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Author Catão, Luis.

Title Fiscal deficits and inflation : a new look at the emerging market evidence / Luis Catão and Marco Terrones

Published [Washington, D.C.] : International Monetary Fund, Research Dept., [2001]
©2001
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Description 1 online resource (31 pages) : illustrations
monochrome rdacc http://rdaregistry.info/termList/RDAColourContent/1002
Series IMF working paper ; WP/01/74
IMF working paper ; WP/01/74
Summary 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
Bibliography Includes bibliographical references (pages 29-31)
Notes Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL
digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL
Print version record
Subject Budget deficits -- Developing countries -- Effect of inflation on -- Econometric models
Finance, Public -- Developing countries -- Econometric models.
Fiscal policy -- Developing countries -- Econometric models.
Inflation (Finance) -- Developing countries -- Econometric models.
Form Electronic book
ISBN 1281263761
1451895992
9781281263766
9781451895995