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 and Department Head (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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Additional Information

Publication

Journal of Monetary Economics, 21(1) January, 143-154.

Language: English

Date: 1988

Keywords

Federal reserve, Deficit spending, Fiscal policy