NBER Macroeconomics Annual 2011

Volume 26

Edited by Daron Acemoglu and Michael Woodford

NBER Macroeconomics Annual 2011
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Edited by Daron Acemoglu and Michael Woodford

440 pages | 6 x 9 | © 2012
Cloth $90.00 ISBN: 9780226002149 Published July 2012
Paper $60.00 ISBN: 9780226002163 Published July 2012
The twenty-sixth edition of the NBER Macroeconomics Annual continues its tradition of featuring theoretical and empirical contributions that shed light on central issues in contemporary macroeconomics, pushing the frontiers of macroeconomic work in areas ranging from short-run macroeconomic fluctuations to exchange rates, financial regulation, and political economy. As with other recent volumes in this series, this year’s volume features several papers that aim to illuminate the causes of the recent financial crisis and consider policies that might reduce the likelihood of similar crises in the future. Topics include analyses of the sources of asset market bubbles and their macroeconomic consequences, the reconsideration of financial regulation and ways in which it could be improved, exchange-rate determination, and the macroeconomic determinants of unemployment.
 

Contents
1. Editorial
Daron Acemoglu; Michael Woodford

2.  Natural Expectations, Macroeconomic Dynamics, and Asset Pricing
Andreas Fuster; Benjamin Hebert,; David Laibson
Comments by:
Martin Eichenbaum; George W. Evans
Discussion

3. House Price Booms and the Current Account
Klaus Adam; Pei Kuang,; Albert Marcet
Comments by:
Edward L. Glaeser; Lars Peter Hansen
Discussion

4. Risk Topography
Markus K. Brunnermeier; Gary Gorton,; Arvind Krishnamurthy
Comments by:
Darrell Duffie; Hyun Song Shin
Discussion

5. A Fistful of Dollars: Lobbying and the Financial Crisis
Deniz Igan; Prachi Mishra,; Thierry Tressel
Comments by:
Jeremy C. Stein; Luigi Zingales
Discussion

6. Risk, Monetary Policy, and the Exchange Rate
Gianluca Benigno; Pierpaolo Benigno,; Salvatore Nisticò
Comments by:
Charles Engel; Martín Uribe
Discussion

7. Unemployment in an Estimated New Keynesian Model
Jordi Galí; Frank Smets,; Rafael Wouters
Comments by:
Lawrence J. Christiano; Richard Rogerson
Discussion
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