Teaching‎ > ‎

Advanced Macroeconomics

The course aims to introduce the students to dynamic macroeconomics. We will review some topics in economic series analysis and cover topics like Markov process, Hodrick-Prescott filter, etc. Then we will study the macroeconomic models that became the workhorses of modern macro, with the focus on the neoclassical growth model. We will cover basic theoretical concepts of economic dynamics such as dynamic programming, value function, Bellman equation, Euler equation, recursive equilibrium, etc. Numerical solution methods, calibration and simulation of the models will also be covered. (Syllabus).

Slides from Lecture 1

Papers:


Kiyotaki, Nobuhiro & Moore, John (1997), "Credit Cycles", Journal of
Political Economy 105 (2): 211–248

Iacoviello, Matteo (2005), "House Prices, Borrowing Constraints, and
Monetary Policy in the Business Cycle", American Economic Review
Mark Iarovyi and Anna Kozlova

V. V. Chari & Patrick J. Kehoe & Ellen R. McGrattan, 2007.
"Business Cycle Accounting," Econometrica, Econometric Society, vol.
75(3), pages 781-836, 05.

Diego Restuccia & Richard Rogerson, 2008.
"Policy Distortions and Aggregate Productivity with Heterogeneous
Plants," Review of Economic Dynamics, Elsevier for the Society for
Economic Dynamics, vol. 11(4), pages 707-720, October
.
- Artur Kovalchuk and Kostyantyn Kravchuk

L. Rachel Ngai & Christopher A. Pissarides, 2008.
"Trends in Hours and Economic Growth," Review of Economic Dynamics,
Elsevier for the Society for Economic Dynamics, vol. 11(2), pages
239-256, April
. - Polina Kulak and Andrii Luzan

Andres Erosa & Tatyana Koreshkova & Diego Restuccia, 2010. "How
Important Is Human Capital? A Quantitative Theory Assessment of World
Income Inequality," Review of Economic Studies
Olena Bogdan and Solomiya Shpak

John Geanakoplos & Michael Magill & Martine Quinzii, 2004. "Demography
and the Long-Run Predictability of the Stock Market," Brookings Papers
on Economic Activity

Jeremy Greenwood & Nezih Guner, 2009. "Marriage and Divorce since
World War II: Analyzing the Role of Technological Progress on the
Formation of Households," NBER Chapters, in: NBER Macroeconomics
Annual 2008, Volume 23
 - Kravchenko Ulyana and Strelchuk Anna 

Oded Galor & David N. Weil, 2000. "Population, Technology, and Growth:
From Malthusian Stagnation to the Demographic Transition and Beyond,"
American Economic Review
 
Sergii Kiiashko and Sergii Meleshchuk

Diego Restuccia & Carlos Urrutia, 2004. "Intergenerational Persistence
of Earnings: The Role of Early and College Education," American
Economic Review
Alisa Firsova and Oleksandra Slobodian

Raquel Fernández, 2009. "Women's Rights and Development," NBER Working PapersTetiana Kolomiiets and Valentyna Baloshenko

Abel, Andrew B, 1990. "Asset Prices under Habit Formation and Catching
Up with the Joneses," American Economic Review
 Ecaterina Loghinova and Dmytro Kovalchak

Nezih Guner & Gustavo Ventura & Xu Yi, 2008.
"Macroeconomic Implications of Size-Dependent Policies," Review of
Economic Dynamics, Elsevier for the Society for Economic Dynamics,
vol. 11(4), pages 721-744, October.

Lee E. Ohanian, 2010. "The Economic Crisis from a Neoclassical
Perspective," Journal of Economic Perspectives, American Economic
Association, vol. 24(4), pages 45-66, Fall.
  - Olena Snezhko + ?

Mikhail Golosov & Robert E. Lucas Jr., 2007. "Menu Costs and Phillips
Curves," Journal of Political Economy, University of Chicago Press,
vol. 115, pages 171-199
. -  Vlad Petrov  and Dmytro Popov

Harold L. Cole & Lee E. Ohanian, 2004. "New Deal Policies and the
Persistence of the Great Depression: A General Equilibrium Analysis,"
Journal of Political Economy, University of Chicago Press, vol.
112(4), pages 779-816, August.
Anzhela Mazhorova and Mykyta Bilyi