Contenidos:
Acknowledgments, xi -- Introduction, xiii -- I. The rational expectations approach to macroeconomic policymaking -- 1. After Keynesian macroeconomics / Robert E. Lucas Jr. and Thomas J. Sargent, 5 -- 2. Rational expectations and the reconstruction of macroeconomics / Thomas J. Sargent, 31 -- 3. Time consistency and optimal policy design / V.V. Chari, 41 -- II. Monetary and budget policy analysis in closed economies, 67 -- 4. A legal restrictions theory of the demand for money and the role of monetary policy / Neil Wallace, 73 -- 5. Some of the choices for monetary policy / Neil Wallace, 85 -- 6. Some unpleasant monetarist arithmetic / Thomas J. Sargent and Neil Wallace, 103 -- 7. Some pleasant monetarist arithmetic / Michael R. Darby, 131 -- 8. A reply to Darby / Preston J. Miller and Thomas J. Sargent, 141 -- 9. Intergenerational linkages and government budget policies / S. Rao Aiyagari, 151 -- 10. Playing by the rules: a proposal for federal budget reform / V.V. Chari and Preston J. Miller, 169 -- III. Monetary and budget policy analysis in open economies, 193 -- 11. Why markets in foreign exchange are different from other markets / Neil Wallace, 197 -- 12. International coordination of macroeconomic policies: a welfare analysis / Preston J. Miller and Neil Wallace, 209 -- 13. A case for fixing exchange rates / Arthur J. Rolnick and Warren E. Weber, 243 -- IV. Business cycle analysis, 259 -- 14. Theory ahead of business cycle measurement / Edward C. Prescott, 265 -- 15. Some skeptical observations on real business cycle theory / Lawrence H. Summers, 289 -- 16. Response to a skeptic / Edward C. Prescott, 297 -- 17. Business cycles: real facts and a monetary myth / Finn E. Kydland and Edward C. Prescott, 307 -- 18. The labor market in real business cycle theory / Gary D. Hansen and Randall Wright, 335 -- 19. Economic fluctuations without shocks to fundamentals or, does the stock market dance to its own music? / S. Rao Aiyagari, 355 -- V. Empirical macroeconomics, 387 -- 20. Why is consumption less volatile than income? / Lawrence J. Christiano, 391 -- 21. Modeling the liquidity effect of a money shock / Lawrence J. Christiano, 391 -- References, 483 -- Index, 501
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