Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/65795 
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dc.contributor.authorFan, Jingwenen
dc.contributor.authorMinford, Patricken
dc.date.accessioned2012-11-02T14:28:47Z-
dc.date.available2012-11-02T14:28:47Z-
dc.date.issued2011-
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
dc.language.isoengen
dc.publisher|aCardiff University, Cardiff Business School |cCardiffen
dc.relation.ispartofseries|aCardiff Economics Working Papers |xE2009/26en
dc.subject.jelE31en
dc.subject.jelE37en
dc.subject.jelE62en
dc.subject.jelE65en
dc.subject.ddc330en
dc.subject.keywordUK Inflationen
dc.subject.keywordFiscal Theory of the Price Levelen
dc.subject.keywordCointegration testen
dc.subject.keywordBootstrap simulationen
dc.subject.keywordIndirect inferenceen
dc.subject.keywordWald statisticen
dc.subject.stwFinanzpolitiken
dc.subject.stwÖffentliche Ausgabenen
dc.subject.stwInflationsrateen
dc.subject.stwBootstrap-Verfahrenen
dc.subject.stwGroßbritannienen
dc.titleCan the fiscal theory of the price level explain UK inflation in the 1970s?-
dc.typeWorking Paperen
dc.identifier.ppn622724479en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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