MACROECONOMIC FEATURES OF THE FRENCH-REVOLUTION

• 成果类型: Article
• 署名作者: SARGENT, TJ; VELDE, FR
• 署名单位: Stanford University; Johns Hopkins University
• 刊物名称: JOURNAL OF POLITICAL ECONOMY
• ISSN/ISSBN: 0022-3808
• DOI: 10.1086/261992
• 发表日期: 1995
• 页码: 474-518
• 关键词: monetary-policy; sustainable plans; time consistency; Sovereign debt; finance; ECONOMY; default; england; france; money

摘要

This paper describes aspects of the French Revolution from the perspective of theories about money and government budget constraints. We describe how unpleasant fiscal arithmetic gripped the Old Regime, how the Estates General responded to reorganize France's fiscal affairs, and how fiscal exigencies impelled the Revolution into a procession of monetary experiments ending in hyperinflation.