The "NBER Macroeconomics Annual" provides a forum for important
debates in contemporary macroeconomics and major developments in
the theory of macroeconomic analysis and policy that include
leading economists from a variety of fields. The papers and
accompanying discussions in "NBER Macroeconomics Annual 2009"
address how heterogeneous beliefs interact with equilibrium
leverage and potentially lead to leverage cycles, the validity of
alternative hypotheses about the reason for the recent increase in
foreclosures on residential mortgages, the credit rating crisis,
quantitative implications for the evolution of the U.S. wage
distribution, and noisy business cycles.
General
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