This is the fourth in a series of annuals from the National Bureau of Economic Research that are designed to stimulate research on problems in applied economics, to bring frontier theoretical developments to a wider audience, and to accelerate the interaction between analytical and empirical research in macroeconomics.
Contributions to this 1989 edition include: The Monetary History After Twenty-Five Years: New Evidence on the Money-Output Relationship, Christina Romer and David Romer. Restrictions on Financial Intermediaries and Implecations for Aggregate Fluctuations: Canada and the U.S., 1870-1908, Stephen Williamson. The Thatcher "Miracle," Charles Bean with Jim Symons. The Revised NBER Indexes of Coincident and Leading Economic Indicators, James Stock and Mark Watson. Consumption, Income, and Interest Rates: The Euler Equation Approach Ten Years Later, John Campbell and N. Gregory Mankiw. U.S. Earnings and Income Inequality: Recent Trends, Frank Levy. Business Cycle Models with Increasing Returns, Kevin Murphy, Andrei Shleifer, and Robert Vishny.
Olivier Blanchard and Stanley Fischer are both Professors of Economics at MIT.
About the Editors
Olivier J. Blanchard is Economic Counselor and Director of the Research Department at the International Monetary Fund. He is the author of Macroeconomics, among other books, and coauthor of Lectures on Macroeconomics (MIT Press).
Stanley Fischer is Governor of the Bank of Israel. First Deputy Managing Director of the International Monetary Fund from 1994 to 2001, Fischer is the author of IMF Essays from a Time of Crisis: The International Financial System, Stabilization, and Development (MIT Press).