Fiscal Theory of the Price Level
Cochrane and Coleman: Quantitative Easing and Asset Price Dynamics
"Wall Street wisdom is that QE is immensely powerful and is stoking financial bubbles. Academics say, 'I take your $100 bills, I give you back 10 $10 bills. Who cares?'"
Cochrane and Coleman: How Do You Solve Inflation?
"The economic problem now is to control inflation and get to work on the supply side of the economy."
Cochrane and Coleman: The Fiscal Theory of the Price Level and Inflation Episodes
John H. Cochrane and Thomas S. Coleman discuss how the fiscal theory of the price level explains inflation.