“…The studies by Cardoso and Fishlow (1990), Leeper (1991), Janssen, Nolan, and Thomas (2002), Bildiric and Ersin (2007), Kwon, McFarlane, and Robinson (2006), Karakaplan (2009), Reinhart andRogoff (2010), Faraglia et al (2012), Ahmad, Sheikh, and Tariq (2012), da Veiga, Ferreira-Lopes A, and Sequeira (2016), Ezirim, Amuzie, and Mojekwu (2014), Ngerebo (2014), Bilan and Roman (2014) , Nastansky and Strohe (2015), Nguyen (2015), Ezirim, Amuzie, and Mojekwu (2014), Romero and Marin (2017) and Afonso and Ibraimo (2018) revealed a positive impact of public debt on inflation. On the other hand, a few studies have shown that public debt has a negative impact on inflation.…”