Teaching

Econ712: Macroeconomics 1

• Syllabus

• Handout Introduction

• Handout Labor/Leisure Choice

• Kehoe (1989) Chapter

• Handout on Kehoe, Extra

• Handout on Government Policy in an OG environment

• Handout on Conesa and Krueger

• Handout: Intro to Government Commitment Problems

• Handout: Overlapping Generations with Production

• Handout Idiosyncratic Uncertainty

• Handout: Private Information and Banking

• Handout (supplementary): Private Information Frictions

• Handout: Private Commitment Problems

• Handout: Summary

• Practice Midterm

• Fall 2015 Midterm/Answers

• Fall 2016 Midterm/Answers

• Fall 2017 Midterm/Answers

• Fall 2018 Midterm/Answers

• Fall 2019 Midterm/Answers, Comments

• Fall 2020 Midterm/Answers, Comments

• Fall 2021 Midterm/Answers

• Fall 2022 Midterm/Answers, Comments

ECON702: MSFE Macro-Finance

• Syllabus

• Overview: Slides, Notes

• Introduction: Slides, Notes

• Banking: Slides, Notes

Banking Lectures

• Syllabus, IntroSlides

• Lecture 1: Data, Slides, SlidesPart2, Transition (assets, deposits)

• Lecture 2: Simple Canonical Models, Slides

• Lecture 3: Simple Dynamic Framework, Slides

• Lecture 4: Quantitative Models, Simple, Buffers, Global, Ladder, EHM, GK

• Lecture 5: Shadow Banking, Slides

• Background: Simple Firm Dynamics, Slides

FIN971: Corporate Finance

• Syllabus

• Handout Data, Slides

• Problem Set 1: FHP Regressions, Data, Answers

• Frictionless Benchmark, Slides

• Problem Set 2, Estimation Notes, data,  noadjustment.mod, noadjustment_est.mod, noadjustment_est_D.mod, run.m

• Answers to Problem Set 2

• Old Problem Set 2, Dynare Program, Blanchard-Kahn Notes, Dynare Basics

• Tirole Chapter 3

• Tirole Chapter 5

• Handout Tirole Chapters 3 and 5, slides

• Problem Set 3

• Answers to Problem Set 3

• Problem Set 4

• Answers to Problem Set 4

• Tirole Chapter 6

• Handout Tirole Chapter 6, slides

• Handout Strebulaev/Whited, Summary, slides

• Problem Set 5, Notes to PS5, Slides on Gomes

• Answers to Problem Set 5, Update

• Handout Demarzo-Fishman, slides

• Problem Set 6, fmincon_example.m, const.m, objf.m, Figure 5, Payment Figure, Termination Figure

• Answers to Problem Set 6

UP TO DATE ON ABOVE ASSIGNMENTS.

• Problem Set 5

• Answers to Problem Set 5

• Handout Strebulaev/Whited, Summary, slides

• Problem Set 6, Notes to PS6, Slides on Gomes

• Answers to Problem Set 6

• Handout Demarzo-Fishman, slides

• Problem Set 7, fmincon_example.m, const.m, objf.m, Figure5, Payment Figure, Termination Figure

• Answers to Problem Set 7

• Handout Banking

• A Bank Run https://www.youtube.com/watch?v=dJ4ZE8Ap9E4

*******************************Done Till Here*********************

• Problem Set 4

• Problem Set 5

• Old Problem Set 6, Dynare Program, Blanchard-Kahn Notes, Dynare Basics

• Handout Demarzo-Fishman

• Problem Set 8, fmincon_example.m, const.m, objf.m, Figure5, Payment Figure, Termination Figure

• Answers to Problem Set 8

**********SOME EXTRA FROM FALL 2013 COURSE************

• Syllabus

• Handout MM

• Problem Set 1

• Notes to accompany Problem Set 1

• Problem Set 6, Code: AR1_in_logs.m, Nonstochastic_dynamic_investment.m, z_simulation.m

• Problem Set 7, SMM notes, Code: SMM_main.m, SMM_model.m, SMM_derivative.m

• Handout Schmid

• Problem Set 8, Code: interpolation.m

ECON899: Computational Methods

• Syllabus

• Links to FRBQRs on the Distribution of Wealth, QR2121, QR2122, QR2631, QR3411

• Handout with Inequality Data

• Handout on Huggett (1993)

• Slides_Huggett

• Jake's Intro to Programming in Matlab and Fortran (and Python): Prime.f90, Prime.m, Prime.py

• Problem Set 1, vfigrowthf07.m, hw2ns_pablo.f95, HW2ns_parallel.f90, readme_Garrett, growth_julia

• Answers Problem Set 1: hw2.zip

• Jake's Notes on Parallel Processing and Problem Set: Intro, MPI_example.f90 

• Kyle and Sean's Notes on Installing MPI on Windows machines

• Kuan's Notes and Code on Parallel Processing and MPI, Matlab, OpenMP 

• Problem Set 2 , Notes for PS2, OldTstarCode, NewTstarCode

• Answers Problem Set 2: ps4.zip

• Handouts on Conesa-Krueger (1999): Handout Steady States, OLG Overview, Results, Slides

