Professor Bent Sorensen
Macro II
Spring 2020
TA: Ko Sugiura (ko.sugiura.0720@gmail.com). Ko's hours are Monday 11.30~13.00 in room 203A.
NOTE: No Macro II class on Wednesday March 18th, replaced by class on Tuesday March 3rd in the 10-11.30 slot
TA Sessions Friday 9am-10.30am.
Online office hours Tuesday 11am.I plan to have no midterm.
FINAL (for the second part): Wednesday April 29th in the usual class slot.
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
The CAPM Model
Efficient Markets
The Consumption CAPM
The Term Structure of Interest Rates
Notes on Obstfeld-Rogoff Chapter 5
Ostergaard, Sorensen, and Yosha, JPE 2002
Astrubali, Sorensen, and Yosha, QJE 1996
Note on Market Spanning
Homework
Assignment Due
Homework 1 Wed 3/19
Homework 2 Wed 4/1
Homework 3 Thu 4/9
Homework 4 Thu 4/16
Homework 5 Thu 4/23