Nominal Debt as a Burden on Monetary Policy
NBER Working Paper No. 13677
---- Acknowledgments ----
We thank Narayana Kocherlakota, and two anonymous referees for very useful comments and suggestions. We also thank Isabel Correia and Juan Pablo Nicolini for their comments, as well as the participants in seminars and conferences where this work has been presented. Financial support of the Spanish Ministerio de Ciencia y Tecnología (Grants: SEC2002-004318), FIRB (Grant RBNE03YT7Z-006) and the Fundação de Ciência e Tecnologia of Portugal is also acknowledged. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.