Over-borrowing and financial stress has recently become an important issue in macroeconomic and policy discussions in the US as well as in the EU. In this paper the authors study two regimes of financial stress. In a regime of high financial stress, stress shocks can have large and persistent...

Dieses Werk tritt im deutschsprachigen Raum die Nachfolge von Barros Makroökonomie an. Inhaltlich entspricht es der vierten Auflage von Barros Makroökonomie im amerikanischen Original. Diese wurde aber auf die europäische Perspektive hin und im Bereich der europäischen Institution...

This book gives a comprehensive description of macroeconometric modeling and its development over time. The first part depicts the history of macroeconometric model building, starting with Jan Tinbergen's and Lawrence R. Klein's contributions. It is unique in summarizing the development and...