Shotgun Wedding: Fiscal and Monetary Policy
综述了财政与货币政策如何共同影响均衡价格水平和利率，通过批判性审视最优预期通胀、最优非预期通胀以及确保价格水平唯一性的条件，并引用历史案例说明财政部与央行之间权力界限的模糊性。
This review describes interactions between monetary and fiscal policies that affect equilibrium price levels and interest rates by critically surveying theories about ( a) optimal anticipated inflation, ( b) optimal unanticipated inflation, and ( c) conditions that secure a nominal anchor in the sense of a unique price level path. We contrast incomplete theories whose inputs are budget-feasible sequences of government-issued bonds and money with complete theories whose inputs are bond/money strategies described as sequences of functions that map time t histories into time t government actions. We cite historical episodes that confirm the theoretical insight that lines of authority between a Treasury and a central bank can be ambiguous, obscure, and fragile.