Are Bond-Financed Deficits Inflationary? A Ricardian Analysis
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https://www.nber.org/papers/w0905
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This paper considers the possible theoretical validity of the following "monetarist hypothesis": that a constant, positive government budget deficit can be maintained permanently and without inflation if it is financed by the issue of bonds rather than money. The question is studied in a discrete
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美国国家经济研究局创建时间：
1982-06-01
