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Inflation und Staatsverschuldung

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Neumann, M. Inflation und Staatsverschuldung. Journal of Contextual Economics – Schmollers Jahrbuch, 101(2), 113-126. https://doi.org/10.3790/schm.101.2.113
Neumann, Manfred J. M. "Inflation und Staatsverschuldung" Journal of Contextual Economics – Schmollers Jahrbuch 101.2, 1981, 113-126. https://doi.org/10.3790/schm.101.2.113
Neumann, Manfred J. M. (1981): Inflation und Staatsverschuldung, in: Journal of Contextual Economics – Schmollers Jahrbuch, vol. 101, iss. 2, 113-126, [online] https://doi.org/10.3790/schm.101.2.113

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Inflation und Staatsverschuldung

Neumann, Manfred J. M.

Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 101 (1981), Iss. 2 : pp. 113–126

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Article Details

Neumann, Manfred J. M.

Abstract

The first part of the paper analyzes wealth and relative-price effects of debt finance on the price level and on the level of output. The second part deals with inflationary links between debt policy and monetary policy. Those links are: a legal commitment of the central bank to buy government debt without limit, a legal commitment of the central bank to fix exchange rates with currency areas where inflation is the order of the day, a continuous political pressure on the central bank to hold down interest rates. While facilitating debt finance those links set the stage for inflation.