The Interactions between Monetary and Fiscal Policies in Britain during the French Wars.

Summary This thesis studies the monetary and fiscal policies implemented in England to finance the Napoleonic Wars (1793-1815). Using a historical case study, the effects of fiscal policy on the price level are elucidated. Changes in the public deficit affect the prices of certain assets and the general price level. This effect occurs through the central bank's balance sheet, when the latter buys public debt that agents assume is not backed by tax revenues.