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Bringing Macroeconomics into the Lab

  • Roberto Ricciuti

    ()

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 partial equilibrium 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.

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File URL: http://www.econ-pol.unisi.it/labsi/labsi_paper/labsi4.pdf
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Paper provided by University of Siena in its series Labsi Experimental Economics Laboratory University of Siena with number 004.

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Date of creation: Dec 2005
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Handle: RePEc:usi:labsit:004
Contact details of provider: Postal: Piazza San Francesco 7, 53100 Siena
Web page: http://www.depfid.unisi.it/

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