<DIV>The twenty-eighth edition of the <I>NBER Macroeconomics Annual </I>continues its tradition of featuring theoretical and empirical research on central issues in contemporary macroeconomics. As in previous years, this volume not only addresses recent developments in macroeconomics, but also takes up...</i></div>

<DIV>The twenty-ninth edition of the <I>NBER Macroeconomics Annual </I>continues its tradition of featuring theoretical and empirical research on central issues in contemporary macroeconomics. Two papers in this year’s issue deal with recent economic performance: one analyzes the evolution of aggregate...</i></div>

<DIV><DIV><P>The <I>NBER Macroeconomics Annual </I>provides a forum for important debates in contemporary macroeconomics and major developments in the theory of macroeconomic analysis and policy. . The papers and accompanying discussions in <I>NBER Macroeconomics Annual 2008</I>, which<DIV>include contributions from leading...</div></i></i></p></div></div>

<DIV>Over the past fifteen years, a significant number of industrialized and middle-income countries have adopted inflation targeting as a framework for monetary policymaking. As the name suggests, in such inflation-targeting regimes, the central bank is responsible for achieving a publicly announced...</div>

<DIV><DIV><P>The <I>NBER Macroeconomics Annual </I>provides a forum for important debates in contemporary macroeconomics and major developments in the theory of macroeconomic analysis and policy that include leading economists from a variety of fields. The papers and accompanying discussions in <I>NBER Macroeconomics...</i></i></p></div></div>

<DIV>The <I>NBER Macroeconomics Annual</I> provides a forum for important debates in contemporary macroeconomics and major developments in the theory of macroeconomic analysis and policy that include leading economists from a variety of fields. The papers and accompanying discussions in <I>NBER Macroeconomics...</i></i></div>

<DIV><DIV>The twenty-sixth edition of the <I>NBER Macroeconomics Annual</I> continues its tradition of featuring theoretical and empirical contributions that shed light on central issues in contemporary macroeconomics, pushing the frontiers of macroeconomic work in areas ranging from short-run macroeconomic...</i></div></div>

We consider optimal monetary stabilization policy in a New Keynesian model with explicit microfoundations, when the central bank recognizes that private-sector expectations need not be precisely model-consistent, and wishes to choose a policy that will be as good as possible in the case of any...

We consider a general class of nonlinear optimal policy problems with forward-looking constraints, and show how to derive a problem with linear constraints and a quadratic objective that approximates the exact problem. The solution to the LQ approximate problem represents a local linear...

While many analyses of monetary policy consider only the adjustment of a central bank's target for a short-term nominal interest rate, other dimensions of policy have recently been of greater importance: changes in the supply of bank reserves beyond those required to achieve an interest-rate...