Chen, Xiaoshan; Leeper, Eric M.; Leith, Campbell B. - In: Quantitative economics : QE ; journal of the … 13 (2022) 2, pp. 593-628
stabilize debt until the mid 1990s; (4) The high inflation of the 1970s could have been effectively mitigated by either a switch … norm to eventually stabilize debt, current high debt levels produce only modest inflation; if confidence in those norms … erodes, high debt may deliver substantially more inflation. …