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The Effect of Fiscal Constraint on Inflation: A Case Study From Argentina

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  • Additional Information
    • Publication Date:
      2017
    • Abstract:
      This thesis studies the impact of a "fiscal constraint"–when a government that runs a fiscal deficit is unable to issue debt externally–on inflation in Argentina. However, since inflation itself affects the government's menu of financing options, I follow Hébert and Schreger (2016) and use rulings on the case 'NML Capital v. The Republic of Argentina' as a source of relevant variation exogenous to the Argentine economic situation in order to identify the effect of fiscal constraint on inflation. Ultimately, I find no empirical evidence of such an impact.
    • File Description:
      application/pdf
    • Accession Number:
      edshld.1.38811492