This is the second in a new 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.ContentsRicardian Equivalence, Douglas Bernheim (Stanford and NBER); comments by Marjorie Flavin and Charles Plosser • Success Stories of Economic Development, Kemal Dervis (The World Bank) and Peter Petri (Brandeis); comments by Arnold Harberger and Miguel Urrutia • Exchange Rate Dynamics, Jeffrey Frankel (University of California, Berkeley and NBER), Richard Meese (University of California, Berkeley); comments by Robert Flood and Patrick Minford • The U.S. Productivity Slowdown, Paul Romer (University of Rochester); comments by Ben Bernanke and Martin Baily • The New Keynesian Microfoundations, Julio Rotemberg (MIT and NBER); comments by N. Gregory Mankiw and Robert King • Why is the U.S. Unemployment Rate So High? Robert Topel (University of Chicago and NBER); comments by William Dickens and David Lilien • Methods and Ideas in the Development of Macroeconomics, Lawrence Summers (Harvard and NBER); comments by Alan Blinder, Lars Hansen and Robert Hall
About the Author
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).