NBER International Seminar on Macroeconomics 2006, Volume 3

Edited by Lucrezia Reichlin and Kenneth West

NBER International Seminar on Macroeconomics 2006, Volume 3
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Edited by Lucrezia Reichlin and Kenneth West

623 pages | 63 line drawings, 35 tables | 6 x 9 | © 2008
Cloth $90.00 ISBN: 9780226707426 Published August 2008

The distinguished International Seminar on Macroeconomics (ISoM) has met annually in Europe for thirty years. The papers included in ISoM 2006 discuss the relationship between prices and productivity in the OECD; monetary policy impact on inflation and output; implications of rising government debt; the relationship between consumption and labor market tightness; variation in real wages over the business-cycle; production sharing and business cycle synchronization in the accession countries; and pension systems and the allocation of macroeconomic risk.

Contents
            Introduction
            Lucrezia Reichlin and Kenneth West

            The Consumption-Tightness Puzzle
            Morten O. Ravn
            Comments by Kai Christoffel, Julio J. Rotemberg

            Cyclical Wages in a Search-and-Bargaining Model with Large Firms
            Julio J. Rotemberg
            Comments by Antonella Trigari

            Productivity, External Balance and Exchange Rates: Evidence on the Transmission Mechanism among G7 Countries
            Giancarlo Corsetti, Luca Dedola, and Sylvain Leduc
            Comments by Susanto Basu, Robert Kollmann

            Production Sharing and Business Cycle Synchronization in the Accession Countries
            Linda L. Tesar
            Comments by Paul Bergin, Aurelijus Dabusinskas

            Pension Systems and the Allocation of Macroeconomic Risk
            Lans Bovenberg and Harald Uhlig
            Comments by Henning Bohn, Philippe Weil

            Endogenous Monetary Policy Regime Change
            Troy Davig and Eric M. Leeper
            Comments by Richard H. Clarida, Jesper Lindé

            Inflation Implications of Rising Government Debt
            Chryssi Giannitsarou and Andrew Scott
            Comments by Eric M. Leeper
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