Macroeconomic Features of the French Revolution
- 1 June 1995
- journal article
- research article
- Published by University of Chicago Press in Journal of Political Economy
- Vol. 103 (3) , 474-518
- https://doi.org/10.1086/261992
Abstract
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.This publication has 3 references indexed in Scilit:
- Some Unpleasant Monetarist ArithmeticQuarterly Review, 1981
- On the Time Consistency of Optimal Policy in a Monetary EconomyEconometrica, 1978
- Rational Expectations and the Dynamics of HyperinflationInternational Economic Review, 1973