Inflation and the size of government

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Inflation and the size of government

Author Info

Song Han
Casey B. Mulligan

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Abstract

It is commonly supposed in public and academic discourse that inflation and big government are related. We show that economic theory delivers such a prediction only in special cases. As an empirical matter, inflation is significantly positively related to the size of government mainly when periods of war and peace are compared. We find a weak positive peacetime time series correlation between inflation and the size of government and a negative cross-country correlation of inflation with non-defense spending.

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Paper provided by Board of Governors of the Federal Reserve System (U.S.) in its series Finance and Economics Discussion Series with number 2002-1.

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Date of creation: 2002
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Handle: RePEc:fip:fedgfe:2002-1

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This paper has been announced in the following NEP Reports:

NEP-ALL-2002-03-14 (All new papers)

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Other versions:
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