Even if government debts are assumed to be financed in the future through inflation that will be triggered by fiscal expansion, empirical research on related theoretical models is still insufficient. Therefore, the models cannot be applied to the actual policy formulation, nor used as the basis for macroeconomic forecast for such formulation.
Economic policy is implemented based on a critical decision that takes account of more than just gains and losses for various economic entities. This is because it is difficult to obtain the consent of stakeholders based on an economic model that considers future inflation to be inevitable but cannot predict when it will occur.