Bringing Macroeconomics into the Lab

ICER Working Papers from ICER - International Centre for Economic Research

Abstract: This paper reviews experiments in macroeconomics, pointing out the theoretical justifications, the strengths and weaknesses of this approach. We identify two broad classes of experiments: general equilibrium and partial equilibrium experiments, and emphasize the idea of theory testing that is behind these. A large number of macroeconomic issues have been analyzed in the laboratory spanning from monetary economics to fiscal policy, from international trade and finance, to growth and macroeconomic imperfections. In a large number of cases results give support to the theories tested. We also highlight that experimental macroeconomics has increased the number of tools available to experimentalists.

Keywords: Macroeconomics; experiments (search for similar items in EconPapers)
Pages: 42 pages
Date: 2004-12
New Economics Papers: this item is included in nep-exp, nep-hpe and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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http://www.bemservizi.unito.it/repec/icr/wp2004/Ricciuti26-04.pdf (application/pdf)

Related works:
Journal Article: Bringing macroeconomics into the lab (2008)
Working Paper: Bringing Macroeconomics into the Lab (2005)
Working Paper: Bringing Macroeconomics into the Lab (2003)
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Persistent link: https://EconPapers.repec.org/RePEc:icr:wpicer:26-2004

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