Public Sector Economics

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Inflation and public finances: an overview



Dubravko Mihaljek*
Article   |   Year:  2023   |   Pages:  413 - 430   |   Volume:  47   |   Issue:  4
Received:  October 14, 2023   |   Accepted:  October 19, 2023   |   Published online:  December 11, 2023
Download citation        https://doi.org/10.3326/pse.47.4.2       


Graph 1
Changes in annual revenue and expenditure/GDP, 1992–2023 (in percentage points)
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Graph 2
Trends in tax structure in OECD countries (in per cent of total tax revenue)
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Graph 3
Estimated cost of energy measures in the EU (as a percentage of GDP)
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Graph 4
Fiscal policy support and core inflation, 2020–22
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Table 1
Structure of government expenditure, as a percentage of GDP, period averages
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Graph 5
High nominal GDP growth lowers public debt ratios
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Graph 6
Monetary tightening and primary fiscal surpluses
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Graph 7
High public debt leads to larger yield and CDS increases when policy rates rise (in percentage points) 1
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Graph A1
Gross public debt and gross interest payments in advanced economies, as a percentage of GDP1
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  December, 2023
IV/2023
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