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NBER Macroeconomics Annual 2003

NBER Macroeconomics Annual 2003
Mark Gertler and Kenneth Rogoff, editors

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

Table of Contents:

Editorial (p. 1-4)
Mark Gertler and Kenneth Rogoff

Abstracts (p. 5-8)

1. The Case of the Missing Productivity Growth, Or Does Information Technology Explain Why Productivity Accelerated in the United States But Not in the United Kingdom? (p. 9-63)
Susanto Basu, John G. Fernald, Nicholas Oulton, and Sylaja Srinivasan


Comment: Olivier Blanchard (p. 64-71)
Comment: Giovanni L. Violante (p.72-80)

Discussion (p. 80-82)

2. On the Welfare Consequences of the Increase in Inequality in the United States, (p. 83-121)
Dirk Krueger and Fabrizio Perri


Comment: Steven J. Davis (p. 121-132)
Comment: Kjetil Storesletten (p. 132-137)


Discussion (p. 137-138)

3. Perspectives on Behavioral Finance: Does "Irrationality" Disappear with Wealth? Evidence from Expectations and Actions, (p. 139-194)
Annette Vissing-Jorgenson


Comment: John Y. Campbell (p. 194-200)
Comment: Owen A. Lamont (p. 200-207)


Discussion (p. 207-208)

4. Disagreement about Inflation Expectations, (p. 209-248)
N. Gregory Mankiw, Ricardo Reis and Justin Wolfers


Comment: Robert G. King (p. 248-257)
Comment: John C. Williams (p. 257-268)


Discussion (p. 268-270)

5. Optimal Monetary and Fiscal Policy: A Linear-Quadratic Approach, (p. 271-333)
Pierpaolo Benigno and Michael Woodford


Comment: Stefania Albanesi (p. 333-350)
Comment: George-Marios Angeletos (p. 350-361)


Discussion (p. 361-363)

6. Inflation Targeting in Emerging Market Economies, (p. 365-400)
Arminio Fraga, Ilan Goldfajn and André Minella


Comment: Robert E. Hall (p. 400-403)
Comment: Frederic S. Mishkin (p. 403-413)


Discussion (p. 413-415)