Arbeitspapier
Identifying fiscal inflation
Fiscal theorists warn about the risk of future in.ation as a consequence of current fiscal imbalances in the US. Because actual in.ation remains historically low and data on inflation expectations do not corroborate such risks, warnings for fiscal inflation are often ignored in policy and academic circles. This paper shows that a canonical NK- DSGE model enables identifying an anticipated component of in.ation expectations that is closely related to fiscal policy. Estimation results suggest that fiscal inflation concerns have induced a 1.6%-points increase in long-run inflation since 2001. The model also rationalizes why data on in.ation expectations do not reveal such concerns outright.
- Sprache
-
Englisch
- Erschienen in
-
Series: Sveriges Riksbank Working Paper Series ; No. 273
- Klassifikation
-
Wirtschaft
Price Level; Inflation; Deflation
Fiscal Policy
- Thema
-
Fiscal policy
inflation
news
- Ereignis
-
Geistige Schöpfung
- (wer)
-
De Graeve, Ferre
Queijo von Heideken, Virginia
- Ereignis
-
Veröffentlichung
- (wer)
-
Sveriges Riksbank
- (wo)
-
Stockholm
- (wann)
-
2013
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- De Graeve, Ferre
- Queijo von Heideken, Virginia
- Sveriges Riksbank
Entstanden
- 2013
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