How can we understand the Great Inflation of the 1970s? Does the government budget constraint help?

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Macroeconomics

ISBN: 978-0393923902

3rd edition

Authors: Charles I. Jones

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Question Posted: Feb 25, 2016 06:29 AM

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What is the government budget constraint? How does it help us understand the causes of high inflation?
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How can we understand the Great Inflation of the 1970s? Does the government budget constraint help?

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No it does notthe US government raises only a tiny amount of revenue ...View the full answer

Macroeconomics

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