2014 Schedule

Economics 398 Winter 2013 Schedule

MWF 1:25 am – 2:20 pm

Huntley 220

Week I

Introduction

Mon 6 Jan

Why Economic Controversies?

Disconnects in Modern Macro Theory

First read Krugman “Why…?

then read Cochrane reaction

Wed 8 Jan

Why Economic Controversies?

Macroeconometrics

Macroeconometrics Primer

Coppola blog: How to confuse…

Fri 10 Jan

Today’s US Economy

Analysis of 8:30 am Release

CES and CPS on BLS

Week II

Growth

Mon 13 Jan

Growth Models

Solow seminal 1956 theory paper

Wed 15 Jan

Preparation for Kaplan Talk: Economic Geography

1. Bernhofen etal2013 Effects Containerization

2. Krugman 1991 Increasing Returns & Geog and

3. — 2011 New Econ Geog, Now Middle-age

Thur 16 Jan

Robert Kaplan

The Revenge of Geography

7 pm Lee Chapel

Fri 17 Jan

Solow continued

Solow 1957 empirical paper

homework

Week III

OLG Issues

Mon 20 Jan

Founders Day – ODK

US Growth

Gordon Is … Growth Over?

Dupont et al. 2011 OECD productivity growth

Wed 22 Jan

Life Cycle models

Ashraf et al for a simple application of Solow to Life Cycle issues

mandatory office hours

Mason ppt and World Bank talk

Lee paper [need campus login?]

Fri 24 Jan

paper topic meetings

Week IV

More OLG Issues

Mon 27 Jan

Solow Spreadsheet

setting up an Excel simulation

Wed 29 Jan

Social Security

CBO overview, Ten Myths (Brown Hassett Smetters), Ten Myths (Orszag Stiglitz, pp 36f), and Wikipedia

Fri 31 Jan

Debt & Deficits

CBO US fiscal projections

Week V

RE Models

Mon 3 Feb

in Detroit for conference

Wed 5 Feb

Rational Expectations

Friedman readings: AEA Presidential Address and Nobel Prize Address

Fri 7 Feb

Monetary Neutrality

Smitka Rational Expectations Model

Week VI

Multiplier

Mon 10 Feb

The ARRA and Fiscal Multipliers:

2009 Cogan et al (pdf) vs CEA 2009 (pdf)

short notes by Brad deLong and Robert Barro

2011 ex post analysis of Aizenman-Pasricha and 2013 CBO

Wed 12 Feb

Formal Tests: Wars

Gordon and Krenn on WWII

Fri 14 Feb

Formal Tests: OECD Comparisons

Corsetti 2012 and IMF WEO 2010

Midterm Break Saturday 15 Feb – Sunday 23 Feb

Week VII

Mon 24 Feb

mandatory office hours

Wed 26 Feb

topic presentations

Fri 28 Feb

VARs and Multipliers

Week VIII

Mon 3 Mar

Great Moderation I

Wed 5 Mar

Great Moderation II

Fri 7 Mar

Formal Models again: DSGE I

Week IX

Mon 10 Mar

DSGE II

Wed 12 Mar

DSGE III

Fri 14 Mar

Monetary Policy: Prof Taylor Rules?

Week X

Mon 17 Mar

Will China Eat Our Lunch or Take Us to Dinner?

Fehr et al. – a modern macro analysis

Wed 19 Mar

Macro History I

Fair macro models & Villaverde review of Fair

Fri 21 Mar

1. Data presentations

2. Discussion of Blogs

testing models and remembering models

Week XI

Wednesday Class

Term Paper Due

Mon 24 Mar

Globalization Essay

written in class

Wed 26 Mar

Hysteresis

FT US Labour Market Slack series

Fri 28 Mar

de Vroey Microfoundations, de Vroey & Malgrange Macro History

Reflections on the New Macro

Week XII

Mon 31 Mar

Term Paper Presentations

Lee, James, Devin, Michael, Sophia

Wed 2 Apr

Term Paper Presentations

Paul, Juan, Mihh, Alex, John

Fri 4 Apr

Course Summary: IMF Blanchard et al.

Christy, G

2010: Rethinking Macro Policy

2013: Rethinking Macro Policy II

Final Exam