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The "NBER International Seminar on Macroeconomics" brings together leading American and European economists to discuss a broad range of current issues in global macroeconomics. An international companion to the more American-focused "NBER Macroeconomics Annual," the distinguished ISoM has met annually in Europe for over thirty years. Papers in this year s volume fall into three categories: productivity in the international economy; a view of demand stimulus through the lens of the high level of unemployment that most advanced countries experience in the recent global recession; and nominal...

Dale T. Mortensen and Christopher A. Pissarides are the recipients (with Peter Diamond) of the Nobel memorial Prize in Economics 2010. They have made path-breaking contributions to the analysis of markets with search and matching frictions, which account for much of the success of job search theory and the flows approach in becoming a leading tool for microeconomic and macroeconomic analysis of labor markets. Both scientists have gained groundbreaking insights through individual as well as joint research. Consequently, this volume not only features several papers which helped shape the...

Dale T. Mortensen and Christopher A. Pissarides are the recipients (with Peter Diamond) of the Nobel memorial Prize in Economics 2010. They have made path-breaking contributions to the analysis of markets with search and matching frictions, which account for much of the success of job search theory and the flows approach in becoming a leading tool for microeconomic and macroeconomic analysis of labor markets. Both scientists have gained groundbreaking insights through individual as well as joint research. Consequently, this volume not only features several papers which helped shape the...