General Resources for Macroeconomics
and Financial Economics
- Last Updated: 19 February 2013
- Site maintained by:
- Department of Economics
- Iowa State University
- Ames, Iowa 50011-1070
tesfatsi AT iastate.edu
- Econ 353 (Undergraduate Money, Banking, and Financial Markets):
- Econ 502 (Master's Level Macro Theory):
- Econ 602 (Ph.D. Macro Theory I -- Growth Theory Module):
- Econ 606 (Ph.D. Advanced Macroeconomic Topics -- Coordination Module):
1.Provocative Sites for Thoughtful Young and Old(er) Economists
- The student-initiated
Real-World Economics Review
(formally known as the "Post-Autistic Economic Review") has its roots in a June 2000 petition initiated by students in Paris. The petition called for a reform of the economics curriculum to be based more solidly on empirical foundations and a careful reflection of concrete realities.
Economic Journal Watch (EJW),
sponsored by the American Institute for Economic Research (AIER),
publishes comments on articles appearing in economic journals and serves as a forum about economics research and the economics profession.
Marginal Revolution Blog
is co-maintained by Professors Tyler Cowen and Alex Taborrok at George Mason University in Fairfax, Virginia. Launched in March 2005, it covers a wide variety of current events and economic policy issues in a readable humorous fashion.
Paul Krugman's New York Times Opinion Pieces
include many nontechnical (and controversial) writings on important international policy issues of the day. See, also the
Unofficial Paul Krugman Archive
for links to many past writings and interviews by Krugman.
Brad DeLong's Blog
covers a wide variety of economic topics (e.g., business cycles, labor economics, monetary and fiscal policy, health care, the Internet, and development economics). DeLong is a professor of economics at UC Berkeley, California.
Greg Mankiw's Blog
covers a wide-ranging set of economic issues, with a particular stress on macroeconomic issues and current macroeconomic policy debates. Mankiw is a professor of economics at Harvard University.
Nouriel Roubini's Global Economics Blog
(the "RGE Monitor") covers a wide variety of issues in global finance. Roubini is a professor at the Stern School of Business, New York University.
I Dissent: Unconventional Economic Wisdom", monthly commentary by Nobel Laureate Joseph E. Stiglitz for Project Syndicate: A World of Ideas, a collection of original op-ed commentaries from around the world.
2. Macro and Financial Economics Websites with a Focus on the U.S.
A. Recent Theoretical Developments
- Mark Buchanan, "Meltdown Modeling: Could Agent-Based Computer Models Prevent Another Financial Crisis?"
Nature, Vol. 460, August 6, 2009, 680-682.
- J. Doyne Farmer and Duncan Foley, "The Economy Needs Agent-Based Modelling"
Nature, Vol. 460, August 6, 2009, 685-686 .
- Robert King, "New Classical Macroeconomics"
entry in the Concise Encyclopedia of Economics.
- N. Gregory Mankiw, "New Keynesian Economics"
entry in the Concise Encyclopedia of Economics.
- N. Gregory Mankiw, "The Macroeconomist as Scientist and Engineer"
Working Paper, Harvard University, May 2006.
- Edmund S. Phelps, "Macroeconomics for a Modern Economy"
Nobel prize lecture, Stockholm, Sweden, December 10, 2006.
- Leigh Tesfatsion, "Agent-Based Computational Modeling and Macroeconomics"
pp. 175-202 in David Colander (ed.), Post-Walrasian Macroeconomics: Beyond the Dynamic Stochastic
General Equilibrium Model, Cambridge University Press, Cambridge, UK, 2006.
- Abstract: Agent-based Computational Economics (ACE)
is the computational study of economic processes modeled as dynamic systems
of interacting agents. This essay discusses the potential of ACE modeling tools
for the study of macroeconomic systems. Points are illustrated using
an ACE model of a two-sector decentralized market economy.
- Michael Woodford, "Revolution and Evolution in Twentieth Century Macroeconomics
presented at the conference Frontier of the Mind in the Twenty-First Century, Library of Congress,
- Note: Woodford is the author of Interest and Prices: Foundations of a Theory of Monetary Policy (Princeton University Press, 1999), an influential new attempt to address macroeconomic stabilization policy from within a rational expectations framework.
- A website on
Learning and Coordination in Decentralized Market Economies
maintained by Leigh Tesfatsion (Econ, Iowa State University)
provides pointers to materials related to the computational study of
macroeconomies modeled as dynamic systems of interacting agents.
Economic Growth Resources Website
maintained by Jonathan Temple (Nuffield College, Oxford) provides
pointers to economic growth resources on the internet, including data,
literature, and working papers.
