Bringing Macroeconomics into the Lab

Roberto Ricciuti

No 03/9, Royal Holloway, University of London: Discussion Papers in Economics from Department of Economics, Royal Holloway University of London

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 single-issue 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.

Pages: 45 pages
Date: 2003-12, Revised 2003-12
New Economics Papers: this item is included in nep-hpe and nep-mac
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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 (2004)
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