On the low-frequency relationship between public deficits and inflation : conference paper

Kriwoluzky, Alexander; Kliem, Martin; Sarferaz, Samad

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.

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Year of publication:	2013
Authors:	Kliem, Martin ; Kriwoluzky, Alexander ; Sarferaz, Samad
Published in:	Beiträge zur Jahrestagung des Vereins für Socialpolitik 2013: Wettbewerbspolitik und Regulierung in einer globalen Wirtschaftsordnung Session: Expectation and fluctuations ; V2
Publisher:	[Kiel : ZBW
Subject:	Time-Varying VAR \| Inflation \| Public Deficits \| Haushaltsdefizit \| Budget deficit \| VAR-Modell \| VAR model \| USA \| United States \| 1900-2011

Extent:	Online-Ressource (29 S.) graph. Darst.
Conferences:	Jahrestagung des Vereins für Socialpolitik: Wettbewerbspolitik und Regulierung in einer globalen Wirtschaftsordnung : 2013
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Konferenzschrift ; Graue Literatur ; Non-commercial literature
Language:	English
Notes:	Systemvoraussetzungen: Acrobat Reader
Other identifiers:	hdl:10419/80000 [Handle]
Classification:	E42 - Monetary Systems; Standards; Regimes; Government and the Monetary System ; E58 - Central Banks and Their Policies ; E61 - Policy Objectives; Policy Designs and Consistency; Policy Coordination ; Geld, Inflation, Kapitalmarkt ; Finanzwissenschaft
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10010338389