NBER International Seminar on Macroeconomics 2012, Volume 9.

• Position: Bureau Books

NBER International Seminar on Macroeconomics 2012, Volume 9, edited by Francesco Giavazzi and Kenneth West, is available from the University of Chicago Press in July 2013. The International Seminar on Macroeconomics has met annually in Europe for over thirty years. The topics covered in this year's volume fall into four categories: exchange rates, global business cycles, the financial crisis, and unemployment and the Great Recession.

The chapters include a study of capital account policies which sometimes are used to peg the real exchange rate and an analysis of panel data from OECD countries that can characterize and explain changes in house prices. Other studies explore some issues central to the financial crisis, such as its impact on trade flows, the effects of...