Burdekin, Richard C.K.; Wohar, Mark E. - In: Journal of Economic Studies 17 (1990) 6, pp. 50-63
The relative impacts of the monetised and non-monetised deficit on output and inflation in the United States are assessed using annual data for the 1923-1982 period. With Federal Reserve purchases of government debt serving as a measure of monetisation, the results of Granger causality tests...