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NBER Macroeconomics Annual 1986 Edited by Stanley Fischer This is the first issue of a new Annual from the National Bureau of Economic Research. The Annual is designed to stimulate research on problems in applied economics, to bring frontier theoretical developments to a wider audience, and to accelerate the interaction between analytical and empirical research in macroeconomics. Macroeconomics is becoming increasingly sophisticated and, at the same time, increasingly remote from current issues. As the profession loses touch with these issues, however, both it and economic policy suffer. Macroeconomics divorced from policy lacks vitality, and policy loses from the lack of serious, objective analysis. Contents: Hysteresis and the European Unemployment Problem, Olivier Blanchard (MIT) and Lawrence Summers (Harvard); comments by John Kennan and Robert Hall. Efficiericy Wage Theories: A Partial Evaluation, Lawrence Katz (Berkeley); comments by Lawrence Weiss and Joseph Altonji. The Budget Deficit and the Dollar, Martin Feldstein (Harvard); comments by Alan Stockman and Rudiger Dombusch. Why is Japan's Saving Rate So Apparently High? Fumio Hayashi (Osaka); comments by Albert Ando and Paul Roemer. Do Equilibrium Real Business Cycle Theories Explain Post-War U.S. Business Cycles? Martin Eichenbaum and Kenneth Singleton (Carnegie-Mellon); comments by Robert Barro and N. Gregory Mankiw. Macroeconomic implication of Profit-Sharing, Martin Weitzman (MIT); comments by Alan Blinder and Russell Cooper. Stanley Fischer is Professor of Economics at MIT. About the Editor Stanley Fischer became Governor of the Bank of Israel in May of 2005. He has also served as Vice Chairman of Citigroup, Inc., First Deputy Managing Director of the International Monetary Fund, and Killian Professor and Head of the Department of Economics at MIT. Before his service in the IMF from 1994 to 2001, he was Killian Professor and Head of the Department of Economics at MIT. See Other Titles In:
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