ECON4325 - Spring 2010 (Monetary Policy and Business Fluctuations)
Tentative lecture plan ? Changes may occur
Lectures: Thursdays, 10.15 ? 12.00, Aud 3, Eilerts Sundts hus
Exam 31st May, 14.30
21/1?????????? Introduction
and empirical evidence (Sveen)
????????????????? Readings:
Gal?, ch. 1, Christiano, Eichenbaum and Evans (2005)
28/1?????????? A
simple RBC model, log-linearization (Sveen)
????????????????? Readings:? Gal?, ch. 2
4/2???????????? The
basic new Keynesian model (Sveen)
????????????????? Readings:
Gal?, ch. 3
11/2?????????? The
basic new Keynesian model (Sveen)
18/2?????????? Interest
rate rules (Sveen)
Readings: Gal?, ch. 4
25/2?????????? No
lecture
4/3???????????? The
credit channel of monetary policy (Alstadheim)
Readings: Walsh, ch. 7, Bernanke,
Gertler, and Gilchrist (1999).
11/3?????????? Monetary
policy and financial crises (Alstadheim)
Readings: Borio and Disyatat (2009)
18/3?????????? Time-inconsistency
(R?island)
Readings: Lecture notes
25/3?????????? Optimal
policy in the New Keynesian model (R?island)
Readings: Gal?, ch. 5.
1/4???????????? No
lecture
8/4???????????? Monetary
policy in Norway (R?island)
Readings:? Holmsen, Qvistad, R?island and
Solberg-Johansen (2008),
?????????????????? Faust
and Henderson (2004), Woodford (2005)
15/4?????????? Sticky
wages in the new Keynesian model (Holden)
Readings:
Gali, ch. 6.
22/4?????????? Welfare
costs of business fluctuations ?(Holden)
Readings:
Gali, Gertler, L?pez-Salido; Gali
29/4?????????? New
Keynesian models; Interaction of wage setting and monetary policy. The
financial crisis
(Holden)
Readings: Woodford (2009); Holden; Diamond;
Bean, Brunnermeier
Tommy.Sveen@Norges-Bank.no,
Ragna.Alstadheim@norges-bank.no,
Oistein.Roisland@norges-bank.no,
Steinar.Holden@econ.uio.no