Monetary and Fiscal Policies in Times of Large Debt: Unity is Strength
NBER Working Paper No. 27112
---- Acknowledgments ----
We thank Jonas Fisher and Federico Ravenna for their very helpful suggestions. The views in this paper are solely those of the authors and should not be interpreted as reflecting the views of the Federal Reserve Bank of Chicago, Danmarks Nationalbank, any person associated with the Federal Reserve System, the European System of Central Banks, or the National Bureau of Economic Research.