Christopher A. Pissarides

Jeffrey A. Frankel

The NBER International Seminar on Macroeconomics brings together leading American andEuropean economists to discuss a broad range of current issues in global macroeconomics. Aninternational companion to the more American-focused NBER Macroeconomics Annual, the 2005 volumefirst explores macroeconomic issues of interest to all advanced economies, then analyzes topicalquestions concerning the eastward expansion of the European Monetary Union.Jeffrey A. Frankel isJames W. Harpel Professor of Capital Formation and Economic Growth at Harvard University's John F.Kennedy School of Government. Christopher A. Pissarides is Professor of Economics at the LondonSchool of Economics. Both are Research Associates at the National Bureau of EconomicResearch.

NBER International Seminar on Macroeconomics 2005

Costas Meghir

Dimitri Vayanos

Nikolaos Vettas

Prominent economists present detailed analyses of the conditions that made Greece vulnerable to economic crisis and offer policy recommendations for comprehensive and radical change. More than eight years after the global financial crisis began, the economy of Greece shows little sign of recovery, and its position in the eurozone seems tenuous. Between 2008 and 2014, incomes in Greece shrank by more than 25 percent, homes lost more than a third of their value, and the unemployment rate reached 27 percent. Most articles on Greece in the media focus on the effects of austerity, repayment of its debt, and its future in the eurozone. In Beyond Austerity: Reforming the Greek Economy, leading Greek economists from institutions both within and outside Greece, take a broader and deeper view of the Greek crisis, examining the pathologies that made Greece vulnerable to the crisis and the implications for the entire eurozone. Each chapter takes on a specific policy area, examining it in terms of Greece's economic reality and offering possible directions for policy. The topics range from macroeconomic issues to markets and their regulation to finance to the public sector. Individual chapters address the costs and benefits of participation in the eurozone, Greece's international competitiveness, taxation, pensions, the labor market, privatization, product markets, finance, education, healthcare, corruption, the justice system, and public administration. The contributors argue that Greek institutions require a deep overhaul rather than quick fixes to enable long-term growth and prosperity.

Reforming the Greek Economy

Beyond Austerity

Dale Mortensen

Job Creation and Job Destruction in the Theory of Unemployment

This book focuses on the modeling of the transitions in and out of unemployment, given the stochastic processes that break up jobs and lead to the formation of new jobs, and on the implications of this approach for macroeconomic equilibrium and for the efficiency of the labor market. An equilibrium theory of unemployment assumes that firms and workers maximize their payoffs under rational expectations and that wages are determined to exploit the private gains from trade. This book focuses on the modeling of the transitions in and out of unemployment, given the stochastic processes that break up jobs and lead to the formation of new jobs, and on the implications of this approach for macroeconomic equilibrium and for the efficiency of the labor market. This approach to labor market equilibrium and unemployment has been successful in explaining the determinants of the "natural" rate of unemployment and new data on job and worker flows, in modeling the labor market in equilibrium business cycle and growth models, and in analyzing welfare policy. The second edition contains two new chapters, one on endogenous job destruction and one on search on the job and job-to-job quitting. The rest of the book has been extensively rewritten and, in several cases, simplified.

Christopher A. Pissarides

About

Books

Join the club