NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Anchors Away: How Fiscal Policy Can Undermine the Taylor Principle

Eric M. Leeper

NBER Working Paper No. 15514
Issued in November 2009

---- Acknowledgements -----

Prepared for the Banco Central de Chile's 13th Annual Conference, November 19 and 20, 2009. I thank Todd Walker for many insightful conversations. 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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