NBER International Seminar on Macroeconomics 2004

NBER International Seminar on Macroeconomics 2004
Richard H. Clarida, Jeffrey A. Frankel, Francesco Giavazzi and Kenneth D. West, editors

The MIT Press, 2006
Paper: $30.00; Cloth: $60.00
533 pages
ISBN: 0-262-53287-5 (paper); 0-262-03360-7 (cloth)

Some chapters may have appeared as NBER Working Papers, which are preliminary versions of the published papers.

Table of Contents:

    Introduction, p. 1-13
    Richard H. Clarida, Jeffrey A. Frankel, Francesco Giavazzi and Kenneth D. West

    Part I: Macroeconomic Flucatuations and Policy Response

    1. The Source of Historical Economic Fluctuations: An Analysis using Long-Run Restrictions, p. 17-49
    Neville Francis and Valerie A. Ramey

      Comment: Harald Uhlig, p. 50-69
      Comment: Susanto Basu, p. 70-73

    2. Optimal Monetary and Fiscal Policy in a Liquidity Trap, p. 75-131
    Gauti B. Eggertsson and Michael Woodford

      Comment: Tor Einarsson, p. 132-135
      Comment: Eric M. Leeper, p. 136-144

    3. Rule-Based Monetary Policy under Central Bank Learning, p. 145-181
    Kosuke Aoki and Kalin Nikolov

      Comment: Fabio Canova, p. 182-189
      Comment: V.V. Chari, p. 190-195

    4. The Comovement of Returns and Investment within the Multinational Firm, p. 197-230
    Mihir A. Desai and C. Fritz Foley

      Comment: José Manuel Campa, p. 231-234
      Comment: Evi Pappa, p. 235-237

    Part II: Macroeconomic Policy in a Union of Diverse Economies

    5. How Do Monetary and Fiscal Policy Interact in the European Monetary Union? p. 241-299
    Matthew B. Canzoneri, Robert E. Cumby and Behzad T. Diba

      Comment: Gauti B. Eggertsson, p. 300-316
      Comment: Carlo A. Favero, p. 317-325

    6. Does it Cost to be Virtuous? The Macroeconomic Effects of Fiscal Constraints, p. 327-361
    Fabio Canova and Evi Pappa

      Comment: Kenneth D. West, p. 362-365
      Comment: Gylfi Zoega, p. 366-370

    7. Can Endogenous Changes in Price Flexibility Alter the Relative Welfare Performance of Exchange Rate Regimes? p. 371-400
    Ozge Senay and Alan Sutherland

      Comment: Gianluca Benigno, p. 401-406
      Comment: Matthew B. Canzoneri, p. 407-411

    8. Saving and Cohabitation: The Economic Consequences of Living with One's Parents in Italy and the Netherlands, p. 413-441
    Rob Alessie, Agar Brugiavini and Guglielmo Weber

      Comment: Mihir A. Desi, p. 442-445
      Comment: Michael McMahon, p. 446-457

    9. Is Poland the Next Spain? p. 459-523
    Francesco Caselli and Silvana Tenreyro

      Comment: Jeffrey A. Frankel, p. 524-531
      Comment: Richard H. Clarida, p. 532-533

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