The NBER Macroeconomics Annual features theoretical and empirical contributions to the study of macroeconomics, addressing central issues within the discipline. These issues range from short-run macroeconomic fluctuations to international economic crises and long-run economic growth. Continuing in this tradition, NBER Macroeconomics Annual 2010 contains six papers that each tackle an important area in macroeconomics and serve to advance discourse within the field. This volume offers papers that reflect upon a variety of topics, including the recent financial crisis and the response of economists, the causes of economic growth in Europe in the decades following World War II, the sources of product-level price rigidities, and the complex relationship between the US economy and rising oil prices.