- A website on the
Econonomics of Networks
is maintained by Nicholas Economides (Stern School of Business, NYU).
- A website on the
Formation of Economic and Social Networks
is maintained by Leigh Tesfatsion (Economics, Iowa State University).
- A website on
is maintained by Hal Varian (SIMS, UC Berkeley).
- A website on
Learning and the Embodied Mind
is maintained by Leigh Tesfatsion (Economics, Iowa State University). Highlighted
at this site is research on learning representions for
strategically interacting agents in multi-market contexts, and research on behavioral
economics more generally as motivated by human-subject experiments.
- A website on
Macro Basics and the Evolution of Macroeconomic Theory
is maintained by the Department of Economics at the University of Rhode
Island, Kingston, RI. Online essays are provided covering the development of
macroeconomic theory in the 1930s, the 1960s, the 1970s, and the 1980s, with
a planned additional essay for the 1990s.
Quantitative Macro and Real Business Cycle Home Page
maintained by Christian Zimmermann (U of Quebec at Montreal) provides
pointers to work on stochastic dynamic general equilibrium theory motivated
by the methods and aims of real business cycle theory.
B. General Macro/Financial Policy Issues
- The annual
Economic Report of the President
is available online for current and past years.
U.S. Office of Management and Budget
provides information on current and past U.S. budgets.
Bureau of Economic and Business Affairs
(U.S. State Department) issues reports on a variety of economic issues.
in Washington D.C. is a private, independent, nonprofit research
organization that "seeks to improve the performance of American
institutions, the effectiveness of government programs, and the
quality of U.S. public policies." Macro source materials available
for downloading at the Brooking Institute's website include
Brookings policy briefs as well as research reports on foreign
policy and governmental studies.
Center on Budget and Policy Priorities
is a nonpartisan research organization and policy institute that conducts
research and analysis on a range of U.S. government policies and programs,
with an emphasis on those affections low-income and moderate-income people.
Congressional Budget Office (U.S. Congress)
provides information regarding the finances and programs of the U.S. Federal
National Bureau of Economic Research (NBER)
(Cambridge, Massachusetts) maintains a website that highlights the
recent NBER-sponsored publications of economists associated with the NBER,
outlines major NBER programs and projects, provides information on NBER
business cycle dating, and lists pointers to related websites of interest.
The New Economy Index
provides resources relating to structural transition that the U.S. economy
is currently undergoing in response to advances in information technology
Roubini Global Economics (RGE)
site is maintained by Nouriel Roubini (Stern School of Business, New York University). It provides links to a variety
of macro source materials, with a stress on current macro policy issues
facing the U.S.
Brad DeLong's website
(Econ, UC Berkeley) provides pointers to various interesting macro source
materials, including a paper entitled "Old Rules for the New Economy" that
discusses what he perceives to be the most important new aspect of the
post-industrial U.S. economy -- the fact that information processing and
distribution have become one of the leading sectors.
Paul Krugman's NYT Opinion Pieces
include many nontechnical (and controversial) writings on important international policy issues of the day.
C. Current Economic News
D. Data Sets and Data Analysis
The World Economic Outlook (IMF)
American Recovery and Reinvestment Act (ARRA) of 2009
Unemployment Rates by Country
Unemployment Rates for U.S. Metro Areas (Bureau of Labor Statistics)
Ease of Doing Business (World Bank)
Economagic Economic Time Series Page
maintained by Economagic Inc. provides access to an extensive variety of
economic time series data (primarily U.S.) with customized graphing and printing facilities.
site "unveils the beauty of statistical time series by converting boring numbers into enjoyable, animated and interactive graphics."
The site focuses on comparative time series data for economic, social, and environmental development at local, national, and global levels.
- The Library of Congress maintains a site titled
Databases: Library of Congres E-Resources Online Catalog
that provides a comprehensive listing of free, easily available time-series data (primarily U.S.) useful for economic research.
- A monthly compilation of economic information prepared by the U.S.
Council of Economic Advisors (CEA) for the Joint Economic Committee can be
Economic Indicators: Main Page
Bureau of Labor Statistics
provides a public database giving current and historical
data for a large variety of economic variables, including inflation and
consumer spending, employment and unemployment, wages, productivity, exports
and imports, and foreign labor statistics.
- The Bureau of Economic Analysis (BEA) provides comprehensive information
about the U.S. National Income and Product Accounts (NIPA), including
downloadable and interactively accessible data, at a site titled
National Income Accounts.
