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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
Experiments in Macroeconomics

Experiments in Macroeconomics

Duffy, John

Hardcover

Series: Research in Experimental Economics, Book 17

Economics

ISBN10: 1784411957
ISBN13: 9781784411954
Publisher: Emerald Pub Ltd
Published: Nov 14 2014
Pages: 300
Weight: 1.27
Height: 1.20 Width: 6.00 Depth: 9.10
Language: English
Macroeconomic models and assumptions have traditionally been evaluated using non-experimental field data. However, in many instances the field data necessary to evaluate such models and assumptions are not available. Recently, researchers have begun to explore ways of implementing micro-founded macroeconomic models in the controlled conditions of the experimental laboratory as an alternative means of gathering the data necessary to address the empirical relevance of macroeconomic models and assumptions as well as to understand questions of equilibrium selection or policy prescriptions. This volume is the first-ever collection of laboratory studies aimed at understanding macroeconomic phenomena. The chapters, by leading researchers in the field, explore consumption behavior, expectation formation, monetary economics and central bank policy in a variety of different macroeconomic models. Readers will come away with a better understanding of how to implement macroeconomic models in the laboratory and the valuable insights that laboratory research can bring to our understanding of macroeconomics.

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