TY  - BOOK
AU  - Kehoe,Patrick
AU  - Chari,Varadarajan V.
ED  - National Bureau of Economic Research.
TI  - Modern Macroeconomics in Practice: How Theory is Shaping Policy 
T2  - NBER working paper series
PY  - 2006///
CY  - Cambridge, Mass.
PB  - National Bureau of Economic Research
N1  - August 2006; Hardcopy version available to institutional subscribers
N2  - Theoretical advances in macroeconomics made in the last three decades have had a major influence on macroeconomic policy analysis. Moreover, over the last several decades, the United States and other countries have undertaken a variety of policy changes that are precisely what macroeconomic theory of the last 30 years suggests. The three key developments that have shaped macroeconomic policy analysis are the Lucas critique of policy evaluation due to Robert Lucas, the time inconsistency critique of discre-tionary policy due to Finn Kydland and Edward Prescott, and the development of quantitative dynamic stochastic general equilibrium models following Finn Kydland and Edward Prescott
UR  - https://www.nber.org/papers/w12476
UR  - http://dx.doi.org/10.3386/w12476
ER  -