Professor Bent Sorensen
Macro II
Spring 2022
I do not have set hours, but you can email or approach me any time (except before classes Mon-Wed)
TA: Angelo Dos Santos, Email: angelofgdsantos@gmail.com
TA Sessions: Friday 9am-10.30amNOTE: The class on Wednesday 4/20 will be online as I am out of town.
I plan to have no midterm (by popular demand).
FINAL (for the second part): Wednesday May 4 in the usual class slot. No class on May 2, instead review session on May 3, 1-3 in usual class room.)
Notes (I may not get to all of them):
Short Introduction to Time Series
Permanent Income and Measurement Error in Consumption Functions
The general Euler Equation and Hall's version of the PIH
Excess Sensitivity, Rule-of-Thumb Consumers and IV estimation
The Impact of Income Shocks on Consumption and `Excess Smoothness' of Consumption (updated April 2019)
The Impact of Interest Rates on Consumption (2022 update)
The CAPM Model
Efficient Markets
The Consumption CAPM
The Equity Premium Puzzle
The Term Structure of Interest Rates
Notes on Obstfeld-Rogoff Chapter 5
Note on Market Spanning (updated to be more rigorous 2022)
Ostergaard, Sorensen, and Yosha, JPE 2002
Astrubali, Sorensen, and Yosha, QJE 1996
Homework
Assignment Due
Homework 1 Wed 3/30
Homework 2 Fri 4/8
Homework 3 Fri 4/15
Homework 4 Fri 4/22
Homework 5 Fri 4/29