1st Edition

The Macroeconomic Effects of War Finance in the United States
Taxes, Inflation, and Deficit Finance

ISBN 9780815363620
Published September 10, 2019 by Routledge
138 Pages

USD $39.95

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Book Description

This book, first published in 1998, presents a quantitative investigation of the macroeconomic effects of different fiscal and monetary policies that have been used to finance wars in the US. It examines both positive and normative effects of historical government policies.

Table of Contents

1. Introduction  2. The Macroeconomic Effects of Wartime Fiscal Policy in the United States  2.1. Introduction  2.2. Historical War Episodes  2.3. The Model Economy  2.4. Model Calibration and Welfare Cost Calculation  2.5. Economic Analysis of Government Policies  2.6. Summary and Conclusions  3. The Macroeconomic Effects of World War II Monetary Policy: Price Controls, Rationing, and Inflation  3.1. Introduction  3.2. Monetary Policies During US Wars and Design of Counterfactual Policy  3.3. World War II Rationing and Price Controls  3.4. The Model Economy  3.5. Calibrating the Model with Price Controls  3.6. Economic Analysis of Monetary Policies  3.7. Summary and Conclusions

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Lee E. Ohanian is Professor of Economics, University of California, Los Angeles Senior Fellow, Hoover Institution, Stanford University.