This is the ninth 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.
Contents: On the Speed of Transition in Eastern Europe, Philippe Aghion and Olivier Jean Blanchard. The Costs of Business Cycles with Incomplete Markets, Andrew Atkeson and Christopher Phelan. The U.S. Fiscal Problem: Where We Are, How We Got Here and Where We Are Going, Alan Auerbach. The East Asian Miracle Economies, John Page. What Ends Recessions? Christina Romer and David Romer. Toward a Modern Macroeconomic Model Usable for Policy Analysis, Christopher Sims and Eric Leeper.
About the Editor
Stanley Fischer is former Governor of the Bank of Israel and has been nominated as Vice Chair of the Federal Reserve]. He is the author of IMF Essays from a Time of Crisis: The International Financial System, Stabilization, and Development (MIT Press).