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

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  • Viviane Luporini

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.

Suggested Citation

  • Viviane Luporini, 2003. "Inflation adjusted nominal deficit: a note on Robert Barro’s definition," Brazilian Journal of Political Economy, Center of Political Economy, vol. 23(1), pages 154-159.
    • Handle: RePEc:ekm:repojs:v:23:y:2003:i:1:p:154-159:id:894
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    More about this item

    Keywords

    Inflation; nominal deficit; stock-flow;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory

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