Intro -- Abstracts -- Introduction -- 1 The Source of Historical Economic Fluctuations: An Analysis using Long-Run Restrictions -- Comment Harald Uhlig, Humboldt Universität zu Berlin, Tilburg University, Bundesbank, and CEPR -- 2 Optimal Monetary and Fiscal Policy in a Liquidity Trap --...

Since the onset of the Great Recession, an explosion of both theoretical and empirical research has investigated how the financial crisis emerged and how it was transmitted to the real sector. The goal of this paper is to describe what we have learned from this new research and how it can be...