Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/80000
Authors: 
Kriwoluzky, Alexander
Kliem, Martin
Sarferaz, Samad
Year of Publication: 
2013
Series/Report no.: 
Beiträge zur Jahrestagung des Vereins für Socialpolitik 2013: Wettbewerbspolitik und Regulierung in einer globalen Wirtschaftsordnung - Session: Expectation and Fluctuations C21-V2
Abstract: 
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.
JEL: 
E42
E58
E61
Document Type: 
Conference Paper

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