Government Borrowing and Monetary Accommodations
- UNCG Author/Contributor (non-UNCG co-authors, if there are any, appear on document)
- Stuart D. Allen, Professor (Creator)
- Institution
- The University of North Carolina at Greensboro (UNCG )
- Web Site: http://library.uncg.edu/
Abstract: This paper re-examines the relationship between Treasury borrowing and monetary growth examined previously with annual data by Barro, Niskanen and Hamburger and Zwick. Our analysis, based on quarterly data, produces evidence of a positive and significant impact of total Treasury borrowing upon the growth of the monetary base for the 1954/I-1961/II and 1961/III-1974/IV periods but an insignificant coefficient for the Barro expenditure variable. When the coefficient instability during the 1961/III-1980/IV period is corrected by a dummy variable technique thy debt coefficient is positive and significant and remains stable for this two decade period.
Government Borrowing and Monetary Accommodations
PDF (Portable Document Format)
733 KB
Created on 11/10/2010
Views: 3048
Additional Information
- Publication
- Journal of Monetary Economics, 12(4) October 1983, 605-616.
- Language: English
- Date: 1983
- Keywords
- Government, Debt, Finance, Economics, Money