Econ 809: Topics in Macroeconomic Theory


Part 1. Search Models of the Labor Market

  1. Search Models of Unemployment, David Andolfatto (2006). Forthcoming in the New Palgrave Dictionary of Economics, 2nd Edition.
  2. Theory Ahead of Language in the Theory of Unemployment, Richard Rogerson (1997). Journal of Economic Perspectives, 11(1): 73-92.
  3. Reassessing the Ins and Outs of Unemployment, Robert Shimer (2005).
  4. The Cyclical Behavior of Equilibrium Unemployment and Vacancies, Robert Shimer (2005). American Economic Review, 95(1): 25-49.
  5. Employment Efficiency and Sticky Wages: Evidence From Flows in the Labor Market, Robert E. Hall (2005). Review of Economics and Statistics, LXXXVII(3): 397-407.
  6. Discussion of Robert Hall's REStat Paper, Robert Shimer (2005). Review of Economics and Statistics, LXXXVII(3): 408-410.
  7. The Cyclical Behavior of Equilibrium Unemployment and Vacancies Revisited, Marcus Hagedorn and Iourii Manovskii (2005).
  8. Unemployment and Vacancy Fluctuations in the Matching Model: Inspecting the Mechanism, Andreas Hornstein, Per Krusell, and Giovanni L. Violante (2005). Federal Reserve Bank of Richmond Economic Quarterly, 91(3): 19-51.
  9. GAUSS code that solves and simulates a basic search model.
  10. The Labor Market and Macro Volatility: A Nonstationary General Equilibrium Analysis, Robert E. Hall (2005).
  11. The Cyclical Upgrading of Labor and On-the-Job Search, Michael Krause and Thomas Lubik (2005).
  12. Search-Theoretic Models of the Labor-Market: A Survey, Randall Wright, Richard Rogerson and Robert Shimer (2005). Forthcoming in the Journal of Economic Literature.
  13. Data (from Robert Shimer's webpage).
  14. Math Lecture Notes (by John Stackurski).

Part 2 . Shocks and News

  1. Some Basic Tools. Lecture Notes, Brian Krauth.
  2. Econometrics. Lecture Notes, Brian Krauth.
  3. Shocks, John Cochrane (1994). Carnegie-Rochester Series on Public Policy, 41: 295-364.
  4. Stock Prices, News, and Economic Fluctuations, Paul Beaudry and Franck Portier (2003).
  5. The "News" View of Economic Fluctuations: Evidence from Aggregate Japanese Data and Sectoral U.S. Data, Paul Beaudry and Franck Portier (2005).
  6. Real Business Cycle Models: Past, Present, and Future, Sergio Rebelo (2005).
  7. Can News About the Future Drive the Business Cycle? Nir Jaimovich and Sergio Rebelo (2005).
  8. Read All About It! What Happens Following a Technology Shock? Michelle Alexopoulos (2004).

Part 3 . Monetary Theory

  1. Modeling Monetary Economies, Bruce Champ and Scott Freeman.
  2. Overlapping Generations Models, Lars Ljungqvist and Thomas Sargent, Chapter 8 in Recursive Macroeconomic Theory.
  3. The Microfoundations of Monetary Economics, Shouyong Shi (2006).
  4. Money and Credit in Quasi-linear Environments. David Andolfatto (2006).
  5. The Economics of Payments, Ed Nosal and Guillaume Rocheteau (2005).
  6. On the Indeterminacy of Equilibrium Exchange Rates, John Kareken and Neil Wallace (1981). Quarterly Journal of Economics, 207-222.
  7. Nonfundamental Uncertainty and Exchange Rates, Robert King, Warren Weber and Neil Wallace (1992). Journal of International Economics, 32: 83-108.
  8. Exchange Rate Volatility in an Equilibrium Asset Pricing Model, Rodolfo Manuelli and James Peck (1990). International Economic Review, 31(3): 559-574.
  9. Notes on Manuelli and Peck, David Andolfatto (2006).
  10. On the Coexistence of Money and Bonds, David Andolfatto (2005).
  11. Dynamic Taxation, Private Information, and Money, Chris Waller (2006)

Part 4 . Diamond and Dybvig Models of Banking

  1. Bank Runs, Deposit Insurance and Liquidity, Doug Diamond and Philip Dybvig (1983). Journal of Political Economy, 91(3): 401-419.
  2. Mechanism Design: Some Basic Concepts. Lecture Notes, Licun Xue.
  3. Classic Mechanism Design, Lecture Notes. David Parkes.
  4. Hidden Information Agency. Bernard Caillaud and Benjamin Hermalin (2000).
  5. Diamond and Dybvig's Classic Theory of Financial Intermediation: What's Missing? Ed Green and Ping Lin (2000).
  6. Bank Runs Under Optimal Banking Structures, David Andolfatto, Ed Nosal, and Neil Wallace (2005).
  7. Optimal Banking Deposit Contracts: Do-it-Yourself Bank Run Prevention for Banks, Ed Nosal (2006). Federal Reserve Bank of Cleveland Economic Commentary.