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Klappentext In these two volumes! a group of distinguished economists debate the way in which evidence! in particular econometric evidence! can and should be used to relate macroeconomic theories to the real world. Topics covered include the business cycle! monetary policy! economic growth! the impact of new econometric techniques! the IS-LM model! the labor market! new Keynesian macroeconomics! and the use of macroeconomics in official documents. Zusammenfassung This work focuses on the contribution of econometric techniques to understanding the macroeconomic world. It also focuses on the labour market and economic policy, with sections covering the ISLM model, the labour market, new Keynesian macroeconomics, and other areas. 1. Introduction to Volume 1; BUSINESS CYCLES; 2. Knowing the cycle; 3. Fiscal shocks in an efficiency wage model; 4(a) The return of business cycles; MONETARY POLICY; 5. Does money determine UK inflation over the long run?; 6. Recent developments in monetary policy analysis: the roles of theory and evidence; 7(a) Explanatory strategies for monetary policy analysis; 7(b) Monetary policy: general discussion; THE INFLUENCE OF RECENT DEVELOPMENTS IN ECONOMETRIC TECHNIQUES; 8. Models and relations in economics and econometrics; 9. Unit roots and all that: the impact of time-series methods on macroeconomics; 10(a) Models all the way down; 10(b) New econometric techniques and macroeconomics; 10(c) Econometric techniques: general discussion; GROWTH; 11. Econometric analysis and the study of economic growth: a sceptical perspective; 12. Growth models and the explanation of the forces behind the development process; 13. Why so much scepticism about growth theory?
