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In standard macroeconomic models incorporating the natural rate hypothesis and rational expectations, monetary policy has no effect on real variables. But the rational expectations assumption that e...
This paper is a sumaary of remarks for a panel discussion on "Rational Expectations and the Control of the Econcatym. After a brief review of the major issues in this area, it is argued that the c...
During the past decade the theoretical framework underlying macroeconomic stabilization analysis has undergone a number of significant developments. Theories designed to explain the crucial linkage ...
Review of Macroeconomic Analysis and Stabilization Policy by Stephen J. Turnovsky.
There are a number of reasons for this new emphasis. Increased attention to expectations has led to the need to specify future as well as current policy actions and hence to the specification of pol...
Recent Changes in Macro Policy and Its Effects: Some Time Series Evidence.
The paper examines international issues that arise in the design and evaluation of macroeconomic policy rules. It begins with a theoretical investigation of the effects of fiscal and monetary policy...
During the last 15 years econometric techniques for evaluating macroeconomic policy using dynamic stochastic models in which expectations are consistent, or rational, have been developed extensively...
My assignment for this paper is to provide an up-to-date review of the rational expectations debate about whether activist monetary and fiscal policies can improve macroeconomic performance. Prepari...
The Current Account and Macroeconomic Policy: An Econometric Analysis.
The Use of the New Macroeconometrics for Policy Formulation.
Macroeconomic Policy and Unemployment in the 1990s.
This draft was prepared for the Robert A. Mundell Festschrift Conference, organized by Guillermo Calvo, Rudi Dornbusch, and Maury Obstfeld and held at the World Bank, Washington, D.C., October 24, 1...

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