"Setting macroeconomic policy is especially difficult in fragile states. Macroeconomic Policy in Fragile States addresses the many issues involved and considers ways to improve the effectiveness of macroeconomic management in the face of these constraints."

The theory and practice of stabilization policy has taken many turns as it evolved over the past century, oscillating between high hopes and deep skepticism regarding the capacity - and desirability - of governments taking responsibility for macroeconomic stability. This paper reviews the...

Introduction: Time and Economic Policy -- Intertemporal Choices, Information, and Opportunity Sets: The Effectiveness of Monetary Policy -- Thinking Outside the Box: Giancarlo Marini, A Rigorous Eclectic Economist -- Fiscal Policy and Sovereign Debt Dynamics: (Re-)Assessing the Intertemporal...

Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economists refer to as 'hysteresis,' argues for unifying the analysis of growth and cycles. In this paper, we review the recent empirical and...