Understanding the Great Recession — An Interview with Larry Christiano

Following our discussion on post-2008 Macroeconomics developments and the importance of DSGE models in part I of the interview, we asked Prof. Christiano about one of his recent and important research paper “Understanding the Great Recession”. What does his model tell us about the Great Recession? Does labor participation rate have a role in the developments of the Great Recession? These are the questions we’ve discussed with Prof. Christiano, and he has some great answers.




A Macroeconomic Earthquake – How Larry Christiano thinks about the Post-2008 Macroeconomics?

In this interview, Prof Christiano shared his view on the development of post-2008 academic macroeconomics. We’ve asked Prof Christiano does he agree that modern macroeconomic models are too complicated for the general public, or even policymakers and if he agrees that economic models should be “simpler”. Does he think the recent revival of ISLM model a “good trend”? Should Macroeconomists hang on their faith in DSGE models? Should they explore alternative paths?




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The effects of Unconventional Exchange Rate and Monetary Policy, as explained by Joseph Gagnon

This is the latest installment of our interview series “Where is the General Theory of the 21st Century?”. “Where is the General Theory of the 21st Century?” is an interview series that explore the evolution of macroeconomics academia since the Great Recession. Do we have some revolutionary changes in the … …Click to read the whole thing…




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Atif Mian on The Major Shifts in Macroeconomics Since the Great Recession

This is the latest installment of our interview series “Where is the General Theory of the 21st Century?”. “Where is the General Theory of the 21st Century?” is an interview series that explore the evolution of macroeconomics academia since the Great Recession. Do we have some revolutionary changes in the … …Click to read the whole thing…




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Politics and the Economics of Banking Crises with Charles Calomiris

Welcome to the latest installment of our interview series “Where is the General Theory of the 21st Century?” “Where is the General Theory of the 21st Century?” is an interview series which we ask top economists a very important question: “Why haven’t economists come up with a new General Theory … …Click to read the whole thing…




Why Kocherlakota is Disappointed with Post-Great Recession Macroeconomics?

Welcome to the latest installment of our interview series “Where is the General Theory of the 21st Century?” “Where is the General Theory of the 21st Century?” is an interview series which we ask top economists a very important question: “Why haven’t economists come up with a new General Theory … …Click to read the whole thing…




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Kocherlakota on How to Reform the Federal Reserve System

Welcome to the latest installment of our interview series “Where is the General Theory of the 21st Century?” “Where is the General Theory of the 21st Century?” is an interview series which we ask top economists a very important question: “Why haven’t economists come up with a new General Theory … …Click to read the whole thing…




How the Game of Bank Bargains Created the Financial Crisis? Calomiris Explains

Welcome to the latest installment of our interview series “Where is the General Theory of the 21st Century?” “Where is the General Theory of the 21st Century?” is an interview series which we ask top economists a very important question: “Why haven’t economists come up with a new General Theory … …Click to read the whole thing…