NBER Macroeconomics Annual 2012, Volume 27.

• Position: Bureau Books

NBER Macroeconomics Annual 2012, Volume 27, edited by Daron Acemoglu, Jonathan Parker, and Michael Woodford, is available from the University of Chicago Press in June 2013. This volume includes both theoretical and empirical contributions that encompass macro-economic research on topics that relate to the business cycle and economic growth, as well as papers that address important policy-relevant questions.

Two papers shed light on causes of the recent financial crisis: how firms accessed credit during the financial crisis, and how the risk in mortgage lending was measured in the United Kingdom in the decades before the crisis. Other papers in this volume include: a study of individual prices over time, which draws out the implications of observed price adjustment for macroeconomic models of price stickiness; a focus on the implications of microeconomic estimates of labor supply for the determination of employment...