• Problem Set 3: Steady State, ef.txt

• Answers Problem Set 3: PS5_KEY.zip

• Handout Transitions in Conesa Krueger, Slides

• Problem Set 4: Transitions

• Answers Problem Set 4: PS6_KEY.zip

• Handout on Approximating an AR1, Slides

• Tauchen (1986, EL)

• Handout on Krusell-Smith (1998), slides

• Handout on Interpolation, Slides, Phil's Code

• Problem Set 5: Krusell-Smith transition matrix

• Answers Problem Set 5: ps8.zip

• Handout Firm Size Distribution Facts

• Handout on Hopenhayn (1992), Handout: Hopenhayn Meets Pakes, Slides

• Problem Set 6: Hopenhayn and Rogerson (1993)

• Answers Problem Set 6: PS9.zip

• Handout: Estimating Deep Parameters via GMM and SMM, Slides

• Summary

• Handout: SMM Example, Slides

• Problem Set 7: SMM for AR1

• Answers Problem Set 7: PS10.zip

*************************OLD FULL SEMESTER CLASS******************************

• Syllabus

• Compintro

• Olivetti, Silverman, Hong, and Wiczer (2012) handout on accessing data

• Link to Anton Babkin's RDC handout

• Problem Set 1

• Link to Rios-Rull (1997) Computation of Equilibria in Heterogeneous Agent Models

• Links to FRBQRs on the Distribution of Wealth, QR2121, QR2122, QR2631, QR3411

• Handout with Inequality Data

• Handout on Huggett (1993)

• Slides_Huggett

• Handout on Dynamic Programming

• Handout on Measure Theory

• Jake's Intro to Programming in Matlab and Fortran (and Python): Prime.f90, Prime.m, Prime.py

• Problem Set 2, vfigrowthf07.m, hw2ns_pablo.f95, HW2ns_parallel.f90, readme_Garrett, growth_julia

• Answers Problem Set 2: hw2.zip

• Jake's Notes on Parallel Processing and Problem Set: Intro, MPI_example.f90 

• Kyle and Sean's Notes on Installing MPI on Windows machines

• Kuan's Notes and Code on Parallel Processing and MPI, Matlab, OpenMP 

• Problem Set 3

• Answers Problem Set 3: ps3.zip

• Problem Set 4 , Notes for PS4, OldTstarCode, NewTstarCode

• Answers Problem Set 4: ps4.zip

• Handout on Continuous Time Versions of Huggett, Huggett code, Housing code, link: https://github.com/eirikeb/ContTimeHetAgentExample

• Handout on Default Models, Slides on Default Models

• Problem Set 4b, Price menu code

• Answers Problem Set 4b: ps4b.zip

• Handouts on Conesa-Krueger (1999): Handout Steady States, OLG Overview, Results, Slides

• Problem Set 5: Steady State, ef.txt

• Answers Problem Set 5: PS5_KEY.zip

• Handout Transitions in Conesa Krueger, Slides

• Problem Set 6: Transitions

• Answers Problem Set 6: PS6_KEY.zip

• Notes on Education Choice in OG (to accompany old Problem Set 5), Old Problem Set 5 

• Answers to Education Choice: PS5EndogF16.zip

• Handout on Approximating an AR1, Slides

• Tauchen (1986, EL)

• Handout on Krusell-Smith (1998), slides

• Alternative to Krusell-Smith by BKM Slides

• Handout on Interpolation, Slides

• Problem Set 7: extranotes, interpolation.m, myspline.m, mylinspline.m, mylinear.m, mybisec.m, utility.m

• Answers Problem Set 7: ps7.zip

• Problem Set 8: Krusell-Smith transition matrix

• Answers Problem Set 8: ps8.zip

• Handout on Meltzer-Richard (1981)

• Slides for Corbae, D'Erasmo, Kuruscu (2009)

• Handout Firm Size Distribution Facts

• Handout on Hopenhayn (1992), Slides

• Problem Set 9: Hopenhayn and Rogerson (1993)

• Answers Problem Set 9: PS9.zip

• Handout: Estimating Deep Parameters via GMM and SMM, Slides

• Summary

• Handout: SMM Example, Slides

• Problem Set 7: SMM for AR1

• Answers Problem Set 7: PS10.zip

• Handout: Hopenhayn Meets Pakes

• Handout: Computing Strategic Models of Firm Dynamics, slides

• Paolo Martellini's Slides on Continuous Time Methods

• Job Boerma's Slides on Dynamic Taxation

• Handout on computing search models of money

• Handout on private information application, slides

• Handout on corporate finance application

• Final Project Part 1

• Answers Final Project Part 1. finalpart1CompF09ans, computIfinal.m, computIFPlabordecision2.m, computIFPlabordecision3.m

• Final Project Part 2.

