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NBER Macroeconomics Annual 2006
edited by Daron Acemoglu, h Rogoff, and Michael Woodford
This 21st edition of the NBER Macroeconomics Annual treats many questions at the
cutting edge of macroeconomics that are central to current policy debates. The first
four papers and discussions focus on such current macroeconomic issues as how
structural-vector-autoregressions help identify sources of business cycle fluctuations Macr
and the evolution of . macroeconomic policies. The last two papers analyze the-
oretical developments in optimal taxation policy and equilibrium yield curves.
Daron Acemoglu is Charles P. Kindleberger Professor of Applied Economics at
MIT. h Rogoff is Thomas D. Cabot Professor of Public Policy and Professor of
Economics at Harvard University. Michael Woodford is John Bates Clark Professor oeconomics Annual
of Political Economy at Columbia University. All three are research associates of the
National Bureau of Economic Research.
Contents
Lawrence J. Christiano, Martin Eichenbaum, and Robert Vigfusson
ASSESSING STRUCTURAL VARS
(comments by Patrick J. Kehoe and Mark W. Watson)
Steven J. Davis, John Haltiwanger, Ron Jarmin, and Javier Miranda
VOLATILITY AND DISPERSION IN BUSINESS GROWTH RATES: PUBLICLY
TRADED VERSUS PRIVATELY HELD FIRMS
(comments by Christopher Foote and Éva Nagypál) Macroeconomics
Lars Ljungqvist and Thomas J. Sargent
DO TAXES EXPLAIN EUROPEAN EMPLOYMENT? INDIVISIBLE LABOR, HUMAN
CAPITAL, LOTTERIES, AND SAVINGS Annual
(comments by Olivier Blanchard and Edward C. Prescott)
Troy Davig and Eric M. Leeper 2006 2006
FLUCTUATING MACRO POLICIES AND THE FISCAL THEORY
(comments by Jordi Galí and Christopher Sims)
Mikhail Golosov, Aleh Tsyvinski, and Iván Werning
NEW DYNAMIC PUBLIC FINANCE: A USER’S GUIDE
(comments by Peter Diamond and h L. Judd)
Monika Piazzesi and Martin Schneider
V
EQUILIBRIUM YIELD CURVES olume 21
(comments by P