I have posted a syllabus.
On Tuesday, March 24, we will start with the presentation by the federal Reserve group. We will then discuss housing in the context of Iacoviello (2005).
On Thursday, March 26, we will discus non conventional monetary policy. I will looslye follow Kuttner (2018). A link and my notes are available below.
The course will be divided into five blocks. Materials will be posted below.
Topic 0: Math Background
A Short Primer on Linear Algebra and Partial Derivatives:
Topic 1: The New Keynesian Model
Gali Ch 2: Notes
Gali Ch 3: Notes
Gali Ch 4: Notes
Topic 2: Extensions to Monetary Policy
Interaction of Monetary and Fiscal Policy: Leeper, E. 1991. “Equilibria under ‘active’ and ‘passive’ monetary and fiscal policies,” Journal of Monetary Economics, Elsevier, vol. 27(1), pages 129-147, February. Notes
Financial Acceleration: Iacoviello, Matteo. 2005. “House Prices, Borrowing Constraints, and Monetary Policy in the Business Cycle.” American Economic Review 95 (3): 739–764. Notes
Kuttner, Kenneth N. “Outside the Box: Unconventional Monetary Policy in the Great Recession and Beyond.” The Journal of Economic Perspectives 32, no. 4 (2018): 121–46. https://www.jstor.org/stable/26513499. Notes
Paul Shea 