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|z 9781451849592
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|a 1018-5941
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|a Terrones, Marco.
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|a Fiscal Deficits and Inflation :
|b A New Look at the Emerging Market Evidence /
|c Marco Terrones, Luis Catao.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2001.
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|a 1 online resource (31 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a Empirical studies have had little success in finding a statistically significant relationship between fiscal deficits and inflation in broad cross-country panels. This paper provides new econometric estimates for a panel of 23 emerging market countries during 1970-2000. Unlike previous studies, we allow for a rich dynamic specification and focus on the long-run relationship between the two variables controlling for differences in the inflation tax base. We find that a 1 percentage point reduction in the ratio of fiscal deficit to GDP typically lowers long-run inflation by 1 1\2 to 6 percentage points, depending on the size of the inflation tax base.
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|a Mode of access: Internet
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|a Catao, Luis.
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|a IMF Working Papers; Working Paper ;
|v No. 2001/074
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2001/074/001.2001.issue-074-en.xml
|z IMF e-Library
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