This is the eleventh volume in a series of annuals from the National Bureau of Ecomic Research that are designed to present, extend, and apply frontier work in macroecomics, and to encourage and stimulate work by macroecomists on current policy issues. These contributions offer a good sample of the current issues and exciting research directions in macroecomics.Contents : Credit, Business Investment, and Output Fluctuations in Japan, Nobuhiro Kiyotaki and Kenneth D. West. Causes and Consequences of Imperfections in the Consumer Price Index, Matthew D. Shapiro and David Wilcox. A Scorecard for Indexed Government Debt, John Y. Campbell and Robert J. Shiller. Techlogy Improvements and Productivity Slowdowns: Ather Crazy Explanation, Andreas Hornstein and Per Krusell. Are Currency Crises Self-Fulfilling?, Paul Krugman. Inequity and Growth, Roland Benabou.
Ben S. Bernanke is the Howard Harrison and Gabrielle Snyder Beck Professor of Economics and Public Affairs at Princeton University.