Since the financial meltdown of 2007, advanced macroeconomic theory has delved more deeply into the question of the appropriate fiscal policy when the nominal interest rate is close to or at zero percent. Such analysis is typically conducted with the aid of New Keynesian Dynamic Stochastic...

Many instructors in subjects such as economics are frequently concerned with how to teach technical material to undergraduate students with limited mathematical backgrounds. One method that has proven successful for the authors is to connect theoretically sophisticated material with actual data....