Synopses & Reviews
In these two volumes, a group of distinguished economists debate the way in which evidence, in particular econometric evidence, can and should be used to relate macroeconomic theories to the real world. Topics covered include the business cycle, monetary policy, economic growth, the impact of new econometric techniques, the IS-LM model, the labor market, new Keynesian macroeconomics, and the use of macroeconomics in official documents.
Table of Contents
1 Introduction to Volume I
Business cycles
2 Knowing the cycle, Dan Harding and Adrian Pagan
3 Fiscal shocks in an efficiency wage model, Craig Burnside, Martin Eichenbaum and Jonas D. M. Fisher
4(a) The return of business cycles, James Hartley
4(b) General discussion
Monetary policy
5 Does money determine UK inflation over the long run?, David F. Hendry
6 Recent developments in monetary policy analysis: the roles of theory and evidence, Bennett T. McCallum
7(a) Explanatory strategies for monetary policy analysis, Mary S. Morgan
7(b) Monetary policy: general discussion
The influence of recent developments in econometric techniques
8 Models and relations in economics and econometrics, Katarina Juselius
9 Unit roots and all that: the impact of time-series methods on macroeconomics, Ron P. Smith
10(a) Models all the way down, Kevin D. Hoover
10(b) New econometric techniques and macroeconomics, Carlo Favero
10(c) Econometric techniques: general discussion
Growth
11 Econometric analysis and the study of economic growth: a sceptical perspective, Steven N. Durlauf
12 Growth models and the explanation of the forces behind development processes, Paolo Sylos Labini
13 Why so much scepticism about growth theory?, Andrea Salanti