NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Money as a Unit of Account

Matthias Doepke, Martin Schneider

NBER Working Paper No. 19537
Issued in October 2013, Revised in April 2017

---- Acknowledgments ----

We thank Lars Hansen (the editor), three anonymous referees, Aleksander Berentsen, Larry Christiano, Hal Cole, Marty Eichenbaum, Christian Hellwig, Nobu Kiyotaki, Arvind Krishnamurthy, Guido Menzio, Mirko Wiederholt, Randy Wright, and seminar participants at Booth, BU, Chicago, Cornell, CREI, ECB, Northwestern, Ohio State, Penn, Penn State, Richmond Fed, St. Louis Fed, Toulouse, UC Davis, UCLA, UIC, Yale, Zurich, the ASU CASEE conference, the SED Annual Meeting, the 2013 NBER ME Meeting in Chicago, the “Asset Markets, Nominal Contracts, and Monetary Policy” conference in Munich, and the “2012 Chicago FedWorkshop on Money, Banking, Payments and Finance” for many helpful comments. Financial support from the National Science Foundation (grant SES-1260961) is gratefully acknowledged. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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