This 21st edition of the NBER Macroeconomics Annual treats many
questions at the cutting edge of macroeconomics that are central to
current policy debates. The first four papers and discussions focus
on such current macroeconomic issues as how
structural-vector-autoregressions help identify sources of business
cycle fluctuations and the evolution of U.S. macroeconomic
policies. The last two papers analyze theoretical developments in
optimal taxation policy and equilibrium yield curves.Daron Acemoglu
is Charles P. Kindleberger Professor of Applied Economics at MIT.
Kenneth Rogoff is Thomas D. Cabot Professor of Public Policy and
Professor of Economics at Harvard University. Michael Woodford is
John Bates Clark Professor of Political Economy at Columbia
University. All three are Research Associates of the National
Bureau of Economic Research.
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