Details

Autor(en) / Beteiligte

• Taylor, John B.,
• Uhlig, Harald,

Titel

Handbook of macroeconomics. 2

Auflage

First edition

Ort / Verlag

Amsterdam : Elsevier,

Erscheinungsjahr

[2016]

Link zum Volltext

• Elsevier Books AutoHoldings

Beschreibungen/Notizen

• Includes index.
• Intro -- Title page -- Table of Contents -- Copyright -- Introduction to the Series -- Editor's Biography -- Contributors -- Group Photos -- Preface -- The State of Macro, the Financial Crisis, and New Currents -- Summary -- Acknowledgments -- Volume 2A -- Section 1: The Facts of Economic Growth and Economic Fluctuation -- Chapter 1: The Facts of Economic Growth -- Abstract -- 1 Growth at the Frontier -- 2 Sources of Frontier Growth -- 3 Frontier Growth: Beyond GDP -- 4 The Spread of Economic Growth -- 5 Conclusion -- Acknowledgments -- Chapter 2: Macroeconomic Shocks and Their Propagation -- Abstract -- 1 Introduction -- 2 Methods for Identifying Shocks and Estimating Impulse Responses -- 3 Monetary Policy Shocks -- 4 Fiscal Shocks -- 5 Technology Shocks -- 6 Additional Shocks -- 7 Summary and Conclusions -- Acknowledgments -- Chapter 3: Macroeconomic Regimes and Regime Shifts -- Abstract -- 1 Introduction: Economic Recessions as Changes in Regime -- 2 Econometric Treatment of Changes in Regime -- 3 Economic Theory and Changes in Regime -- 4 Conclusions and Recommendations for Researchers -- Appendix -- Acknowledgments -- Chapter 4: The Macroeconomics of Time Allocation -- Abstract -- 1 Introduction -- 2 Trends in Market Work -- 3 A Theory of Time Use -- 4 Time-Use Data -- 5 Long-Run Trends in Time Use -- 6 Life Cycle Variation in Time Use -- 7 Conclusion and Discussion -- Acknowledgments -- Chapter 5: Who Bears the Cost of Recessions? The Role of House Prices and Household Debt -- Abstract -- 1 Introduction -- 2 Who Bears Recession Risk? Existing Research -- 3 Zip Code-Level Consumption Measures -- 4 Housing Net Worth Shock and the Great Recession -- 5 Models Most Closely Related to These Facts -- 6 Aggregate Evidence on Household Debt -- 7 Conclusion -- Acknowledgments.
• Chapter 6: Allocative and Remitted Wages: New Facts and Challenges for Keynesian Models -- Abstract -- 1 Introduction -- 2 Defining "The Wage" -- 3 Background and Related Literature -- 4 The Benchmark Model -- 5 Empirical Measures of Real Wages -- 6 Comparing the Model and the Data -- 7 Conclusion -- Acknowledgments -- Chapter 7: Fiscal and Financial Crises -- Abstract -- 1 Introduction -- 2 Historical Overview -- 3 Financial and Fiscal Crises: A Long-Run Review of Theoretical Developments -- 4 Empirics of Financial Crises Over the Long Run -- 5 Fiscal Crises, Banking Crises, and the Fiscal Crisis Trilemma -- 6 Conclusions -- Acknowledgments -- Section 2: The Methodology of Macroeconomics -- Chapter 8: Dynamic Factor Models, Factor-Augmented Vector Autoregressions, and Structural Vector Autoregressions in Macroeconomics -- Abstract -- 1 Introduction -- 2 DFMs: Notation and Summary of Econometric Methods -- 3 DFMs for Macroeconomic Monitoring and Forecasting -- 4 Identification of Shocks in Structural VARs -- 5 Structural DFMs and FAVARs -- 6 A Quarterly 200 + Variable DFM for the United States -- 7 Macroeconomic Effects of Oil Supply Shocks -- 8 Critical Assessment and Outlook -- Acknowledgments -- Chapter 9: Solution and Estimation Methods for DSGE Models -- Abstract -- 1 Introduction -- Part I Solving DSGE Models -- 3 A General Framework -- 4 Perturbation -- 5 Projection -- 6 Comparison of Perturbation and Projection Methods -- 7 Error Analysis -- Part II Estimating DSGE Models -- 9 Statistical Inference -- 10 The Likelihood Function -- 11 Frequentist Estimation Techniques -- 12 Bayesian Estimation Techniques -- 13 Conclusion -- Acknowledgments -- Chapter 10: Recursive Contracts and Endogenously Incomplete Markets -- Abstract -- 1 Introduction -- 2 A Simple Model of Dynamic Insurance -- 3 Advanced Topics -- 4 Applications -- 5 Conclusion.
• Acknowledgments -- Chapter 11: Macroeconomics and Household Heterogeneity -- Abstract -- 1 Introduction -- 2 The Great Recession: A Heterogeneous Household Perspective -- 3 A Canonical Business Cycle Model with Household Heterogeneity -- 4 Calibration of the Benchmark Economy -- 5 Evaluating the Benchmark Economy -- 6 Cross-Sectional Household Heterogeneity and the Aggregate Dynamics of Consumption and Investment in a Severe Crisis -- 7 Inequality and Aggregate Economic Activity -- 8 Conclusion -- Acknowledgments -- Appendices -- Chapter 12: Natural Experiments in Macroeconomics -- Abstract -- 1 Introduction -- 2 Verification: The Permanent Income Hypothesis -- 3 Quantification: The Fiscal Multiplier -- 4 Identification: Causal Factors in Economic Growth -- 5 Critical Assessment and Outlook -- Appendix -- Acknowledgments -- Chapter 13: Accounting for Business Cycles -- Abstract -- 1 Demonstrating the Equivalence Result -- 2 The Accounting Procedure -- 3 Applying the Accounting Procedure -- 4 Conclusion -- Acknowledgments -- Appendix -- Chapter 14: Incomplete Information in Macroeconomics: Accommodating Frictions in Coordination -- Abstract -- 1 Introduction -- 2 Framework -- 3 Imperfect Coordination -- 4 Global Games: Theory -- 5 Global Games: Applications -- 6 Coordination and Synchronization -- 7 Beauty Contests: Theory -- 8 Beauty Contests: Applications -- 9 Efficiency and Policy Implications -- 10 Conclusion -- Appendix Proofs -- Acknowledgments -- Chapter 15: New Methods for Macro-Financial Model Comparison and Policy Analysis -- Abstract -- 1 Introduction -- 2 Literature on Model Comparison and Policy Robustness -- 3 A Systematic Approach to Model Comparison -- 4 Practical Problems and a New Platform -- 5 Comparing Fiscal and Monetary Policy Transmission Using the New Platform -- 6 Comparing Implications of New Macro-Financial Models.
• 7 How to Assess Policy Robustness: An Illustrative Example -- 8 Critical Assessment and Outlook -- Acknowledgments -- Handbook of Macroeconomics Volume 2B -- Volume 2B -- Section 3: Financial-Real Connections -- Chapter 16: Wholesale Banking and Bank Runs in Macroeconomic Modeling of Financial Crises -- Abstract -- 1 Introduction -- 2 The Growth and Fragility of Wholesale Banking -- 3 Basic Model -- 4 Numerical Experiments -- 5 Anticipated Runs -- 6 Two Productive Assets and Spillover Effects -- 7 Government Policy -- 8 Summary and Directions for Future Research -- Appendices -- Chapter 17: Housing and Credit Markets: Booms and Busts -- Abstract -- 1 Introduction -- 2 A Stark Model -- 3 Related Literature: Households' Leverage -- 4 A Simple Model of Catastrophes -- 5 Related Literature: Sentiments and Bubbles -- 6 A Simple Model of Sentiments -- 7 Evidence -- 8 Conclusions -- Acknowledgments -- Chapter 18: Macro, Money, and Finance: A Continuous-Time Approach -- Abstract -- 1 Introduction -- 2 A Simple Real Economy Model -- 3 A Model with Price Effects and Instabilities -- 4 A Simple Monetary Model -- 5 Critical Assessment and Outlook -- Acknowledgments -- Chapter 19: Housing and Macroeconomics -- Abstract -- 1 Introduction -- 2 Facts -- 3 Theory -- 4 Theory vs Data -- Acknowledgments -- Chapter 20: Term Structure of Uncertainty in the Macroeconomy -- Abstract -- 1 Introduction -- 2 Mathematical Framework -- 3 Asset Pricing over Alternative Investment Horizons -- 4 Relation to Impulse Response Functions -- 5 Discrete-Time Formulas and Approximation -- 6 Continuous-Time Approximation -- 7 Models with Financial Constraints in Continuous Time -- 8 Directions for Further Research -- Acknowledgments -- Appendices -- Chapter 21: Quantitative Models of Sovereign Debt Crises -- Abstract -- 1 Introduction -- 2 Motivating Facts -- 3 Environment.
• 4 Benchmark Models -- 5 Benchmark Results with Nonlinear Default Costs -- 6 Rollover Crises -- 7 Extensions and Literature Review -- 8 Conclusion: Where We've Been and Where We Need to Go? -- Acknowledgments -- Section 4: Models of Economic Growth and Fluctuations -- Chapter 22: RBC Methodology and the Development of Aggregate Economic Theory -- Abstract -- 1 Introduction -- 2 A Brief History of Business Cycles -- 3 The Nature of the Discipline -- 4 Major Developments and Their Applications Post-1995 -- 5 Intangible Capital Expands the Applicability of the Theory -- 6 Concluding Comments -- Chapter 23: Families in Macroeconomics -- Abstract -- 1 Introduction -- 2 The Family and the Macroeconomy in the Short and Medium Run -- 3 The Family and Economic Growth -- 4 The Family and the Political Economy of Institutional Change -- 5 Conclusion -- Acknowledgments -- Appendices -- Chapter 24: Environmental Macroeconomics -- Abstract -- 1 Introduction -- 2 Limited Natural Resources and Sustainability Concerns -- 3 Climate Change: The Natural-Science Background -- 4 A Static Global Economy-Climate Model -- 5 Dynamic IAMs -- Chapter 25: The Staying Power of Staggered Wage and Price Setting Models in Macroeconomics -- Abstract -- 1 Introduction -- 2 An Updated Empirical Guide to Wage and Price Setting in Market Economies -- 3 Origins of the Staggered Wage and Price Setting Model -- 4 A Canonical Staggered Price and Wage Setting Model -- 5 Generalizations and Extensions -- 6 Derivation of Staggered Price Setting When Firms Have Market Power -- 7 Price and Wage Setting Together -- 8 Persistence of Inflation and Indexing -- 9 Taylor Contracts and Calvo Contracts -- 10 State-Dependent Models and Time-Dependent Models -- 11 Wage-Employment Bargaining and Staggered Contracts -- 12 Staggered Contracts vs Inattention Models -- 13 Critical Assessment and Outlook.
• Acknowledgment.
• Description based on online resource; title from PDF title page (ebrary, viewed November 22, 2016).