• Answers Final Project Part 2. obliviousequilibriumf09, oe_main.m, oe_stochastic_selloff.m, reac_fun.m

*************SOME OLDER NOTES/PROBLEM SETS************************

• Old Handout on Huggett (1996)

• Old Problem Set 5 on Huggett, Input Files for Problem Set 5: F06Hzvec.txt, F06Hpimat.txt, F06Hyvec.txt, F06Hz1probvec.txt

• Answers Even Older Problem Set 5: ps5.zip

• Old Problem Set 6 on Tauchen

• Answers Problem Set 6: ps6.zip

• Handout on Transition Paths

• Problem Set 9: Determining Tax Rates and Transitions

• Answers Problem Set 9: PS9.zip

• Old Problem Set 11: SMM for MA1

• Answers Problem Set 11: ps11.zip

• Problem Set 11old: Estimating Hopenhayn and Rogerson via SMM

• Answers Problem Set 11old:  ps11old.zip

Budapest Banking Minicourse

• Syllabus

• Banking Data

• Slides Intro

• Problem Set 1, Data, Answers

• Slides Theory

• Slides DSGE Models

• Problem Set 2, Answers

• Problem Set 2b, Answers

• Slides Imperfect Competition: EHM, CD1, CD2, CD3

• Problem Set 3, Answers

• Slides Policy: Stress, Bailouts

• Problem Set 4, Code, Answers

Bank of Norway Minicourse

• Syllabus

• Slides Intro

• Problem Set 0, vfigrowth.m

• Slides_Huggett

• Handout Huggett

• Problem Set 1

• Problem Set 1 Answers, Code

• Slides Hopenhayn

• Handout Hopenhayn

• Handout: Hopenhayn Meets Pakes

• Handout SMM

• Problem Set 2

• Problem Set 2 Answers, Code

• Problem Set 3

• Problem Set 3 Answers, Code

Chicago Inequality Summer School

• Notes

• Slides

FIN 305: Financial Markets, Institutions, and Economic Activity, Spring 2012

• Syllabus

• Current Financial Events

• RR Notes

• FR Chapter 1 Notes

Econ 387: Banking and Financial Intermediation: Dynamic Contracts, Spring 2007

• New Syllabus

• Old Syllabus

• Problem Set 1

• Answers - PS#1

• Link to Townsend (JET, 1979)

• Problem Set 2

• Answers - PS#2

• Problem Set 3

• Answers - PS#3, Part 1

• Link to Thomas and Worrall (JET, 1992)

• Problem Set 4

• cheby_points.m

• Answers - Problem Set 4, Figures, Code: thomasworrall.m tw_cons.m value.m utility.m pmaxfun.m pminfun.m

• Handout on Thomas and Worrall, Figures

• Handout on Atkeson and Lucas

• Handout on Fernandez and Phelan

• Handout on Abreu, Pearce, and Stachetti

• Problem Set #5

• Answers - Problem Set 5, Figures, kocherlakota_new, value_kocher., util_kocher.m, cheby_points.m, kocher_cons.m

• Handout on Dynamic Taxation

• Summary by Goloslov, Tysvinski, and Werning

• Final Project: Computing APS, Paper on Computing Supergames by Judd, Yeltekin, and Conklin

• Answers Final Project: 387finalsp07sol.pdf, APS_sol.m, outer_fun.m,  inner_fun.m

*********SOME OLD STUFF********

• Problem Set 3

• Answers - PS#3

• Problem Set 4

• Answers - PS#4

• Problem Set #5

• Link to Wang (JET, 97)

• Problem Set #6

• Link to Christiano (01)

• Christiano programs (zipped)

• Problem Set #7

• Answers - PS #7: KCCD,KEQ1D,KEQ2D

• Link to Rios-Rull (FRBMinn Staff Report #231, 97)

• Problem Set #8

• Programs to compute version of Imrohoroglu (JEDC, 1992): eco387vfi.m, eco387ss.m

• Programs to implement Imrohoroglu using Chebyshev Polynomials: eco387vf_cheb, Tmap, Cheby_points1, Vfun1, Vfun2

• Final Project

• Answers to Final Project: Privinfo,Cheby_points,Cost,PIconstraints,Util,Valfun

Econ 387: Macro II, Spring 2011

Review Session 

Midterm Exam

Final Exam

• Syllabus

• Handout: Data Facts

• H-P Filter

• Problem Set #1

• Answers to Problem Set #1: GNPn.txt, PNFIC1n.txt, ps1n.m

• Handout: Introduction to RBC Models

• Handout: A Primer on Solving a Real Business Cycle Model

• Some matlab files to solve the simple RBC Model in the previous handout: ss.m, RBC.m

• Problem Set #2

• Answers to Problem Set #2

• Handout: A Primer on Solving an RBC Model by Christiano's Method of Undetermined Coefficients

• Problem Set #3

• Answers to Problem Set #3

• Hansen (1985) paper

• Handout: Hansen's Indivisibilities model

• Problem Set #4

• Answers to Problem Set #4

• Cooper's Handouts on Overlapping Generations: cooperog06, cooperogree, coopermb1006

• Problem Set on OG

• Answers to Problem Set on OG

• Handout: Matching Models of Unemployment

• Handout: Complete Markets

• Handout: Markov Processes

• Problem Set #5

• Answers to Problem Set #5: Part 1, Part 2

• