Deflation and Public Finances : Evidence from the Historical Records

Evidence from the Historical Records

Deflation and Public Finances : Evidence from the Historical Records
This paper examines the impact of deflation on fiscal aggregates. With deflation relatively rare in modern history, it relies mostly on the historical records, using a dataset panel covering 150 years and 21 advanced economies. Empirical evidence shows that deflation affects public finances mostly through increases in public debt ratios,... READ MORE...

Publication date: July 2015
ISBN 9781513528243
$18.00

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