This book brings together a collection of key readings in modern macroeconomics. Each article has been chosen to provide the reader with accessible, non-technical papers which assess the controversies within modern macroeconomics.

This broad survey of unemployment will be a major source of reference for both scholars and students.

Real Business Cycle theory combines the remains of monetarism with the new classical macroeconomics, and has become one of the dominant approaches within contemporary macroeconomics today. This volume presents: * the authoritative anthology in RBC. The work contains the major articles introducing and extending the theory as well as critical literature * an extensive introduction which contains an expository summary and critical evaluation of RBC theory * comprehensive coverage and balance between seminal papers and extensions; proponents and critics; and theory and empirics. Macroeconomics is a compulsory element in most economics courses, and this book will be an essential guide to one of its major theories.

Allan H. Meltzer (1928–2017), a leading monetary economist of the twentieth century, is memorialized in eleven essays by prominent economists. Among his achievements, Meltzer transformed the field of central banking and dissected the economic disasters of the 1930s and late 2000s, as well as the avoidance of disaster in the 1970s. Focusing on his landmark A History of the Federal Reserve, 1913–1986, the first section argues that the Fed's biggest successes are tied to its adherence to classical monetary theory and also examines the monetarist counterrevolution. Next, the book turns to Meltzer's thinking on the monetary transmission mechanism and his close work with Karl Brunner on the Brunner-Meltzer Model; it argues that Meltzer's understanding of monetary economics could be used to measure the impact of the Fed's activities. Finally, Meltzer's contributions to public policy are examined, including his proposed reforms to the International Monetary Fund and his activities at the Carnegie Mellon Graduate School of Industrial Administration. The conference papers that compose this volume celebrate Meltzer's fifty-year career at Carnegie Mellon. The book ends with a transcribed interview, conducted just a few months before his death, in which he shares sharp-witted insights about economics and his legacy. Contributors: Michael Bordo, James Bullard, Joshua R. Hendrickson, Robert Hetzel, Peter N. Ireland, Robert Lucas, Edward Nelson, Gerald P. O'Driscoll Jr., Charles Plosser, George Selgin, and John Taylor.

The editors have organised this comprehensive series by theme and each volume focuses on those Laureates working in the same broad area of study. The careful selection of papers within each volume is set in context by an insightful introduction to the Laureates' careers and main published works. --