On Deficit Financing

Error message

Warning: Undefined array key "redirect" in iima_preprocess_html() (line 264 of themes/iima/iima.theme).

iima_preprocess_html(Array, 'html', Array) (Line: 287)
Drupal\Core\Theme\ThemeManager->render('html', Array) (Line: 422)
Drupal\Core\Render\Renderer->doRender(Array, ) (Line: 201)
Drupal\Core\Render\Renderer->render(Array) (Line: 162)
Drupal\Core\Render\MainContent\HtmlRenderer->Drupal\Core\Render\MainContent\{closure}() (Line: 564)
Drupal\Core\Render\Renderer->executeInRenderContext(Object, Object) (Line: 163)
Drupal\Core\Render\MainContent\HtmlRenderer->renderResponse(Array, Object, Object) (Line: 90)
Drupal\Core\EventSubscriber\MainContentViewSubscriber->onViewRenderArray(Object, 'kernel.view', Object)
call_user_func(Array, Object, 'kernel.view', Object) (Line: 142)
Drupal\Component\EventDispatcher\ContainerAwareEventDispatcher->dispatch(Object, 'kernel.view') (Line: 163)
Symfony\Component\HttpKernel\HttpKernel->handleRaw(Object, 1) (Line: 80)
Symfony\Component\HttpKernel\HttpKernel->handle(Object, 1, 1) (Line: 58)
Drupal\Core\StackMiddleware\Session->handle(Object, 1, 1) (Line: 48)
Drupal\Core\StackMiddleware\KernelPreHandle->handle(Object, 1, 1) (Line: 191)
Drupal\page_cache\StackMiddleware\PageCache->fetch(Object, 1, 1) (Line: 128)
Drupal\page_cache\StackMiddleware\PageCache->lookup(Object, 1, 1) (Line: 82)
Drupal\page_cache\StackMiddleware\PageCache->handle(Object, 1, 1) (Line: 48)
Drupal\Core\StackMiddleware\ReverseProxyMiddleware->handle(Object, 1, 1) (Line: 51)
Drupal\Core\StackMiddleware\NegotiationMiddleware->handle(Object, 1, 1) (Line: 23)
Stack\StackedHttpKernel->handle(Object, 1, 1) (Line: 708)
Drupal\Core\DrupalKernel->handle(Object) (Line: 19)

Warning: Undefined array key "keys" in iima_preprocess_html() (line 270 of themes/iima/iima.theme).

iima_preprocess_html(Array, 'html', Array) (Line: 287)
Drupal\Core\Theme\ThemeManager->render('html', Array) (Line: 422)
Drupal\Core\Render\Renderer->doRender(Array, ) (Line: 201)
Drupal\Core\Render\Renderer->render(Array) (Line: 162)
Drupal\Core\Render\MainContent\HtmlRenderer->Drupal\Core\Render\MainContent\{closure}() (Line: 564)
Drupal\Core\Render\Renderer->executeInRenderContext(Object, Object) (Line: 163)
Drupal\Core\Render\MainContent\HtmlRenderer->renderResponse(Array, Object, Object) (Line: 90)
Drupal\Core\EventSubscriber\MainContentViewSubscriber->onViewRenderArray(Object, 'kernel.view', Object)
call_user_func(Array, Object, 'kernel.view', Object) (Line: 142)
Drupal\Component\EventDispatcher\ContainerAwareEventDispatcher->dispatch(Object, 'kernel.view') (Line: 163)
Symfony\Component\HttpKernel\HttpKernel->handleRaw(Object, 1) (Line: 80)
Symfony\Component\HttpKernel\HttpKernel->handle(Object, 1, 1) (Line: 58)
Drupal\Core\StackMiddleware\Session->handle(Object, 1, 1) (Line: 48)
Drupal\Core\StackMiddleware\KernelPreHandle->handle(Object, 1, 1) (Line: 191)
Drupal\page_cache\StackMiddleware\PageCache->fetch(Object, 1, 1) (Line: 128)
Drupal\page_cache\StackMiddleware\PageCache->lookup(Object, 1, 1) (Line: 82)
Drupal\page_cache\StackMiddleware\PageCache->handle(Object, 1, 1) (Line: 48)
Drupal\Core\StackMiddleware\ReverseProxyMiddleware->handle(Object, 1, 1) (Line: 51)
Drupal\Core\StackMiddleware\NegotiationMiddleware->handle(Object, 1, 1) (Line: 23)
Stack\StackedHttpKernel->handle(Object, 1, 1) (Line: 708)
Drupal\Core\DrupalKernel->handle(Object) (Line: 19)

Research & Publications

On Deficit Financing

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On Deficit Financing

01/02/1974

On Deficit Financing

Swamy Dalip

Working Papers

The main conclusion emerging from the analysis is that the inflationary impact of a budget deficit depends upon the method used to finance that deficit. Using a static and a dynamic macroeconomic model it has been shown that the proportion of budget deficit financed by money creation is a crucial determinent of the rate of price inflation. The price inflation will be greater, the higher the proportion of budget deficit financed by money creation. Conditions under which this conclusion holds have derived. A crude empirical test is provided.

On Deficit Financing

Research & Publications

On Deficit Financing

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