fluctuation in spending. Last, government spending is concentrated in sectors with relatively sticky prices. Accounting for these … impact inflation, little crowding out of private expenditure exists, and the multiplier tends to be larger compared to a one …

The link between money creation and inflation has been theoretically demonstrated, but different inflation responses to … controlling the money supply by limiting Federal Reserve purchases of Treasury securities as a better way to control inflation … ``fiscal transmission mechanism'' whereby Federal Reserve purchases of Treasury securities lead to inflation as new dollars …