| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w21221 |
| 来源ID | Working Paper 21221 |
| War and Inflation in the United States from the Revolution to the First Iraq War | |
| Hugh Rockoff | |
| 发表日期 | 2015-06-01 |
| 出版年 | 2015 |
| 语种 | 英语 |
| 摘要 | The institutional arrangements governing the creation of money in the United States have changed dramatically since the Revolution. Yet beneath the surface the story of wartime money creation has remained much the same. During wars against minor powers, the government was able to fund the war by borrowing and levying taxes. In major wars, however, there came a point when further increases in taxes could not be undertaken for administrative or political reasons, and further increases in borrowing could not be undertaken except at higher interest rates; rates that exceeded what was considered fair based on prewar norms. At those moments governments turned to the printing press. The result was substantial inflation. |
| 主题 | History ; Macroeconomic History |
| URL | https://www.nber.org/papers/w21221 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/578896 |
| 推荐引用方式 GB/T 7714 | Hugh Rockoff. War and Inflation in the United States from the Revolution to the First Iraq War. 2015. |
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