Research in economics and macroeconomics

摘要

This Special Issue is about macroeconomics and follows our Winter 2015 issue which was also dedicated to this major field of economics. Modern macroeconomic models are often defined as dynamic stochastic general equilibrium (DSGE) models because they are microfounded on the basis of rational intertemporal choices and rational expectations of consumers and firms, they are subject to uncertainty due to shocks on endowments or technology and policy, and they feature prices for each market that equilibrate demand and supply. In this introductory essay we will overview the genesis of modern macroeconomics to frame and present the articles published in our journal. For further reading in the field we recommend the textbooks by Burda and Wyplosz (2012) at an introductory level and Turnovsky (2000) and Wickens (2012) at an advanced level.