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dc.contributor.authorFan, Jingwenen_US
dc.contributor.authorMinford, Patricken_US
dc.date.accessioned2012-11-02T14:28:47Z-
dc.date.available2012-11-02T14:28:47Z-
dc.date.issued2011en_US
dc.identifier.urihttp://hdl.handle.net/10419/65795-
dc.description.abstractWe investigate whether the Fiscal Theory of the Price Level can explain UK inflation in the 1970s. We find that fiscal policy was non-Ricardian and money growth entirely endogenous in this period. The implied model of inflation is tested in two ways: for its trend using cointegration analysis and for its dynamics using the method of indirect inference. We find that it is not rejected. We also find that the model's errors indicate omitted dynamics which merit further research.en_US
dc.language.isoengen_US
dc.publisherCardiff Univ, Cardiff Business School, Economics Section Cardiffen_US
dc.relation.ispartofseriesCardiff Economics Working Papers E2009/26en_US
dc.subject.jelE31en_US
dc.subject.jelE37en_US
dc.subject.jelE62en_US
dc.subject.jelE65en_US
dc.subject.ddc330en_US
dc.subject.keywordUK Inflationen_US
dc.subject.keywordFiscal Theory of the Price Levelen_US
dc.subject.keywordCointegration testen_US
dc.subject.keywordBootstrap simulationen_US
dc.subject.keywordIndirect inferenceen_US
dc.subject.keywordWald statisticen_US
dc.subject.stwFinanzpolitiken_US
dc.subject.stwÖffentliche Ausgabenen_US
dc.subject.stwInflationsrateen_US
dc.subject.stwBootstrap-Verfahrenen_US
dc.subject.stwGroßbritannienen_US
dc.titleCan the fiscal theory of the price level explain UK inflation in the 1970s?en_US
dc.typeWorking Paperen_US
dc.identifier.ppn622724479en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
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