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NBER Macroeconomics Annual 2007

Volume 22

The NBER Macroeconomics Annual provides a forum for important debates in contemporary macroeconomics and major developments in the theory of macroeconomic analysis and policy that include leading economists from a variety of fields. The papers and accompanying discussions in NBER Macroeconomics Annual 2007 address exchange-rate models; implications of credit market frictions; cyclical budgetary policy and economic growth; the impacts of shocks to government spending on consumption, real wages, and employment; dynamic macroeconomic models; and the role of cyclical entry of new firms and products on the nature of business-cycle fluctuations and on the effects of monetary policy.

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477 pages | 59 line drawings, 25 tables | 6 x 9 | © 2008

National Bureau of Economic Research Macroeconomics Annual

Economics and Business: Economics--General Theory and Principles

Table of Contents

            Aggregate Implications of Credit Market Imperfections
            Kiminori Matsuyama
            Comment by Mark Gertler
            Comment by Nobuhiro Kiyotaki

            How Structural Are Structural Parameters?
            Jesús Fernández-Villaverde and Juan F. Rubio-Ramírez
            Comment by Timothy Cogley
            Comment by Frank Schorfheide

            In Search of the Transmission Mechanism of Fiscal Policy
            Roberto Perotti
            Comment by Ricardo Reis
            Comment by Valerie Ramey

            Cyclical Budgetary Policy and Economic Growth: What Do We Learn from OECD Panel Data?
            Philippe Aghion and Ioana Marinescu
            Comment by Ricardo J. Caballero
            Comment by Anil K Kashyap

            Monetary Policy and Business Cycles with Endogenous Entry and Product Variety
            Florin O. Bilbiie, Fabio Ghironi, and Marc J. Melitz
            Comment by Virgiliu Midrigan
            Comment by Julio J. Rotemberg

            Exchange Rate Models Are Not As Bad As You Think
            Charles Engel, Nelson C. Mark, and Kenneth D. West
            Comment by Kenneth Rogoff
            Comment by Barbara Rossi

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