Browsing by Author "Díaz-Giménez, Javier"

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  • Díaz-Giménez, Javier; Giovannetti, Giorgia; Marimon, Ramon; Teles, Pedro (2003-01-01)
    We study the effects of nominal debt on the optimal sequential choice of monetary policy. When the stock of debt is nominal, the incentive to generate unanticipated inflation increases the cost of the outstanding debt even ...