The NBER International Seminar on Macroecomics brings together leading American and European ecomists to discuss a broad range of current issues in global macroecomics. An international companion to the more American-focused NBER Macroecomics Annual, this particular volume offers cutting-edge research on monetary and fiscal policy responses to macroecomic fluctuations, with special emphasis on tailoring a single monetary policy for the diverse ecomies that make up the European Monetary Union. The individual papers examine such topics as whether rule-based monetary policy should target price levels or inflation rates; how much cyclical correlation across countries can be attributed to transmission between multinational companies and their international affiliates; the different effects of monetary policy in high-debt and low-debt countries; and the prospects for the ten 2004 entrants to the European Union, based on the experiences of EU entrants of the 1980s.
Richard H. Clarida is C. Lowell Harriss Professor of Economics at Columbia University. He is a member of the Council of Foreign Relations and a research fellow at the NBER.
MIT Press Ltd
Date of Publication
Economics: Professional & General
NBER International Seminar on Macroeconomics
Place of Publication
Country of Publication
Francesco Giavazzi, Jeffrey A. Frankel, Kenneth D. West, Richard H. Clarida