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Macroeconomics

Institutions, Instability, and the Financial System

Carlin and Soskice integrate the financial system with a model of the macro-economy. In doing this, they take account of the gaps in the mainstream model exposed by the financial crisis and the Eurozone crisis. This equips the reader with a realistic modelling framework to analyse the economy both in crisis times and in periods of stability.

Aghion, P., Harris, C., Howitt, P. and Vickers, J. (2001) Competition, imitation and
growth with step-by-step innovation. The Review of Economic Studies, 68(3):467
–492. Aghion, P., Hemous, D. and Kharroubi, E. (forthcoming) Cyclical fiscal ...