ECON7344s2005

Economics 7344
Macroeconomic Theory II
Spring 2005

TA is Mehmet Ekinci.

TA Session will be Friday 11.30-1pm in Rm 212. Starting January 28.

Midterm 1 date: February 23

UPDATED Midterm 2 date April 13.

FINAL date---Wednesday May 4^th
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Lecture Notes by John Driscoll of the Federal Reserve Board (http://www.johncdriscoll.net)

(I recommend that you read Chapter 2 as a supplement to Romer’s Chapter 5).

Please send any comments (typos, errors, …that you may find) to John.C.Driscoll@frb.gov

Notes: Notes:
(Some notes are recently written or re-written and may contain some errors or typos. Please let me know if you spot any.)
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 Interest Rates on Consumption
The Impact of Income "Shocks" on Consumption and ``Excess Smoothness' of Consumption"

Ostergaard, Sorensen, Yosha, JPE 2002

The Consumption CAPM

Asdrubali, Sorensen, Yosha, QJE 1996

Last year’s first midterm exam

Midterm 2, 2004

Midterm 2, 2003 (Question 1 has 9 sub-questions, you should be able to do the first 4, even if we didn’t derive the interest rate formula yet).

Last year’s final exam

Reading Guide to Midterm 1