Government Debt Monetization and Inflation: a Somewhat Jaundiced View
AbstractThe purpose of this paper is to evaluate critically both the traditional theory of governments deficit "monetization" and the New Classical views. Using applied time-series analysis, the authors conclude that there is no evidence to support the thoery that there exists a Granger causal link between budget deficits and inflation with the data of the last half-century of the G-7 countries (excluding Japan).
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Bibliographic InfoPaper provided by University of Ottawa, Department of Economics in its series Working Papers with number 9903e.
Length: 29 pages
Date of creation: 1999
Date of revision:
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INFLATION ; DEFICIT ; DEBT;
Find related papers by JEL classification:
- E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
- H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus
- H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
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