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Fall 2015 Schedule

MWF 9:05 am – 10:00 am Huntley 321

Fall 2015 Schedule
Week I Fri 11-Sep Introduction: Macroeconomic Controversies How Do We “Know” in Macro?
Mon 14-Sep Goal #1: Capstone Capstone research resources
Wed 16-Sep Goal #2: Empirics time series issue overview
Fri 18-Sep Goal #3: Theory intro to “modern” macro
Week II Mon 21-Sep Goal #4: Data spreadsheet analysis of LF data
Wed 23-Sep Potential Capstone Topics present your initial brainstorming
Fri 25-Sep Playing with Macro Regressions your STATA results, my handout
Week III Mon 28-Sep Growth Models (I) Solow
Wed 30-Sep Growth Models (II) TFP
Fri 2-Oct Growth Models (III) TFP pessimism, TFP optimism
Week IV Mon 5-Oct Consumption: Lee brief paper UNDP Natl Transfer Accounts LCM and intertemporal decisions
Wed 7-Oct Investment and Finance more intertemporal decisions
Fri 9-Oct Sketch of GEQ Macro; Data Solow-plus; π
Week V Mon 12-Oct OLG modeling work vs retirement
Wed 14-Oct OLG applied OADSI
Fri 16-Oct No Class! Reading Day
Week VI Mon 19-Oct (Rational) Expectations Friedman 1968
Wed 21-Oct Endogenizing Policy Taylor rules
Fri 23-Oct RE Formalized policy irrelevance?!
Week VII

policy analysis: 3 approaches

Mon 26-Oct DSGE Overview Solow extended, Solow constrained
Wed 28-Oct VARs atheoretical macro
Fri 30-Oct VARs in practice: “the” (fiscal) multiplier Gordon & Krenn
Week VIII Mon 2-Nov (Fiscal) Multipliers: Ramey & Zubairy. 2014. “Government Spending Multipliers in Good Times and in Bad.” Working Paper 20719. National Bureau of Economic Research. NBER Working Paper
Wed 4-Nov Multipliers in models: Woodford. 2010. “Simple Analytics of the Government Expenditure Multiplier.” NBER Working Paper 15714. NBER Paper
Fri 6-Nov (Fiscal) Multipliers the Outside the US: Corsetti, Meier, and Müller. 2012. “What Determines Government Spending Multipliers?” WP/12/150. International Monetary Fund. Paper of VARs
Week IX Mon 9-Nov Capstone Presentations your progress to date
Wed 11-Nov Capstones (cont) continued
Fri 13-Nov Fiscal Multipliers: Summary. Ramey, Valerie A. 2011. “Can Government Purchases Stimulate the Economy?” Journal of Economic Literature 49 (3): 673–85. Link via AmerEconAssoc
Week X Mon 16-Nov Debt and Deficits (I) Clements et al. The Fiscal Consequences of Shrinking Populations, Staff Discussion Note 1521.
Wed 18-Nov US and Japan how far from sustainable?
Fri 20-Nov China dividends: demographics and Solow
Week XI Mon 30-Nov Freshwater vs Saltwater Krugman, Paul (2009). ‘How Did Economists Get It So Wrong?’ New York Times Magazine, 2 September, 36f.
Wed 2-Dec Microfoundations De Vroey, Michel, What Can Civil Society Expect from Academic Macroeconomics? (2013)
Intellectual History
Fri 4-Dec What Happened to Monetarism? Laidler, David (2013). Three Revolutions in Macroeconomics: Their Nature and Influence.
Week XII Mon 7-Dec Methodology of Knowledge Kuhn, Objectivity, Value Judgement and Theory Choice
Wed 9-Dec Retrospective Blanchard, Cerutti, and Summers (2015). Inflation and Activity: Two Explorations and Their Monetary Policy Implications.
Fri 11-Dec Discussion: What Should US Macro Policy Look Like? Fiscal Policy, Monetary Policy, Transfers, Investment
Final Exams