This volume addresses key challenges and advancements in macroeconomic research, aiming to bridge theoretical and empirical work. The National Bureau of Economic Research's seventh annual collection features contributions from leading economists, focusing on monetary policy, international trade, and asset pricing. It explores the interplay between factor accumulation and technological change, and analyzes the implications of imperfect information for macroeconomic models. The collection also revisits the debt crisis, offering historical perspectives and potential lessons.

This collection is recognized as a significant contribution to macroeconomic scholarship, bringing together influential papers that explore critical areas of the field. The included research is designed to foster further investigation into applied economics and to disseminate cutting-edge theoretical developments. The volume's focus on both analytical and empirical research highlights its role in accelerating interaction within the macroeconomic community. Its contents provide a valuable resource for academics and policymakers seeking to understand contemporary economic challenges.