Handbook of Macroeconomics

Handbook of Macroeconomics

1st Edition - November 12, 2016
There is a Newer Edition Available
  • Editors: John B. Taylor, Harald Uhlig
  • eBook ISBN: 9780444594884
  • Hardcover ISBN: 9780444594877

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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.

Key Features

  • 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

Readership

Graduate students and professors worldwide working in all subdisciplines of economics and finance. Secondary audience will include researchers working in macroeconomics and related areas, such as growth, economic behavior, international economics, and modeling

Table of Contents

  • Section 1: The Facts of Economic Growth and Economic Fluctuation
    Chapter 1: RBC Methodology and the Development of Aggregate Economic Theory
    Chapter 2: The Facts of Economic Growth
    Chapter 3: Macroeconomic Shocks and Their Propagation
    Chapter 4: Macroeconomic Regimes and Regime Shifts
    Chapter 5: The Macroeconomics of Time Allocation
    Chapter 6: "Who Bears the Cost of Recessions? The Role of House Prices and Household Debt"
    Chapter 7: "Allocative and Remitted Wages: New Facts and Challenges for Keynesian Models"
    Chapter 8: Financial and Fiscal Crises
    Section 2: The Methodology of Macroeconomics
    Chapter 9: Factor Models and Structural Vector Autoregressions in Macroeconomics
    Chapter 10: Solution and Estimation Methods for DSGE Models
    Chapter 11: Recursive Contracts and Endogenously Incomplete Markets
    Chapter 12: Macroeconomics and Household Heterogeneity
    Chapter 13: Natural Experiments in Macroeconomics
    Chapter 14: Accounting for Business Cycles
    Chapter 15: "Incomplete Information in Macroeconomics: Accommodating Frictions in Coordination"
    Chapter 16: New Methods for Macro-Financial Model Comparison and Policy Analysis
    Section 3: Financial-Real Connections
    Chapter 17: "Wholesale Banking and Bank Runs in
    Macroeconomic Modelling of Financial Crises"
    Chapter 18: "Housing and Credit Markets: Bubbles and Crashes"
    Chapter 19: Macro, Money and Finance: A Continuous-Time Approach
    Chapter 20: Housing and Macroeconomics
    Chapter 21: Term Structure of Uncertainty in the Macroeconomy
    Chapter 22: Quantitative Models of Sovereign Debt Crises
    Section 4: Models of Economic Growth and Fluctuations
    Chapter 23: Families in Macroeconomics
    Chapter 24: Environmental Macroeconomics
    Chapter 25: The Staying Power of Staggered Wage and Price Setting Models in Macroeconomics
    Chapter 26: Neoclassical Models in Macroeconomics
    Chapter 27: Macroeconomics of Persistent Slumps
    Chapter 28: Macroeconomics and the Labor Market
    Section 5: Macroeconomic Policy
    Chapter 29: Challenges for Central Banks’Macro Models
    Chapter 30: Liquidity requirements, liquidity choice and financial stability
    Chapter 31: "Understanding Inflation as a Joint Monetary-Fiscal Phenomenon"
    Chapter 32: "Fiscal Multipliers: Liquidity Traps and Currency Unions"
    Chapter 33: What is a Sustainable Public Debt?
    Chapter 34: The Political Economy of Government Debt

Product details

  • No. of pages: 2744
  • Language: English
  • Copyright: © North Holland 2016
  • Published: November 12, 2016
  • Imprint: North Holland
  • eBook ISBN: 9780444594884
  • Hardcover ISBN: 9780444594877

About the Editors

John B. Taylor

John B. Taylor is the Mary and Robert Raymond Professor of Economics at Stanford University and the George P. Shultz Senior Fellow in Economics at Stanford’s Hoover Institution. He is also the director of Stanford's Introductory Economics Center. His research focuses on macroeconomics, monetary economics and international economics. He co-edited Volume 1 of the Handbook of Macroeconomics and recently wrote Getting Off Track, one of the first books on the financial crisis, and First Principles: Five Keys to Restoring America’s Prosperity. He served as senior economist and Member of the President’s Council of Economic Advisers. From 2001 to 2005, he served as undersecretary of the U.S. Treasury for international affairs. Taylor was awarded the Hoagland Prize and the Rhodes Prize by Stanford University for excellence in undergraduate teaching and the Stanford Economics Department Distinguished Faculty Teaching Award. He received the Truman Medal for Economic Policy for extraordinary contribution to the formation and conduct of economic policy, the Bradley Prize for his economic research and policy achievements, the Adam Smith Award from the National Association for Business Economics, the Alexander Hamilton Award and the Treasury Distinguished Service Award for his policy contributions at the US Treasury, and the Medal of the Republic of Uruguay for his work in resolving the 2002 financial crisis. Taylor received a BA in economics summa cum laude from Princeton and a PhD in economics from Stanford.

Affiliations and Expertise

Stanford University, Stanford, CA, USA

Harald Uhlig

Harald Uhlig, born 1961, is Professor at the Department of Economics of the University of Chicago since 2007, and was chairman of that department from 2009 to 2012. Previously, he held positions at Princeton, Tilburg University and the Humboldt Universität Berlin. His research interests are in quantitative macroeconomics, financial markets and Bayesian econometrics. He served as co-editor of Econometrica from 2006 to 2010 and as editor of the Journal of Political Economy since 2012 (head editor since 2013). He is a consultant of the Bundesbank, the European Central Bank and the Federal Reserve Bank of Chicago. He is a fellow of the Econometric Society and a recipient of the Gossen Preis of the Verein für Socialpolitik, awarded annually to an economist in the German-language area whose work has gained an international reputation.

Affiliations and Expertise

University of Chicago, Chicago, IL, USA