G 6612 Adv. Macro
Analysis II, Spring 2008
Prof. Stefania Albanesi,
Assignments
Assignment 1 Due 1/30 in
class. Solution
Assignment 2. Due 2/7 at
recitation. Solution
Assignment 3. Due 2/14 at
recitation. Solution
Assignment 4. Due 2/21 at
recitation. Solution
Assignment 5. Due 2/28 at
recitation. Solution
Assignment 6. Due 3/10 in
class. Sample Matlab code here.
Handouts
Three Notions of Private
Sector Equilibrium
Characterizing Dynamics in
the Canonical Growth Model
Introducing Variable Hours in
the Canonical Growth Model
Business Cycles and the Labor
Market
A Primer on Monetary Models REVISED VERSION!
Slides on
Sticky Prices and Limited Participation Models
Necessary and Sufficient Conditions for Household Optimization in Monetary Models
Solving Models with Limited
Information
Practice Midterm Questions
Readings
All readings in the syllabus, except for textbook chapters,
are available on line from authors’ homepages, from JSTOR or from Columbia
Library’s online journal archive, here.
Some of the readings are linked below. Note that a few of
the links can only be accessed from a Columbia (or other academic) ip address.
If you are at home, you may need to connect to your VPN.
Susanto
Basu, 1998. Technology and Business Cycles: How Well do Standard Models Explain
the Facts? Conference Series, Federal Reserve Bank of Boston, issue Jun,
pages 207-269.
Beaudry,
Paul, and Frank Portier. An
exploration into Pigou's theory of cycles, Journal of Monetary Economics,
volume 51, Issue 6 pp. 1183-1216, September 2004.
Boldrin,
Michele, Larry Christiano, Jonas Fisher. Habit
Persistence, Asset Returns and Business Cycles. AER 2001.
Burnside, Craig,
V. V. Chari, Lawrence J. Christiano
and Patrick J. Kehoe, "Optimality of the
Friedman rule in economies with distorting taxes," Journal of Monetary
Economics, Volume 37, Issues 2-3, April 1996, Pages 203-223
Christiano, Lawrence J., and Martin
Eichenbaum. Current
Real-Business Cycle Theories and Aggregate Labor-Market Fluctuations.
American Economic Review, Vol. 82, No. 3, 1992.
Christiano, Lawrence J. and Martin
Eichenbaum, "Liquidity
Effects and the Monetary Transmission Mechanism" (in Recent
Developments in Macroeconomics), The American Economic Review, Vol. 82, No. 2,
Papers and Proceedings of the Hundred and Fourth Annual Meeting of the American
Economic Association. (May, 1992), pp. 346-353.
Lawrence J. Christiano,
Christiano, Lawrence J., Martin
Eichenbaum, Charles Evans. 2005. Nominal
Rigidities and the Dynamic Effects of a Shock to Monetary Policy. Journal
of Political Economy 113: 1-45
Christiano,
Lawrence J., and Jonas Fisher, 1995. Tobin’s Q and Asset Returns:
Implications for Business Cycle Analysis. NBER WP 5292.
Larry
Christiano and Terry Fitzgerald. The
Business Cycle: It’s Still a Puzzle.
Christiano, Lawrence J.,
Sharon G. Harrison, Chaos, Sunspots,
Automatic Stabilizers, Journal of Monetary Economics 44 (1999) 3-31
Cooley,
Thomas F., and Edward C. Prescott, 1995, "Economic Growth
and Business Cycles", in Cooley and Prescott eds., Frontiers of
Business Cycle Research,
Jonas
Fisher, 1999. The New View of Growth and Business Cycles
Fisher, Jonas. 2006. The
Dynamic Effects of Neutral and Investment-Specific Technology Shocks.
Journal of Political Economy.
Hansen, Gary D. Indivisible
Labor and the Business Cycle. Journal of Monetary Economics 16, pp.
309-337, November 1985.
Hansen, Gary D., and Randy Wright,
1992, "The
Labor Market in Business Cycle Theory", Quarterly Review, Vol. 16, No.
2, Federal Reserve Bank of
Nir Jaimovich and Sergio Rebelo.
2006. Can
News About the Future Drive Business Cycles? Manuscript.
Robert
E. Lucas and Nancy Stokey, "Optimal
Fiscal and Monetary Policy in Economies without Capital," Journal of
Monetary Economics, 1983.
Prescott
and Summers on 'Real Business Cycles
Related Links
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