dynamic endowment economy where households have to pay a money tax of a fixed real value and money enters the economy through government expenditures and open market operations. When government expenditures only consist of purchases of real goods, the price level is bounded from above, but not uniquely determined. A unique price level can be obtained if the government also has access to money transfers, and uses these to fix its expenditure level in nominal terms.