7 A "Modern" View of Macroeconomics

Chapters in this book

1. Frontmatter i
2. Contents v
3. Tables ix
4. Figures xi
5. Preface xiii
6. Abbreviations xv
7. 1 Introduction 1
8. 2 The MC Model 16
9. 3 Interest Rate Effects 61
10. 4 Testing the NAIRU Model 67
11. 5 U.S. Wealth Effects 80
12. 6 Testing for a New Economy in the 1990s 85
13. 7 A "Modern" View of Macroeconomics 101
14. 8 Estimated European Inflation Costs 108
15. 9 Stochastic Simulation and Bootstrapping 114
16. 10 Certainty Equivalence 130
17. 11 Evaluating Policy Rules 134
18. 12 EMU Stabilization Costs 147
19. 13 RE Models 154
20. 14 Model Comparisons 163
21. 15 Conclusion 173
22. Appendix A The US Model 179
23. Appendix B The ROW Model 239
24. References 285
25. Index 293