The BEA also provides a data page giving a
Summary Overview of the U.S. economy
in recent years and in recent quarters.
- The United States Interational Trade Commission (ITC) provides direct
access to data and reports on U.S. international trade at a website titled
Interactive Tariff and Trade DataWeb
provides access to current and historical economic and financial releases and to economic data both for the U.S. and abroad.
- The U.S. Federal Reserve Board maintains up-to-date
Financial Time Series Data
available for downloading in a format suitable for Excel spreadsheet
table and graphical representations.
- The Federal Reserve Bank of St. Louis provides a database of over 1000
U.S. economic time series in a variety of easy-to-use formats (e.g., MS Excel
and text formats), also viewable in chart form, at a site titled
FRED II (Federal Reserve Economic Data).
- Market Research International (Beaumont, Texas) supports a site titled
Financial Forecast Center.
This site provides freely available forecasts for stock prices, interest
rates, foreign exchange rates, and other key economic indicators. Current
economic indicators and historical data/graphs are also provided.
Congressional Budget Office Website
provides detailed data pertaining to U.S. Federal government expenditures and
the financing of these expenditures, past and present, as well as projected
budget surpluses and/or deficits under alternative possible expenditure and
financing scenarios for the future.
U.S. Government Printing Office (GPO)
disseminates official information from all three branches of the U.S. Federal
World Bank Data Site
provides download access to thousands of indicators from Workd Bank data sets.
United States Department of Commerce
consists of twelve different agencies providing data and assistance to U.S. businesses.
- A list of pointers to
Useful Economics Sites
is maintained by the Department of Economics at the University of Rhode
Island, Kingston, RI. These sites cover "good starting places," current U.S.
data series, international data, historical U.S. data series, general
sources, market information, and company information.
FedWorld Information Network
provides a comprehensive central access point for locating and
acquiring U.S. government information.
National Bureau of Economic Research (NBER) website
features a searchable index to over 5000 NBER working papers and
books issued since 1978, a macroeconomic history database (3500
different time series), the Penn-World Tables of country data, as
well as other materials.
- The Bureau of Labor Statistics provides
Foreign Labor Statistics
for a variety of countries.
- The U.S. Census Bureau maintains a website on
International Statistical Agencies.
Pacific Exchange Rate Service,
maintained by Werner Antweiler (University of British Columbia, Vancouver,
Canada), provides access to current and historic daily exchange rates through
an on-line database retrieval and plotting system. Other resources include:
a list of the currencies of the world; analyses and trend projections for the
Canadian Dollar, the U.S. dollar, and the Euro; surveys related to exchange
rate issues; and links to other online exchange rate services.
Economic History Services
is a fileserver that provides resources and promotes communication among
scholars in economic history and related fields.
maintained by Crest Capital discusses various measures of inflation and enables you to calculate the average rate of inflation over past periods in U.S. history from 1913 through 1998 using the consumer price index (CPI).
E. Financial Markets and Institutions
- Campbell R. Harvey (Fuqua School of Business, Duke University)
Hypertextual Finance Glossary
that includes over 6,000 entries in alphabetical order, with over 16,000
- Research publications from the Federal Reserve Bank of New York (FRB-NY) are available at the
FRB-NY Research Site.
Federal Reserve Board
maintains a website that explains its structure and operations and also
provides recent press releases, testimony, and speeches by Federal Reserve
- The most important Federal regulations imposed on depository
institutions in the United States are listed and explained in a
website maintained by the Federal Reserve Bank of New York.
- The Federal Reserve Bank of New York (FRB-NY) maintains a
that provides an extensive list of pointers to FRB-NY publications on the operations of the Federal Reserve System, which is the central bank of the United States. Examples of topics covered include: Buying and selling of Treasury securities; reserves; currency processing and destruction; and open market operations.
- The Federal Reserve Bank of San Francisco maintains a website
U.S. Monetary Policy: An Introduction.
This site describes U.S. monetary policy as it is currently conducted
by the Federal Reserve System (Fed) by addressing a series of issues,
including the structure of the Fed, the Fed's goals, the tool's used by the
Fed to implement its monetary policies, and how these monetary policies
affect the U.S. economy.
- The Federal Reserve Bank of Minneapolis maintains a website
that provides a list of links related to Fed monetary policy.
- The U.S. Treasury maintains a website titled
that provides pointers to materials explaining the basics of Treasury securities (bills, notes, and bonds), purchase methods, auction rates, and information about government securities market regulations.
Website on the History of Money
is maintained by Glyn Davies and Roy Davies (University of Exeter, UK).
