Table of Contents

Part 4: Consumption and Investment. 11. Consumption (O.P. Attanasio). 12. Aggregate investment (R.J. Caballero). 13. Inventories (V.A. Ramey, K.D. West). Part 5: Models of Economic Fluctuations. 14. Resuscitating real business cycles (R.G. King, S. Rebolo). 15. Staggered price and wage setting in macroeconomics (J.B. Taylor). 16. The cyclical behavior of prices and costs (J.J. Rotemberg, M. Woodford). 17. Labor-market frictions and employment fluctuations (R.E. Hall). 18. Job reallocation, employment fluctuations and unemployment (D.T. Mortensen, C.A. Pissarides).

About the Author

John B. Taylor is the Mary and Robert Raymond Professor of Economics at Stanford University and the George P. Schultz Senior Fellow in Economics at the Hoover Institution. Between 2001 and 2005 he served as Under Secretary for the Treasury for International Affairs. In 2010 he received the Bradley Prize for his dedication and intellectual achievements, and is the recipient of the Alexander Hamilton Award for his overall leadership in international finance at the US Treasury. He has also received a Guggenheim Fellowship for his research.