“Without causing inflation” seems hard to support based on this study, given the short timeframe and large external effects which aren’t being controlled for.
That said, it seems very plausible that the localized economic impact of more cash wouldn’t drive large price change if the economy was integrated with other regions; critical inputs such as grain prices are driven by global markets more than local demand. And the surveyed markets shown are mostly for global goods.
“Without causing inflation” seems hard to support based on this study, given the short timeframe and large external effects which aren’t being controlled for.
That said, it seems very plausible that the localized economic impact of more cash wouldn’t drive large price change if the economy was integrated with other regions; critical inputs such as grain prices are driven by global markets more than local demand. And the surveyed markets shown are mostly for global goods.