Aizenman, Joshua; Marion, Nancy - In: Journal of Macroeconomics 33 (2011) 4, pp. 524-541
temptation to inflate. It suggests that when economic growth is stalled, the US debt overhang may induce an increase in inflation …Projections indicate the US Federal debt held by the public may exceed 70–100% of GDP within 10years. In many respects …, the temptation to inflate away some of this debt burden is similar to that at the end of World War II. In 1946, the debt …