See, also, the website maintained by Roy Davies titled
Money: Past, Present, and Future
which provides sources of information on monetary history, contemporary
developments, and the prospects for electronic money.
- Martin Shubik (Economics, Yale University) maintains a website titled
The Museum of Money and Financial Institutions.
The objective of the site is to provide an informative, interesting, and entertaining virtual science museum to promote the understanding of money and financial institutions through interactive exhibits.
- The American Association for Artificial Intelligence (AAAI) maintains a website on
Applications of Artificial Intelligence
in Banking, Insurance, Finance, and Investing.
- The Bank for International Settlements maintains a website on
central banks around the world.
- The Federal Reserve Bank of St. Louis maintains a website
Federal Reserve Economic Data (FRED)
that provides pointers to a variety of data bases (e.g., exchange rate data, commercial banking data, monetary data, etc.) as well as to its own publications and statistical releases.
- The Federal Financial Institutions Examination Council (FFIEC) provides a
central data repository for FDIC-insured institutions.
- James Garven (Business Administration, Louisiana State University)
maintains a guide to online financial economics resources at a website
Included among these resources are journals, working papers, databases, other
other finance-related websites.
F. Miscellaneous Other Sites
- Ray Fair (Yale University) maintains a website on the
(Fair) US Econometric Model.
is a website maintained at Washington University, St. Louis, that
provides an extensive annotated listing of pointers to macro-related
History of Economics Society Homepage
provides onine access to resources for teaching, scholarship, and
research in the history of economics and the history of economic thought. See also the
History of Economic Thought
website maintained by Gonçalo Fonseca and Leanne Ussher (Economics
Department, New School University, New York, NY).
3. Websites Focusing on International Economic Data and Events
- Resources for Economists on the Internet (sponsored by the
American Economic Association) maintains an annotated list of
World and Non-U.S. Data
maintains extensive resources on issues related to world growth and
development. See, for example, the World Bank sites devoted to
Macroeconomics and Growth
Beyond Economic Growth: Meeting the
Challenges of Global Development.
Accompanying the latter site is a useful
Glossary of Basic Terms
related to world economic growth and development.
International Monetary Fund (IMF)
is an international organization among countries based on voluntary
membership. As of 2001, 183 countries were members of the IMF. The stated
goals of the IMF are: to promote monetary cooperation, exchange stability,
and orderly exchange arrangements; to foster economic growth and high levels
of employment; and to provide temporary financial assistance to countries to
help ease balance of payments adjustments. The IMF maintains on-line
resources regarding its own organization and function, the current economic
situation of its member countries, and current world events.
United Nations Statistics Division
The Organization for Economic Cooperation and Development (OECD)
is an organization that coordinates policy among developed countries.
CIA World Factbook
provides information on the history, people, government, economy, geography, communications, transportation, military, and transnational issues for approximately 267 world entities.
(founded and managed by personnel associated with the United States Military Academy) provides continually updated political and economic coverage for each of the 191 countries of the world.
European Union in the US
is an official site sponsored by the European Union that provides
information specifically directed towards Americans regarding
the history, organization, and activities of the European Union.
- The European Central Bank maintains a general resource site on the introduction of the euro titled
- Nicholas Roubini (New York University) maintains a resource site
European Monetary Union and the Euro
that provides notes, discussion questions, and readings related to the
recent introduction of the euro among the member countries of the
European Monetary Union.
is a non-profit venture for development and provision of free software that visualizes human development. The site is maintained in collaboration with universities, UN organizations, public agencies, and non-governmental organizations
by site-founders Ola Rosling, Anna Rosling Rönnlund, and Hans Rosling (Stockholm) in February 2005.
4. Websites Providing Macro and Financial Economics Information for
Specific Regions and Countries Other than the U.S.
The Asian Development Bank
Australian Bureau of Statistics (ABS)
Central Bank of Brazil
Statistics (CIA-World Fact Book)
Brazilian Institute of Geography and Statistics
Statistics Canada (CANSIM)
- China (PRC):
People's Bank of China
National Bureau of Statistics of China
Central Bureau of Statistics (Croatian Government Site)
Ministry of Economy (Croatian Government Site)
maintained by researchers at the European University Institute,
provides links to a wide variety of source
materials related to the European Monetary Union (EMU).
