NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

What Has Financed Government Debt?

Hess Chung, Eric M. Leeper

NBER Working Paper No. 13425
Issued in September 2007

---- Acknowledgements -----

We thank participants in L.S.E. Colloquium: Sargent and Sims Macro-Econometric Perspectives, particularly Albert Marcet, Tom Sargent, Chris Sims, and Harald Uhlig; we also thank Aaron Drew, Mike Plante, Nora Traum, Anders Vredin, Ken West, participants at seminars at the Sveriges Riksbank, the Federal Reserve Board, the Far East Meetings of the Econometric Society, the New Zealand Treasury, and the Fiscal Policy Frameworks conference in Sydney for helpful comments. Department of Economics, Indiana University, htchung@indiana.edu; Department of Economics and CAEPR, Indiana University and NBER, eleeper@indiana.edu. Leeper acknowledges support from NSF Grant SES-0452599. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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