Seminar on monetary and fiscal stabilization policy

Course News

 

November 6, 2009: The slides for the introductury lecture are now available.

 

(Preliminary) Schedule:

Friday, October 30, 2009, 2.00 p.m. - 6.00 p.m., (Room: t.b.a): Preliminary meeting: Introduction and preparatory lecture (Presentation of the standard New-Keynesian model)

Thursday, January 7, 2010, 9.00 a.m. - 6.00 p.m., (Room: t.b.a.):

Seminar

Friday, January 8, 2010, 12.00 a.m. - 6.00 p.m., (Room: t.b.a.):

Seminar

Friday, January 15, 2009: Deadline for handing in seminar thesis 

Location

Johannes Gutenberg University of Mainz, Department of Law and Economics
(Room: To be announced (t.b.a).)

Contact

More information will be available soon...

Registration:

Please come to our preliminary meeting or send an e-mail to to register for the seminar.

Downloads/Topics

Course syllabus (July, 2009)

 

Introduction

The New Keynesian Model

Topics

1. The costs of business cycles and the benefits of stabilization policies
    • Lucas (2003)
    • Barlevy (2005)
    • Yellen and Akerlof (2006)
2. The effects of monetary and fiscal policy shocks: Evidence
(a) Monetary policy shocks
    • Christiano et al. (1999)
    • Romer and Romer (2004)
(b) Fiscal policy shocks
    • Blanchard and Perotti (2002)
    • Fatás and Mihov (2001)
    • Edelberg et al. (1999)
3. The effects of monetary and fiscal policy in a standard RBC model
    • Walsh (2003, chapter 2)
    • (Galí, 2008, chapter 2)
    • Baxter and King (1993)
4. The effects of monetary and fiscal policy in a standard New-Keynesian
    model
    • Walsh (2003, chapter 5)
    • Galí (2008, chapter 3)
5. Policy rules and macroeconomics stability
    • Clarida et al. (2000)
    • Andrés and Doménech (2006)
6. Monetary and fiscal policy interaction
    • Schmitt-Grohe and Uribe (2004)
    • Muscatelli et al. (2004)
7. Effects of government debt on the economy
    • Elmendorf and Mankiw (1998)
8. Monetary policy in deflation
    • Orphanides (2004)
    • Eggertsson and Woodford (2003)
    • Svensson (2006)
9. Monetary and fiscal policy in a monetary union
    • Galí and Monacelli (2005)
    • Benigno (2004)
10. Monetary and fiscal policy in EMU
    • Canzoneri et al. (2005)
    • Beetsma and Uhlig (1999)
    • Uhlig (2002)
11. Open economy issues
    • Clarida et al. (2001)
    • Darracq-Pariès (2003)
    • Ball (1998)
12. The role of monetary and fiscal policy in the current economic crisis
    • Davig and Leeper (2009)
    • Christiano et al. (2009)
    • Cochrane (2009)
    • Eggertsson (2009)
    • Goodfriend (2009)
    • Hall and Sargent (2009)
    • Sims (2009)
    • Uhlig (2009)