"The NBER Macroeconomics Annuals" provide a forum for important
debates in contemporary macroeconomics and major developments in
the theory of macroeconomic analysis and policy. The papers and
accompanying discussions in "NBER Macroeconomics Annual 2007",
written by a group of top economists from a variety of fields,
address exchange rate models; implications of credit market
frictions; cyclical budgetary policy and economic growth; the
impacts of shocks to government spending on consumption, real
wages, and employment; dynamic macroeconomic models; and, the role
of cyclical entry of new firms and products on the nature of
business cycle fluctuations and on the effects of monetary policy.
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