Handbook of Macroeconomics: Volume 2A, 1st Edition

John B. Taylor Stanford University
Harald Uhlig
Published By: North Holland
ISBN-10: 0444594787
ISBN-13: 9780444594785
DDC: 339
Grade Level Range: 11th Grade - College Senior
1374 Pages | eBook
Original Copyright 2016 | Published/Released June 2017
This publication's content originally published in print form: 2016

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About

Overview

This reference surveys all major advances in macroeconomic scholarship since the publication of Volume 1 (1999), carefully distinguishing between empirical, theoretical, methodological, and policy issues. It courageously examines why existing models failed during the financial crisis, and also addresses well-deserved criticism head on. With contributions from the world's chief macroeconomists, its reevaluation of macroeconomic scholarship and speculation on its future constitute an investment worth making.

Table of Contents

Front Cover.
Half Title Page.
Title Page.
Copyright Page.
Introduction to the Series.
Contents.
Editor’s Biography.
Contributors.
Group Photos.
Preface.
Acknowledgments.
The Facts of Economic Growth and Economic Fluctuation.
1: The Facts of Economic Growth.
2: Macroeconomic Shocks and Their Propagation.
3: Macroeconomic Regimes and Regime Shifts.
4: The Macroeconomics of Time Allocation.
5: Who Bears the Cost of Recessions? The Role of House Prices and Household Debt.
6: Allocative and Remitted Wages: New Facts and Challenges for Keynesian Models.
7: Fiscal and Financial Crises.
The Methodology of Macroeconomics.
8: Dynamic Factor Models, Factor-Augmented Vector Autoregressions, and Structural Vector Autoregressions in Macroeconomics☆.
9: Solution and Estimation Methods for DSGE Models.
10: Recursive Contracts and Endogenously Incomplete Markets.
11: Macroeconomics and Household Heterogeneity.
12: Natural Experiments in Macroeconomics.
13: Accounting for Business Cycles.
14: Incomplete Information in Macroeconomics: Accommodating Frictions in Coordination.
15: New Methods for Macro-Financial Model Comparison and Policy Analysis.
Index.

Meet the Author

Author Bio

John B. Taylor

John B. Taylor, a highly regarded and widely honored figure, has earned numerous awards for both teaching and leadership in International Finance. Dr. Taylor is currently the Raymond Professor of Economics at Stanford University, where he has received the Hoagland Prize for excellence in undergraduate teaching and Rhodes Prize for teaching introductory economics. Dr. Taylor was founding Director of the innovative Stanford Introductory Economics Center and has served as Director of the Stanford Institute for Economic Policy Research. Since 1976, Dr. Taylor has worked in numerous government economic advisory roles. From 2001 to 2005, Dr. Taylor served as Undersecretary of Treasury for International Affairs, where he developed and implemented U.S. international financial policy, including currencies; trade in financial services; foreign investment, international debt; and reform of the International Monetary Fund, the World Bank, and other international financial institutions. Dr. Taylor was awarded the Medal of the Republic of Uruguay for his work in resolving the 2002 financial crisis. He was awarded the Treasury Distinguished Service Award for designing and implementing the financial reconstruction plan in Iraq and was awarded the Alexander Hamilton Award for his leadership in international finance. His accomplishments include helping to assemble an international coalition to freeze terrorist assets, expediting Afghanistan's economic reconstruction, creating a new currency and central bank in Iraq, forging an international agreement to reduce Iraq's debt by 80 percent, and creating a new economic engagement with Broader Middle East and North African countries. Taylor received his B.A. in Economics summa cum laude from Princeton University and Ph.D. in Economics from Stanford University.