Wednesdays, March - June 2017 :: Room 408 :: 16:00 - 18:30
Jacek Suda, Narodowy Bank Polski
- Problem Set 3 :: Due by Wednesday, June 14, 23:59
- Problem Set 2 :: Example RBC Code:
dynamicProgramming_deterministicRBC.mDue by Monday, June 5, 12:10
- Problem Set 1 :: Due by Wednesday, May 10, 16:10
1 March 2017: Lecture 1: slides
8 March 2017: Lecture 2: slides
15 March 2017: Lecture 3: slides
19 April 2017: Lecture 4: notes
27 April 2017: Lecture 5: notes
17 May 2017: Lecture 6: notes
24 May 2017: Lecture 7: notes
31 May - 7 Jube 2017: Lectures 8 and 9: slides
7 June 2017: Lecture 10: slides
The main objective of the course is to introduce fundamental techniques for constructing and solving dynamic-stochastic general equilibrium (DSGE) models.
The course begins with the basic RBC (Real Business cycle) model---the cornerstone for most modern macroeconomic business cycle models. The model (and its extension) will be used to illustrate the concept of equilibrium, market completeness, and solution techniques. It will also be used to show some properties of the business cycles as well as its implications for asset prices and macroeconomic policy.
The second part of the course introduces the overlapping generation (OLG) model - the second major workhorse of modern macroeconomics - and, if time permits, incomplete markets model in which agents face idiosyncratic and uninsurable labor income risk.