Burdekin, Richard C.K.; Wohar, Mark E. - In: Journal of Economic Studies 17 (1990) 6, pp. 50-63
The relative impacts of the monetised and non-monetised deficit on output and inflation in the United States are … affected real GNP growth, nominal GNP growth or inflation. For the period 1961-1982, monetisation is found to have fuelled … inflation with no effect on real GNP. Non-monetised deficits provided a negative short-run impact on the rate of inflation over …