From ec9f5f179a5324418c80155a9b139dee03d65fd7 Mon Sep 17 00:00:00 2001 From: thomassargent30 Date: Mon, 19 Jun 2023 14:39:35 +0800 Subject: [PATCH] Tom's June 19 edit of cagan_ree lecture --- lectures/cagan_ree.md | 4 +++- 1 file changed, 3 insertions(+), 1 deletion(-) diff --git a/lectures/cagan_ree.md b/lectures/cagan_ree.md index 8f30ee05..edfc68ef 100644 --- a/lectures/cagan_ree.md +++ b/lectures/cagan_ree.md @@ -31,7 +31,9 @@ import matplotlib.pyplot as plt We'll use linear algebra first to explain and then do some experiments with a "fiscal theory of the price level". A fiscal theory of the price level was described by Thomas Sargent and Neil Wallace in chapter 5 of -a 1981 article title "Unpleasant Monetarist Arithmetic". The theory has been extended, criticized, and applied by John Cochrane in {cite}`cochrane2023fiscal`. +{cite}`sargent2013rational`, which reprints a 1981 article title "Unpleasant Monetarist Arithmetic". + +The theory has been extended, criticized, and applied by John Cochrane in {cite}`cochrane2023fiscal`. In another lecture, we'll describe some historical episodes in which the elemental forces at work in the fiscal theory help to explain some early twentieth century hyperinflations that occurred in the wake of World War I.