NBER Macroeconomics Annual 2006

Discussions of questions at the cutting edge of macroeconomics that are central to contemporary policy debates, analyzing both current macroeconomic issues and recent theoretical advances.

This 21st edition of the NBER Macroeconomics Annual treats many questions at the cutting edge of macroeconomics that are central to current policy debates. The first four papers and discussions focus on such current macroeconomic issues as how structural-vector-autoregressions help identify sources of business cycle fluctuations and the evolution of U.S. macroeconomic policies. The last two papers analyze theoretical developments in optimal taxation policy and equilibrium yield curves.

Daron Acemoglu is Institute Professor in the Department of Economics at MIT and a Research Associate of the National Bureau of Economic Research. He is coauthor of Why Nations Fail and The Narrow Corridor.

Kenneth Rogoff is Thomas D. Cabot Professor of Public Policy and Professor of Economics at Harvard University.

Michael Woodford is John Bates Clark Professor of Political Economy at Columbia University and a Research Associate of the National Bureau of Economic Research.