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Federal Reserve Bank of Dallas
Economic Letter
Inflation is not always and everywhere a monetary phenomenon
Antonella Tutino
Carlos E. Zarazaga

Fiscal policy is as significant as, and sometimes more important than, monetary policy in determining the price level and, therefore, the dynamics of inflation.

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Antonella Tutino & Carlos E. Zarazaga, "Inflation is not always and everywhere a monetary phenomenon" , Federal Reserve Bank of Dallas, Economic Letter, volume 9, issue 6, pages 1-4, June 2014.
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Keywords: Fiscal policy; Inflation (Finance); Monetary policy
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