Bringing macroeconomics into the lab

Roberto Ricciuti ()

Journal of Macroeconomics, 2008, vol. 30, issue 1, pages 216-237

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: monetary economics, fiscal policy, international trade and finance, growth, lifecycle consumption, labor markets, search models 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.

Date: 2008

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Related works:
Working Paper: Bringing Macroeconomics into the Lab (2004)
Working Paper: Bringing Macroeconomics into the Lab (2005)
Working Paper: Bringing Macroeconomics into the Lab (2003)
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Persistent link: http://EconPapers.repec.org/RePEc:eee:jmacro:v:30:y:2008:i:1:p:216-237

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