This is the eighth in a series of annuals from the National Bureau of Economic Research that are 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.
Olivier Blanchard and Stanley Fischer are both Professors of Economics at the Massachusetts Institute of Technology.
Contents: U.S. Commercial Banking. Trends, Cycles, and Policy, John Boyd and Mark Gertler. The Effects of Government Purchases: Theory and Evidence, Anton Braun and Ellen McGrattan. Macroeconomic Growth with Microeconomic Empirics, Ricardo Caballero and Adam Jaffe. The Chinese and East European Routes to Reform, Alan Gelb, Gary Jefferson, and Inderjit Singh. Waiting and the Option to Invest. Theory and Evidence, Robert Pindyck and Andres Solimano. Unemployment in Europe, Gilles Saint Paul.
About the Editors
Olivier Blanchard is Robert Solow Professor at the Massachusetts Institute of Technology and Economic Counselor and Director of the Research Department at the International Monetary Fund.
Stanley Fischer is former Governor of the Bank of Israel and has been nominated as Vice Chair of the Federal Reserve]. He is the author of IMF Essays from a Time of Crisis: The International Financial System, Stabilization, and Development (MIT Press).