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Economics 398 Winter 2013 Schedule MWF 1:25 am – 2:20 pm Huntley 220 |
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Week I Introduction |
Mon 6 Jan |
Why Economic Controversies? Disconnects in Modern Macro Theory |
First read Krugman “Why…?“ then read Cochrane reaction |
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Wed 8 Jan |
Why Economic Controversies? Macroeconometrics Macroeconometrics Primer |
Coppola blog: How to confuse… |
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Fri 10 Jan |
Today’s US Economy |
Analysis of 8:30 am Release CES and CPS on BLS |
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Week II Growth |
Mon 13 Jan |
Growth Models |
Solow seminal 1956 theory paper |
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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 |
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Thur 16 Jan |
Robert Kaplan The Revenge of Geography |
7 pm Lee Chapel |
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Fri 17 Jan |
Solow continued |
Solow 1957 empirical paper homework |
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Week III OLG Issues |
Mon 20 Jan |
Founders Day – ODK US Growth |
Gordon Is … Growth Over? Dupont et al. 2011 OECD productivity growth |
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Wed 22 Jan |
Life Cycle models Ashraf et al for a simple application of Solow to Life Cycle issues |
mandatory office hours Lee paper [need campus login?] |
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Fri 24 Jan |
paper topic meetings |
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Week IV More OLG Issues |
Mon 27 Jan |
Solow Spreadsheet |
setting up an Excel simulation |
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Wed 29 Jan |
Social Security |
CBO overview, Ten Myths (Brown Hassett Smetters), Ten Myths (Orszag Stiglitz, pp 36f), and Wikipedia |
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Fri 31 Jan |
Debt & Deficits |
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Week V RE Models |
Mon 3 Feb |
in Detroit for conference |
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Wed 5 Feb |
Rational Expectations |
Friedman readings: AEA Presidential Address and Nobel Prize Address |
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Fri 7 Feb |
Monetary Neutrality |
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Week VI Multiplier |
Mon 10 Feb |
The ARRA and Fiscal Multipliers: |
short notes by Brad deLong and Robert Barro 2011 ex post analysis of Aizenman-Pasricha and 2013 CBO |
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Wed 12 Feb |
Formal Tests: Wars |
Gordon and Krenn on WWII |
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Fri 14 Feb |
Formal Tests: OECD Comparisons |
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Midterm Break Saturday 15 Feb – Sunday 23 Feb |
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Week VII |
Mon 24 Feb |
mandatory office hours |
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Wed 26 Feb |
topic presentations |
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Fri 28 Feb |
VARs and Multipliers |
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Week VIII
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Mon 3 Mar |
Great Moderation I |
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Wed 5 Mar |
Great Moderation II |
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Fri 7 Mar |
Formal Models again: DSGE I |
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Week IX |
Mon 10 Mar |
DSGE II |
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Wed 12 Mar |
DSGE III |
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Fri 14 Mar |
Monetary Policy: Prof Taylor Rules? |
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Week X
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Mon 17 Mar |
Will China Eat Our Lunch or Take Us to Dinner? |
Fehr et al. – a modern macro analysis |
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Wed 19 Mar |
Macro History I |
Fair macro models & Villaverde review of Fair |
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Fri 21 Mar |
1. Data presentations 2. Discussion of Blogs |
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Week XI Wednesday Class Term Paper Due |
Mon 24 Mar |
Globalization Essay |
written in class |
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Wed 26 Mar |
Hysteresis |
FT US Labour Market Slack series |
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Fri 28 Mar |
de Vroey Microfoundations, de Vroey & Malgrange Macro History |
Reflections on the New Macro |
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Week XII
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Mon 31 Mar |
Term Paper Presentations |
Lee, James, Devin, Michael, Sophia |
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Wed 2 Apr |
Term Paper Presentations |
Paul, Juan, Mihh, Alex, John |
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Fri 4 Apr |
Course Summary: IMF Blanchard et al. |
Christy, G 2010: Rethinking Macro Policy |
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| Final Exam | |||