Thomas Cooley and Vincenzo Quadrini on The twenty-fifth anniversary of “Frontiers of Business Cycle Research"September 28, 2020
Preface by Tom Cooley
It is very gratifying to have a conference celebrating the 25th Anniversary of the publication of Frontiers of Business Cycle Research (Cooley (1995)). I am deeply grateful to all who have contributed papers to the conference and to this special Volume of The Review of Economic Dynamics. It is especially significant to me since, in addition to putting together Frontiers, I was the founding editor of RED. It is clear from the diverse set of papers presented here that the Frontier of Business Cycle Research has moved considerably in the past 25 years. The set of interesting questions that we tackle with these tools has expanded vastly. The economic agents studied have evolved from representative agents to households and firms with considerable heterogeneity. The solution methods used to solve the associated dynamic programs have changed dramatically and are faster and more accurate. The use of calibration methods to impose discipline on the mapping of models to data, once controversial, is now routine.
Thomas Cooley is the Paganelli-Bull Professor Emeritus of Business and International Trade at NYU Stern.
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