NBER Macroeconomics Annual 2010

Volume 25

Edited by Daron Acemoglu and Michael Woodford

NBER Macroeconomics Annual 2010
Access the entire series—subscribe to the electronic edition.

Edited by Daron Acemoglu and Michael Woodford

440 pages | 6 x 9 | © 2011
Paper $60.00 ISBN: 9780226002132 Published May 2011
Cloth $90.00 ISBN: 9780226002125 Published May 2011
Contents
Editorial
Daron Acemoglu and Michael Woodford
Abstracts

1 On Graduation from Default, Inflation, and Banking Crises: Elusive or Illusion?
Rong Qian, Carmen M. Reinhart, and Kenneth Rogoff

Comments
Mark Aguiar
Alan M. Taylor

Discussion


2 What Fiscal Policy Is Effective at Zero Interest Rates?
Gauti B. Eggertsson

Comments
Lawrence J. Christiano
Lee E. Ohanian

Discussion


3 Two Monetary Tools: Interest Rates and Haircuts
Adam Ashcraft, Nicolae Gaˆrleanu, and Lasse Heje Pedersen

Comments
Tobias Adrian and Erkko Etula
Michael Woodford

Discussion


4 Technology Diffusion and Postwar Growth
Diego Comin and Bart Hobijn

Comments
Chang-Tai Hsieh
James A. Robinson

Discussion


5 In Search of Real Rigidities
Gita Gopinath and Oleg Itskhoki

Comments
Mikhail Golosov
Virgiliu Midrigan

Discussion


6 Oil, Automobiles, and the U.S. Economy: How Much Have Things Really Changed?
Valerie A. Ramey and Daniel J. Vine

Comments
Jordi Galí
Ariel Pakes

Discussion


7 Macroeconomic Lessons from the Great Deviation
John B. Taylor
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