Inflation adjusted nominal deficit: a note on Robert Barro’s definition

Viviane Luporini ()

Brazilian Journal of Political Economy, 2003, vol. 23, issue 1, 154-159

Abstract: This note discusses the concept of ‘inflation adjusted nominal deficit’ proposed by Robert Barro in light of a stock-flow consistent real deficit. It is argued that the calculation proposed by the author violates the principle of stock-flow consistency and leads one to the erroneous interpretation that a rise in the rate of inflation de- creases the government deficit in nominal terms. JEL Classification: E31; E62.

Keywords: Inflation; nominal deficit; stock-flow (search for similar items in EconPapers)
Date: 2003
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