The European Commission
Hungarian Central Statistical Office
India One Stop
Ministry of Finance (India)
Ireland News Site (Economist Magazine)
National Institute of Statistics (Italy)
Economic Planning Agency of Japan
Statistics Bureau and Statistics Center (Japan)
Ministry of Health, Labour, and Welfare (Japan)
Statistics (Malaysian Industrial Development Authority)
Banco de México
The Bank of Mongolia
Ministry of Finance and Economic Development
Statistics (Country Watch)
Statistics (CIA-World Fact Book)
Polish Official Statistics
The Polish Agency for Foreign Investment (PAIZ)
National Bank of Poland
Federal State Statistics Service
Central Bank of Russia
RosBusinessConsulting Analytic Service (in Russian)
provides a collection
of analytic publications by in-house and outside experts on
- Saudi Arabia:
Saudi Arabia Economic Statistics (CIA-World Fact Book)
- South Korea:
Korea Institute of Finance
Bank of Korea
Korea Development Institute
National Institute of Economic Research
Statistiska Central Bryarn (Statistics Sweden Homepage)
Turkish Statistical Institute
Prime Ministry State Planning Organization (in
Turkish Treasury (in Turkish)
Turkish Republic Central Bank (in Turkish)
The Turkish Constitution (in Turkish)
5. Websites Providing General Economic Resources
- The WWW virtual library of
Resources for Economists on the Internet (RFE),
maintained by Bill Goffe (University of Southern Mississippi),
provides over 700 annotated and catalogued listings of resource
materials for economists that are available on the internet.
provides a collection of useful links for economics students and
faculty separated into categories such as money and banking,
statistics and data analysis, etc.
Rutger University Resource Page
includes numerous links to economics resources.
- The extensive
Economics Working Papers Archive (Econ-WP)
maintained by Bob Parks (Washington University at St. Louis)
provides rapid dissemination of new research for both faculty
NetEc (Economists on the Internet)
contains a searchable base of information on economic papers
available for downloading from the internet through websites
maintained by economic researchers.
New Economics Papers (NEP)
is a family of mailing lists that disseminate new papers in
economics, including papers from the NBER, from all U.S. Federal
Reserve banks, and from many other departments and institutions.
Scout Report for Business and Economics
is a biweekly publication that offers a selective collection of
internet resources covering a variety of economics and business
Handbooks in Economics
website maintained by North-Holland/Elsevier Science provides
tables of contents for all voumes of the Handbooks in Economics
Series published to date as well as chapter summaries.
is an internet service for economists administered by Thorsten
Wichmann (Berlecon Research, Germany) that offers a search engine
for economics information, a listing of job openings for economists
from all over the world, and announcements of economic conferences.
It began operation in June 1998.
Journals Publishing Macro Related Articles
1. Contributed-Paper Economic Journals
- Macro-oriented articles are sprinkled throughout most of the general
mainstream economic journals such as the Journal of Political Economy
(JPE), the International Economic Review (IER), and the
American Economic Review (AER). More specialized articles can be
found in the Journal of Monetary Economics (JME), the Journal of
Public Economics (JPubE), the Journal of Public Economic Theory
(JPET), the Journal of Economic Growth (JEG), Macroeconomic
Dynamics (MD), the Journal of Labor Economics, the Journal of
Macroeconomics, the Journal of Economic Dynamics and Control
(JEDC), the Emerging Markets Review, the Review of Financial
Economics, and the Global Finance Journal.
2. Journal of Economic Literature
- Each issue of the Journal of Economic Literature (JEL)
begins with two or three invited survey articles on various economic topics.
Articles appearing in recent journal issues are listed, sorted once by
journal source and again by subject matter. Abstracts are provided for a
selected subset of these articles. There is also a listing of recently
published books relevant for economists, some of which are reviewed or
3. Journal of Economic Perspectives
- Each issue of the Journal of Economic Perspectives (JEP)
contains an assortment of invited articles discussing current topics of
interest. The articles tend to be well-written, lively, and informative
expository introductions, with a minimum of technical detail, but with a
useful list of references for further study. JEP can be obtained very
cheaply (along with the AER and JEL) by becoming a member of the American
4. On-Line Listings
- An on-line
list of links to economic journals
is available. See, also, the
JSTOR journal search site
for online access to journal articles, reviews, and opinion pieces.
1. U.S. Data
- The Economic Report of the President (ERP), put out each
- Economic Indicators (a monthly supplement to ERP);
- Business Conditions Digest (monthly);
- Survey of Current Business (monthly, Bureau of Economic Analysis);
- Reports of the Bureau of Labor Statistics (branch of the Labor
- Federal Reserve Bulletin (put out by Federal Reserve
2. International Data
- Holdings by CARD at ISU;
- United Nations publications (wide variety);
- World Bank reports;
- International Monetary Fund (IMF) reports.
Copyright © 2013 Leigh Tesfatsion. All Rights Reserved.