NBER Macroeconomics Annual 2012: Volume 27 (Volume 27) (National Bureau of Economic Research Macroeconomics Annual) - Softcover

Softcover

ISBN 10: 022605280X ISBN 13: 9780226052809

Publisher: University of Chicago Press Journals, 2013

Synopsis

The twenty-seventh edition of the NBER Macroeconomics Annual continues a tradition of featuring theoretical and empirical contributions that shed light on central issues in contemporary macroeconomics, pushing the frontiers of macroeconomic research on topics related to both the business cycle and economic growth and addressing important policy-relevant questions. This year’s volume features two papers that illuminate two causes of the recent financial crisis: how firms accessed credit during the financial crisis and how the risk in mortgage lending was measured in the UK in the decades before the crisis. Other papers in this volume include a study of individual prices over time that draws out the implications of observed price adjustment for macroeconomic models of price stickiness, a focus on the implications of microeconomic estimates of labor supply for the determination of employment rates, a study of the empirical validity of the Keynesian explanation for employment declines during recessions, and an innovative paper that measures the efficacy of fiscal stimulus by looking at the economic impact of changes in federal highway spending across US states.

About this title

About the Author:

Daron Acemoglu is the Charles P. Kinderberger Professor of Applied Economics at the Massachusetts Institute of Technology and a research associate of the NBER. Jonathan Parker is the Donald C. Clark/HSBC Professor of Consumer Finance at Kellogg School of Management and a research associate of the NBER. Michael Woodford is the John Bates Clark Professor of Political Economy at Columbia University and a research associate of the NBER.

About this edition

• Publisher: University of Chicago Press Journals
• Publication date: 2013
• ISBN 10: 022605280X
• ISBN 13: 9780226052809
• Binding: Paperback
• Number of pages: 448
• Editor: Acemoglu Daron, Parker Jonathan A., Woodford Michael