Public Debt, Money Supply, and Inflation : A Cross-Country Study and Its Application to Jamaica

A Cross-Country Study and Its Application to Jamaica

Public Debt, Money Supply, and Inflation : A Cross-Country Study and Its Application to Jamaica
This paper provides comprehensive empirical evidence that supports the predictions of Sargent and Wallace's (1981) "unpleasant monetarist arithmetic" that an increase in public debt is typically inflationary in countries with large public debt. Drawing on an extensive panel dataset, we find that the relationship holds strongly in indebted READ MORE...

Publication date: May 2006
ISBN 9781451863819
$15.00

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