NBER macroeconomics annual. 2005 / Mark Gertler and Kenneth Rogoff, editors.

Format:

Book

Contributor:

Gertler, Mark.

Rogoff, Kenneth S.

National Bureau of Economic Research.

Series:

NBER Macroeconomics Annual series

NBER macroeconomics annual ; 2005

Language:

English

Subjects (All):

Macroeconomics.

Econometrics.

Physical Description:

1 online resource (479 p.)

Edition:

1st ed.

Other Title:

National Bureau of Economic Research macroeconomics annual

Macroeconomics annual

Place of Publication:

Cambridge, MA : MIT Press, c2006.

Language Note:

English

Summary:

This 20th edition of the NBER Macroeconomics Annual treats many questions at the cutting edge of macroeconomics that are central to current policy debates. The papers and discussions include an analysis of the differential between American and European unemployment rates, with the authors of the paper taking issue with Edward Prescott's view that higher European tax rates are responsible; a provocative account of the relationship between fluctuations in the hiring rate of new workers and the U.S. unemployment rate; an analysis of the 20-year decline in aggregate volatility (and the rise in firm volatility); a model that compares the effectiveness of monetary policy that targets inflation rates to one that targets simple wage inflation; a roadmap to using Bayesian approaches in solving empirical puzzles; and a microeconomic model that shows the desirability of maintaining a stable inflation rate even in isolated situations that would seem to call for a more flexible policy toward inflation.

Contents:

Editorial; Abstracts; 1 Work and Leisure in the United States and Europe: Why So Different?; 2 Job Loss, Job Finding, and Unemployment in the U.S. Economy over the Past Fifty Years; 3 The Rise in Firm-Level Volatility: Causes and Consequences; 4 Monetary Policy Under Uncertainty in Micro-Founded Macroeconometric Models; 5 A Bayesian Look at New Open Economy Macroeconomics; 6 Optimal Fiscal and Monetary Policy in a Medium-Scale Macroeconomic Model

Notes:

Description based upon print version of record.

OCLC-licensed vendor bibliographic record.

Includes bibliographical references.

ISBN:

0-262-27373-X

1-4294-7712-1

OCLC:

271575992

Publisher Number:

9780262072724