Inflation Implications of Rising Government Debt
---- Acknowledgements -----
We thank Boris Glass for extensive research assistance and support. We are also grateful to participants at ISOM 2006 and EEA-ESEM 2006. We are particularly grateful to Domenico Giannone, Eric Leeper and Lucrezia Reichlin for their comments and suggestions for improving this paper. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.