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TRANSCRIPT
Identification in
Macroeconomics
by Emi Nakamura and Jón SteinssonJournal of Economic Perspectives
Volume 32, Number 3—Summer 2018—Pages 59–86
James J. Heckman
Econ 312, Spring 2019
Nakamura and Steinsson Identification in Macroeconomics
The Power of Portable Statistics
Micro and Macro Moments
Nakamura and Steinsson Identification in Macroeconomics
Causal Effects as Identified Moments
Aggregate versus Cross-Sectional Identification
Nakamura and Steinsson Identification in Macroeconomics
Fiscal Stimulus: Aggregate Evidence
Fiscal Stimulus: Cross-Sectional Evidence
Nakamura and Steinsson Identification in Macroeconomics
Monetary Policy: What Is the Best Evidence We Have?
Large Shocks
Nakamura and Steinsson Identification in Macroeconomics
Nakamura and Steinsson Identification in Macroeconomics
Nakamura and Steinsson Identification in Macroeconomics
Nakamura and Steinsson Identification in Macroeconomics
Discontinuity-Based Identification
Using the Narrative Record to Identify Shocks
Nakamura and Steinsson Identification in Macroeconomics
Nakamura and Steinsson Identification in Macroeconomics
Controlling for Confounding Factors
Nakamura and Steinsson Identification in Macroeconomics
Nakamura and Steinsson Identification in Macroeconomics
Nakamura and Steinsson Identification in Macroeconomics
What Do We Do with These Shocks?
Conclusion