Description
Handbook of Macroeconomics Volumes 2A and 2B surveys major advances in macroeconomic scholarship since the publication of Volume 1 (1999), carefully distinguishing between empirical, theoretical, methodological, and policy issues, including fiscal, monetary, and regulatory policies to deal with crises, unemployment, and economic growth. As this volume shows, macroeconomics has undergone a profound change since the publication of the last volume, due in no small part to the questions thrust into the spotlight by the worldwide financial crisis of 2008. With contributions from the world's leading macroeconomists, its reevaluation of macroeconomic scholarship and assessment of its future constitute an investment worth making.- Serves a double role as a textbook for macroeconomics courses and as a gateway for students to the latest research- Acts as a one-of-a-kind resource as no major collections of macroeconomic essays have been published in the last decade- Builds upon Volume 1 by using its section headings to illustrate just how far macroeconomic thought has evolved
Table of Contents
Section 1: The Facts of Economic Growth and Economic Fluctuation1. RBC Methodology and the Development of Aggregate Economic Theory2. The Facts of Economic Growth3. Macroeconomic Shocks and Their Propagation4. Macroeconomic Regimes and Regime Shifts5. The Macroeconomics of Time Allocation6. Who Bears the Cost of Recessions? The Role of House Prices and Household Debt7. Allocative and Remitted Wages: New Facts and Challenges for Keynesian Models8. Financial and Fiscal CrisesSection 2: The Methodology of Macroeconomics9. Factor Models and Structural Vector Autoregressions in Macroeconomics10. Solution and Estimation Methods for DSGE Models11. Recursive Contracts and Endogenously Incomplete Markets12. Macroeconomics and Household Heterogeneity13. Natural Experiments in Macroeconomics14. Accounting for Business Cycles15. Incomplete Information in Macroeconomics: Accommodating Frictions in Coordination16. New Methods for Macro-Financial Model Comparison and Policy AnalysisSection 3: Financial-Real Connections17. Wholesale Banking and Bank Runs in Macroeconomic Modelling of Financial Crises18. Housing and Credit Markets: Bubbles and Crashes19. Macro, Money and Finance: A Continuous-Time Approach 20. Housing and Macroeconomics21. Term Structure of Uncertainty in the Macroeconomy22. Quantitative Models of Sovereign Debt CrisesSection 4: Models of Economic Growth and Fluctuations23. Families in Macroeconomics24. Environmental Macroeconomics 25. The Staying Power of Staggered Wage and Price Setting Models in Macroeconomics26. Neoclassical Models in Macroeconomics27. Macroeconomics of Persistent Slumps28. Macroeconomics and the Labor MarketSection 5: Macroeconomic Policy29. Challenges for Central BanksMacro Models30. Liquidity requirements, liquidity choice and financial stability31. Understanding Inflation as a Joint Monetary-Fiscal Phenomenon32. Fiscal Multipliers: Liquidity Traps and Currency Unions33. What is a Sustainable Public Debt? 34. The Political Economy of Government Debt
