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