国际货币基金组织：扩张性财政政策的通货膨胀风险（英文版）

: Drawing on an extensive literature, this paper examines the extent to which expansionary fiscalpolicy poses a challenge to containing inflation. it does so by assessing how infation responds to shocks to thefiscal deficit and public debt, and by identifying the channels through which these effects operate in LatinAmerican countries. The analysis finds that unanticipated fiscal deficits are associated with higher current andfuture inflation. Consistent with predictions from an open economy P