Deficits and Money Growth in the United States: A Comment
- UNCG Author/Contributor (non-UNCG co-authors, if there are any, appear on document)
- Stuart D. Allen, Professor (Creator)
- Donald L. McCrickard, Associate professor and Associate Dean (Creator)
- Institution
- The University of North Carolina at Greensboro (UNCG )
- Web Site: http://library.uncg.edu/
Abstract: Joines (1985) argues that the Federal Reserve accommodates war-induced deficit spending but not non-war-induced deficit spending. Using a first-difference form of a reaction function to obtain a stationary time series of the monetary base, we find that the Federal Reserve has accommodated federal government deficit spending in the post-World War II period.
Deficits and Money Growth in the United States: A Comment
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Created on 10/1/2010
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Additional Information
- Publication
- Journal of Monetary Economics, 21(1) January, 143-154.
- Language: English
- Date: 1988
- Keywords
- Federal reserve, Deficit spending, Fiscal policy