Advances in Economics and Econometrics: Theory and Applications, Eighth World Congress

by Edited by Mathias Dewatripont , Lars Peter Hansen , Stephen J. Turnovsky

• ISBN13: 9780521524131
• ISBN10: 052152413X
• Format: Paperback
• Copyright: 2003-01-20
• Publisher: Cambridge University Press

Summary

This is the third of three volumes containing edited versions of papers and commentaries presented in invited symposium sessions of the Eighth World Congress of the Econometric Society. The papers summarize and interpret recent key developments and discuss future directions in a wide range of topics in economics and econometrics. The papers cover both theory and applications. Written by leading specialists in their fields these volumes provide a unique survey of progress in the discipline.

Table of Contents

List of Contributors	ix
Preface	xi
Contracting Constraints, Credit Markets, and Economic Development	1	(46)
Abhijit V. Banerjee
Factor Models in Large Cross Sections of Time Series	47	(40)
Lucrezia Reichlin
Macroeconomic Forecasting Using Many Predictors	87	(28)
Mark W. Watson
``Big Data'' Dynamic Factor Models for Macroeconomic Measurement and Forecasting: A Discussion of the Papers by Lucrezia Reichlin and by Mark W. Watson	115	(8)
Francis X. Diebold
How Severe Is the Time-Inconsistency Problem in Monetary Policy?	123	(28)
Stefania Albanesi
V. V. Chari
Lawrence J. Christiano
New Perspectives on Monetary Policy, Inflation, and the Business Cycle	151	(47)
Jordi Gali
Comments on Papers by Stefania Albanesi, V. V. Chari, and Lawrence J. Christiano and by Jordi Gali	198	(11)
Christopher A. Sims
Consumption Smoothing and Extended Families	209	(34)
Orazio P. Attanasio
Jose-Victor Rios-Rull
Computational Methods for Dynamic Equilibria with Heterogeneous Agents	243	(48)
Kenneth L. Judd
Felix Kubler
Karl Schmedders
Index	291