Bringing Macroeconomics into the Lab

Roberto Ricciuti ()

Labsi Experimental Economics Laboratory University of Siena from University of Siena

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)
JEL-codes: C91 C92 E20 E40 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-exp, nep-hpe and nep-mac
Date: 2005-12
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http://www.econ-pol.unisi.it/labsi/labsi_paper/labsi4.pdf (application/pdf)

Related works:
Working Paper: Bringing Macroeconomics into the Lab (2004)
Working Paper: Bringing Macroeconomics into the Lab (2003)
Journal Article: Bringing macroeconomics into the lab (2008)
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Persistent link: http://EconPapers.repec.org/RePEc:usi:labsit:004

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