Macroeconomic features of the French revolution

Thomas Sargent, François R. Velde

    Research output: Contribution to journalArticle

    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.

    Original languageEnglish (US)
    Pages (from-to)474-518
    Number of pages45
    JournalJournal of Political Economy
    Volume103
    Issue number3
    StatePublished - 1995

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    Fiscal
    Macroeconomics
    France
    Hyperinflation
    Government budget
    Experiment
    Budget constraint

    ASJC Scopus subject areas

    • Economics and Econometrics

    Cite this

    Sargent, T., & Velde, F. R. (1995). Macroeconomic features of the French revolution. Journal of Political Economy, 103(3), 474-518.

    Macroeconomic features of the French revolution. / Sargent, Thomas; Velde, François R.

    In: Journal of Political Economy, Vol. 103, No. 3, 1995, p. 474-518.

    Research output: Contribution to journalArticle

    Sargent, T & Velde, FR 1995, 'Macroeconomic features of the French revolution', Journal of Political Economy, vol. 103, no. 3, pp. 474-518.
    Sargent, Thomas ; Velde, François R. / Macroeconomic features of the French revolution. In: Journal of Political Economy. 1995 ; Vol. 103, No. 3. pp. 474-518.
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