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On the low-frequency relationship between public deficits and inflation
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We estimate the low-frequency relationship between fiscal deficits and inflation and pay special attention to its potential time variation by estimating a time-varying VAR model for U. S. data from 1900 to 2011. We find the strongest relationship neither in times of crisis nor in times of high public deficits, but from the mid-1960s up to 1980. Our results suggest that the low-frequency relationship between fiscal deficits and inflation is strongly related to the conduct of monetary policy and its interaction with fiscal policy after World War II.
Nákup knihy
On the low-frequency relationship between public deficits and inflation, Martin Kliem
- Jazyk
- Rok vydání
- 2013
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Doručení
Platební metody
2021 2022 2023
Navrhnout úpravu
- Titul
- On the low-frequency relationship between public deficits and inflation
- Jazyk
- anglicky
- Autoři
- Martin Kliem
- Vydavatel
- Dt. Bundesbank, Press and Public Relations Div.
- Rok vydání
- 2013
- ISBN10
- 3865589057
- ISBN13
- 9783865589057
- Série
- Discussion paper / Deutsche Bundesbank; Eurosystem
- Kategorie
- Podnikání a ekonomie
- Anotace
- We estimate the low-frequency relationship between fiscal deficits and inflation and pay special attention to its potential time variation by estimating a time-varying VAR model for U. S. data from 1900 to 2011. We find the strongest relationship neither in times of crisis nor in times of high public deficits, but from the mid-1960s up to 1980. Our results suggest that the low-frequency relationship between fiscal deficits and inflation is strongly related to the conduct of monetary policy and its interaction with fiscal policy after World War II.