@book{NastanskyMehnertStrohe2014,
  author    = {Nastansky, Andreas and Mehnert, Alexander and Strohe, Hans Gerhard},
  title     = {A vector error correction model for the relationship between public debt and inflation in Germany},
  url       = {http://nbn-resolving.de/urn:nbn:de:kobv:517-opus-50246},
  publisher      = {Universit{\"a}t Potsdam},
  year      = {2014},
  abstract  = {In the paper, the interaction between public debt and inflation including mutual impulse response will be analysed. The European sovereign debt crisis brought once again the focus on the consequences of public debt in combination with an expansive monetary policy for the development of consumer prices. Public deficits can lead to inflation if the money supply is expansive. The high level of national debt, not only in the Euro-crisis countries, and the strong increase in total assets of the European Central Bank, as a result of the unconventional monetary policy, caused fears on inflating national debt. The transmission from public debt to inflation through money supply and long-term interest rate will be shown in the paper. Based on these theoretical thoughts, the variables public debt, consumer price index, money supply m3 and long-term interest rate will be analysed within a vector error correction model estimated by Johansen approach. In the empirical part of the article, quarterly data for Germany from 1991 by 2010 are to be examined.},
  language  = {en}
}
@techreport{EydamLeupold2023,
  type      = {Working Paper},
  author    = {Eydam, Ulrich and Leupold, Florian},
  title     = {What is it good for?},
  series = {CEPA Discussion Papers},
  journal   = {CEPA Discussion Papers},
  number    = {65},
  issn      = {2628-653X},
  doi       = {10.25932/publishup-59796},
  url       = {http://nbn-resolving.de/urn:nbn:de:kobv:517-opus4-597966},
  pages     = {37},
  year      = {2023},
  abstract  = {Military conflicts and wars affect a country's development in various dimensions. Rising inflation rates are a potentially important economic effect associated with conflict. High inflation can undermine investment, weigh on private consumption, and threaten macroeconomic stability. Furthermore, these effects are not necessarily restricted to the locality of the conflict, but can also spill over to other countries. Therefore, to understand how conflict affects the economy and to make a more comprehensive assessment of the costs of armed conflict, it is important to take inflationary effects into account. To disentangle the conflict-inflation-nexus and to quantify this relationship, we conduct a panel analysis for 175 countries over the period 1950-2019. To capture indirect inflationary effects, we construct a distance based spillover index. In general, the results of our analysis confirm a statistically significant positive direct association between conflicts and inflation rates. This finding is robust across various model specifications. Moreover, our results indicate that conflict induced inflation is not solely driven by increasing money supply. Furthermore, we document a statistically significant positive indirect association between conflicts and inflation rates in uninvolved countries.},
  language  = {en}
}