PhD/Master classes


Optimal policies in DSGE New Keynesian models
Sapienza Doctoral School in Economics (2016)

Class one: Policy tradeoffs
Class two: Optimal fiscal and monetary policy mix: A Ramsey approach

References
The science of monetary policy: A New Keynesian perspective (R. Clarida, J. Galí, and M. Gertler), Journal of Economic Literature, 1999
Monetary policy design in the basic New Keynesian model (J. Gali), Monetary policy, inflation, and the business cycle, Princeton University Press, Chapter 6, 2008
The comeback of inflation as an optimal public finance tool (G. Di Bartolomeo, N. Acocella and P. Tirelli), International Journal of Central Banking, 2015
US trend inflation reinterpreted: The role of fiscal policies and time-varying nominal rigidities (G.Di Bartolomeo N. Acocella, P. Tirelli), Macroeconomic Dynamics, 2015
The optimal rate of inflation (S. Schmitt-Grohe and M. Uribe), Handbook of monetary economics, edited by M. Woodford and B. Friedman, Elsevier, San Diego, 2011


From the Classical Monetary Model to the New Keynesian Framework
DEFAP Seminars (2015 and 2016 classes)

First seminar: The classical monetary model
Second seminar: The New Keynesian framework
Third seminar: Policy tradeoffs

Additional (not compulsory) materials
Empirical evidence on money
Introduction to MATLAB
Introduction to Dynare


Monetary policy & theory
Sapienza Doctoral School in Economics (2010)

Mini course on the New Keynesian approach
The New Keynesian approach: A primer
Monetary regimes in practice
Instrumental rules and stability
Optimal monetary policy
The great inflation

Additional advanced lectures
Discretion vs. inflation targeting in small scale NK models
Commitment vs. discretion in small scale NK models
Financial frictions in an RBC model (Kiyotaki & Gertler, 2010)

Old-course resources and links
Course 2009 homepage (link)
Class lectures 2008 (CGG handout)
Class lectures 2007 (CCG handout, FM handout, exam) (syllabus)
Class lectures 2006 (rules slides, CGG handout, matlab, exam)
Course 2005 homepage (link, exam1, exam2)

References
Note on Blanchard Kiyotaki (1987) by G. Ascari. Link.
Carlin W. and D. Soskice, 2005 "The 3-Equation New Keynesian Model - A Graphical Exposition," Contributions to Macroeconomics, 5: Article 13. Link.
Clarida R., J. Gali and M. Gertler, 1999, "The Science of Monetary Policy: A New Keynesian Perspective," Journal of Economic Literature, XXXVII, pp. 1661-1707. Link.
Gertler N. and N. Kiyotaki, Financial intermediation and credit policy in business cycle analysis, Handbook of Monetary Economics, 2011. Link.
Walsh C., 2002, “Teaching Inflation Targeting: An Analysis for Intermediate Macro,” Journal of Economic Education. Fall: 333-346. Link.


Macroeconomics (PhD)
Sapienza Doctoral School in Economics (2008/09)

Lectures (the baseline model)
Discretion vs. inflation targeting in small scale NK models
The Barro Gordon’s bias in small scale NK models
Commitment vs. discretion in small scale NK models

Advanced lectures
Financial frictions in an RBC model (Kiyotaki & Gertler, 2010)

Assignments
Assignment 1 (solution).

References
Clarida R., J. Gali and M. Gertler, 1999, "The Science of Monetary Policy: A New Keynesian Perspective," Journal of Economic Literature, XXXVII, pp. 1661-1707.


EU regional policy between Ricardian specialization and the New Economic Geography view
PhD Teramo 2009

Classes
Optimal task allocation (slides)
Europe’s economic geography (slides)
EU regional policy (slides)

References
Baldwin R., R. Forslid, P. Martin, G. Ottaviano, and F. Robert-Nicoud, Economic geography and public policy, Princeton University Press, Princeton, 2003.
Baldwin R. and C. Wyplosz, The economics of European integration, McGraw Hill, 2009.
Fujita M. and P. Krugman, The new economic geography: Past, present and the future, Regional Science, 2004 (link).
Krugman P., The new economic geography: Now middle-aged, Prepared for presentation to the Association of American Geographers, 2010 (link).

Interesting web-sites
Richard Baldwin’s web-page (web)
Giammarco Ottaviano’s web-page (web)
Krugman at The New York Times (web)
Jacques-François Thisse’s web-page (web)