Fiscal deficit and inflation :
Catao, Luis
Fiscal deficit and inflation : a new look at the emerging market evidence / prepared by Luis Catao and Marco Torres. - Washington, D.C. : International Monetary Fund, 2001 - 31 p. - IMF working paper ; no. WP/01/74 .
Bibliografía: p. 29-31.
Empirical studies have had little success in finding a statistically significant relationship between fiscal deficits and inflation in broad cross-country panels. This paer provides new econometric estimates for a panel of 23 emerging market countries during 1970-2000. We find that a 1 percentage point reduction in the ratio of fiscal deficit to GDP typically lowers long-run inflation by 1½ to 6 percentage points, depending on the size of the inflation tax base.
POLITICA FISCAL
INFLACION
336.3
Fiscal deficit and inflation : a new look at the emerging market evidence / prepared by Luis Catao and Marco Torres. - Washington, D.C. : International Monetary Fund, 2001 - 31 p. - IMF working paper ; no. WP/01/74 .
Bibliografía: p. 29-31.
Empirical studies have had little success in finding a statistically significant relationship between fiscal deficits and inflation in broad cross-country panels. This paer provides new econometric estimates for a panel of 23 emerging market countries during 1970-2000. We find that a 1 percentage point reduction in the ratio of fiscal deficit to GDP typically lowers long-run inflation by 1½ to 6 percentage points, depending on the size of the inflation tax base.
POLITICA FISCAL
INFLACION
336.3