Paperback : $146.00
Since the middle of the twentieth century, economists have invested great resources into using statistical evidence to relate macroeconomic theories to the real world, and many new econometric techniques have been employed. In these two volumes, a distinguished group of economic theorists, econometricians, and economic methodologists examine how evidence has been used and how it should be used to understand the real world.Volume 1 focuses on
the contribution of econometric techniques to understanding the macroeconomic world. It covers the use of evidence to understand the business cycle, the operation of monetary policy, and economic growth.
A further section offers assessments of the overall impact of recent econometric techniques such as cointegration and unit roots.Volume 2 focuses on the labour market and economic policy, with sections covering the IS-LM model, the labour market, new Keynesian macroeconomics, and the use of macroeconomics in official documents (in both the USA and the EU).These volumes will be valuable to advanced undergraduates, graduate students, and practitioners
for their clear presentation of opposing perspectives on macroeconomics and how evidence should be used. The chapters are complemented by discussion sections revealing the perspectives of other
contributors on the methodological issues raised.
Since the middle of the twentieth century, economists have invested great resources into using statistical evidence to relate macroeconomic theories to the real world, and many new econometric techniques have been employed. In these two volumes, a distinguished group of economic theorists, econometricians, and economic methodologists examine how evidence has been used and how it should be used to understand the real world.Volume 1 focuses on
the contribution of econometric techniques to understanding the macroeconomic world. It covers the use of evidence to understand the business cycle, the operation of monetary policy, and economic growth.
A further section offers assessments of the overall impact of recent econometric techniques such as cointegration and unit roots.Volume 2 focuses on the labour market and economic policy, with sections covering the IS-LM model, the labour market, new Keynesian macroeconomics, and the use of macroeconomics in official documents (in both the USA and the EU).These volumes will be valuable to advanced undergraduates, graduate students, and practitioners
for their clear presentation of opposing perspectives on macroeconomics and how evidence should be used. The chapters are complemented by discussion sections revealing the perspectives of other
contributors on the methodological issues raised.
1: Introduction to Volume 1
Business Cycles
2: Dan Harding and Adrian Pagan: Knowing the cycle
3: Craig Burnside, Martin Eichenbaum and Jonas D.M. Fisher: Fiscal
shocks in an efficiency wage model
4(a): James Hartley: The return of business cycles
Monetary policy
5: David F. Hendry: Does money determine UK inflation over the long
run?
6: Bennett T. McCallum: Recent developments in monetary policy
analysis: the roles of theory and evidence
7(a): Mary S. Morgan: Explanatory strategies for monetary policy
analysis
7(b): Monetary policy: general discussion
The influence of recent developments in econometric techniques
8: Katarina Juselius: Models and relations in economics and
econometrics
9: Ron P. Smith: Unit roots and all that: the impact of time-series
methods on macroeconomics
10(a): Kevin D. Hoover: Models all the way down
10(b): Carlo Favero: New econometric techniques and
macroeconomics
10(c): Econometric techniques: general discussion
Growth
11: Steven N. Durlauf: Econometric analysis and the study of
economic growth: a sceptical perspective
12: Paolo Sylos Labini: Growth models and the explanation of the
forces behind the development process
13: Andrea Salanti: Why so much scepticism about growth theory?
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