Suchergebnisse

1. Building blocks -- 2. The Kydland-Prescott research program : from "optimal stabilization" and "time inconsistency" to "time to build" -- 3. Kydland-Prescott and Long-Plosser : development and cross-fertilization -- 4. Themes, variations, and initial extensions -- 5. Debates, augmentation, and variations on the theme.

The purpose of this book is to describe the intellectual process by which Real Business Cycle models were developed. The approach taken focuses on the core elements in the development of RBC models: (i) building blocks, (ii) catalysts, and (iii) meta-syntheses. This is done by detailed examination of all available unpublished variorum drafts of the key papers in the RBC story, so as to determine the origins of the ideas. The analysis of the process their discovery is then set out followed by explanations of the evolution and dissemination of the models, from first generation papers through ful.

In Time Series Analysis and Adjustment the authors explain how the last four decades have brought dramatic changes in the way researchers analyze economic and financial data on behalf of economic and financial institutions and to provide statistics. An understanding of time series and the application and knowledge of related time series adjustment procedures is essential in areas such as risk management, business cycle analysis, and forecasting. The case studies in this book demonstrate that time series adjustment methods can be efficaciously applied and utilized, for both analysis and forecas.

In this essay, we focus on three district Federal Reserve Bank presidents who took on the role of public intellectual in the 1970s and early 1980s. They reflected their districts' economic concerns, presenting them and their own views at the Federal Open Market Committee (FOMC) while expressing both in public pronouncements in speeches and in print. Despite possible dissonance, the presidents were able to integrate information emerging from their district constituents with the overall state of the national economy in their input to the FOMC, while explaining the economic situation—in the framework of their economic worldviews—to the public at large, that is to say, both communicating their views externally and disturbing the internal status quo of economic thinking at the Federal Reserve.