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Government Debt Monetization and Inflation: a Somewhat Jaundiced View

Author

Listed:
  • Seccareccia, M.
  • Sood, A.

Abstract

The 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).

Suggested Citation

  • Seccareccia, M. & Sood, A., 1999. "Government Debt Monetization and Inflation: a Somewhat Jaundiced View," Working Papers 9903e, University of Ottawa, Department of Economics.
    • Handle: RePEc:ott:wpaper:9903e
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    Cited by:

    1. Josh Ryan-Collins & Frank van Lerven, 2018. "Bringing the helicopter to ground: a historical review of fiscal-monetary coordination to support economic growth in the 20th century," Working Papers PKWP1810, Post Keynesian Economics Society (PKES).
    2. Josh Ryan-Collins, 2015. "Is Monetary Financing Inflationary? A Case Study of the Canadian Economy, 1935-75," Economics Working Paper Archive wp_848, Levy Economics Institute.
    3. Avgeris Nikolaos & Katrakilidis Constantinos, 2013. "A Dynamic Panel, Empirical Investigation on the Link between Inflation and Fiscal Imbalances. Does Heterogeneity Matter?," Prague Economic Papers, Prague University of Economics and Business, vol. 2013(2), pages 147-162.

    More about this item

    Keywords

    INFLATION ; DEFICIT ; DEBT;
    All these keywords.

    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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