The following big questions guide the Macroeconomics and Growth Research work program:
1) What are the determinants of macroeconomic outcomes (especially growth)? How are those outcomes linked to institutions and resource allocation at the micro level?
2) What is the role of governments in raising and allocating resources? What should governments do over the long run and in response to shocks?
The work program is organized around the following interrelated areas:
- Growth: Macro, regional (local), sectoral, firm growth; labor markets and human capital
- Firms and Aggregate Outcomes: Allocation of production and finance; competition
- Public economics/public finance: Domestic revenue mobilization, taxation, debt; government spending (fiscal policy, infrastructure, procurement); governance and institutions
- International economics: International and domestic financial markets; exchange rates and monetary policy; globalization