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DublinCore-FeldWertSprache
dc.contributor.authorSolveen, Ralphen
dc.date.accessioned2011-06-30T15:13:01Z-
dc.date.available2011-06-30T15:13:01Z-
dc.date.issued1996-
dc.identifier.citation|nInstitut für Weltwirtschaft (IfW) |lKiel |y1996en
dc.identifier.urihttp://hdl.handle.net/10419/47141-
dc.language.isogeren
dc.publisher|aKiel Institute of World Economics (IfW) |cKielen
dc.relation.ispartofseries|aKiel Working Paper |x750en
dc.subject.jelC22en
dc.subject.jelE58en
dc.subject.ddc330en
dc.subject.stwGeldpolitiken
dc.subject.stwZentralbankautonomieen
dc.subject.stwÖffentliche Schuldenen
dc.subject.stwHaushaltsdefiziten
dc.subject.stwInflationen
dc.subject.stwOECD-Staatenen
dc.subject.stwTheorieen
dc.titleGeldpolitik und Staatsverschuldung - welche Rolle spielt die Unabhängigkeit der Notenbank?-
dc.typeWorking Paperen
dc.description.abstracttransTwo theoretical modeis are developed. Both describe the connection between public debt and inflation. In the first one, monetary policy inflates the economy to rcduce the bürden of existing debt. In the second one, the causality runs directly from the level of public debt to inflation via a change in the velocity of money. In both modeis the independence of the central bank influences the level of public debt, the elasticity of inflation with respect to the amount of public debt and the reaction of monetary policy to rising debt. In the next part of the paper it is tested for these theses. The results are rather mixed. There seems to bc a corrclation between the degree of independence of the central bank and the level of public debt. Furthermore weak evidence is found of the independence of the central bank influencing the rclation between the level of debt and inflation. No evidence is found, however, that independent central banks react more restrictive to rising structural deficits than dependent ones.en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:ifwkwp:750en
dc.identifier.printppn257725911en
dc.date.issuedonline2011en
dc.publisher.online|aZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft |cKiel, Hamburgen
econstor.documentversionDigitized Versionen
econstor.citation.publisherInstitut für Weltwirtschaft (IfW)en
econstor.citation.publisherplaceKielen
econstor.citation.year1996en

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