Each lecture is 3 hours long. There are 14 lectures for a total of 42 hours of lectures.
L1-L2: Assignment of student presentations and Dynamic Programming
L3-L4: Economic Growth and Technological Change with applications to Inequality and Climate Change. Student presentation (L4)
L5: Fiscal Policy. Student presentation.
L6: Monetary Policy. Student presentation.
L7-L10: Macro Labor. Student presentations (L8 and L10).
L11-L14: International Trade. Student presentations (L12 and L14).
Student Presentations
The student presentations can be either:
- Replication a paper from a list to be published before the course starts.
- Short applied research project related to the topics in class, subject to approval by the course coordinator, such that topics are evenly distributed and within the scope and depth of the course.
Students will have two hours of supervision available to them and faculty members serving as supervisors will be allocated the respective Prophix hours for individual supervision and feedback on the project.
Schedule
L1 - Friday Oct 2nd, 9-12, week 40
L2 - Wednesday Oct 7th, 9-12, week 41
L3 - Friday Oct 9th, 9-12, week 41
L4 - Monday Oct 19th, 9-12, week 43
L5 - Wednesday Oct 21st, 9-12, week 43
L6 - Friday Oct 23rd, 9-12, week 43
L7 - Monday Oct 26th, 9-12, week 44
L8 - Tuesday Oct 27th, 9-12, week 44
L9 - Wednesday Oct 28th, 9-12, week 44
L10 - Thursday Oct 29th, 9-12, week 44
L11 - Monday Nov 16th, 9-12, week 47
L12 - Tuesday Nov 17th, 9-12, week 47
L13 - Wednesday Nov 18th, 9-12, week 47
L14 - Thursday Nov 19th, 9-12, week 47
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There is no single textbook which covers all the topics in the course. The main textbooks with suggested readings are:
[L&S] Lars Ljungqvist and Thomas J. Sargent (2018) Recursive Macroeconomic Theory, MIT Press. ISBN 978-0-262-03866-9
[CCZ] Labor Economics, Cahuc, P., Carcillo S. and Zylberberg, Princeton University Press, 2015.
[DA] Daron Acemoglu (2009) Introduction to Modern Economic Growth, Princeton University Press. ISBN 978-0-691-13292-1
[B&F] Olivier Blanchard and Stanley Fischer (1989) Lectures on Macroeconomics, MIT Press.
[O&R] Maurice Obstfeld and Kenneth Rogoff (1996) Foundations of International Macroeconomics, MIT Press. ISBN 978-0-262-15047-7
Articles and lecture notes:
Allen, T. and Arkolakis, C. (2014). Trade and the topography of the spatialeconomy.The Quarterly Journal of Economics, 129(3):1085–1140.
Amiti, M., Dai, M., Feenstra, R. C., and Romalis, J. (2017). How did china’s WTO entry affect US prices? NBER Working Paper, (w23487).
Arkolakis, C., Costinot, A., and Rodriguez-Clare, A. (2012). New trade models, same old gains? American Economic Review, 102(1): 94–130
Autor, D. H., Dorn, D., and Hanson, G. H. (2016). The china shock: Learning from labor-market adjustment to large changes in trade. Annual Review of Economics, 8: 205–240.
Blanchard and Kahn, “The Solution to Linear Difference Models under Rational Expectations,” Econometrica, 1980.
Borusyak, K. and Jaravel, X. (2018). The distributional effects of trade: Theory and evidence from the united states. Available at SSRN 3269579.
Broda, C. and Weinstein, D. E. (2006). Globalization and the gains from variety. The Quarterly Journal of Economics, 121(2):541–585.
Burdett, K. and Mortensen, D. ‘Wage Differentials, Employer Size, and Unemployment’, International Economic Review, 1998 pp. 257-273.
Caliendo, L., Dvorkin, M., and Parro, F. (2019). Trade and labor market dynamics: General equilibrium analysis of the china trade shock.
Chaney, T. (2008). Distorted gravity: the intensive and extensive margins of international trade. The American Economic Review, 98(4):1707–1721.
Desmet, K., Nagy, D. K., and Rossi-Hansberg, E. (2016). The geography of development. Journal of Political Economy.
Eaton, J. and Kortum, S. (2002). Technology, geography, and trade. Econometrica, 70(5):1741–1779.
Elbsy, M. Hobijn, B. and ̧Sahin, A. ‘Unemployment Dynamics in the OECD’, The Review of Economics and Statistics, May 2013, 95(2), pp 530-548
Elsby, M., Michaels R. and Ratner, D. ‘The Beveridge Curve: A Survey’, Journal of Economic Literature, 2015, 53(3), pp 571-630.
Feenstra, R. C. (1994). New product varieties and the measurement of international prices. The American Economic Review, pages 157–177.
Haltiwanger, J. Hyatt, H. Kahn, L. and McEntarfer, E. ‘Cyclical Job Ladders by Firm Size and Wage’,American Economic Journal: Macroeconomics, April 2018.
Hassler, John Matfu II, notes.
Jolivet, G., Postel-Vinay, F. and Robin, J-M. ‘The Empirical Content of the Job Search Model: Labor Mobility and Wage Distributions in Europe and the US’, European Economic Review,275 (2006): 269-308.
King and Rebelo, “Resuscitating Real Business Cycles,” Handbook of Macro 1999.
Krugman, P. (1980). Scale economies, product differentiation, and the pattern of trade. The American Economic Review, 70(5):950–959.
Krugman, P. R. (1991).Geography and trade.
Mortensen, D. Why are Similar Workers Paid Differently, 2003. Introduction, ch.1-3.
Mortensen, Dale T. “Markets with search friction and the DMP model.” American Economic Review 101, no. 4 (2011): 1073-91.
Petrosky-Nadeau, N. and Wasmer, Labor, Credits and Goods Markets, The Macroeconomics of Search and Unemployment, 2017, chapters 1 and 2.
Rogerson, R., Shimer, R. and Wright, R., ‘Search-theoretic Models of the Labor Market:A Survey’, Journal of Economic Literature43(4), pp. 959-988, 2005.
Weibull, Jörgen, Math for Economists, notes.
The lecturers will refer to other relevant supplementary literature and articles during their lectures.
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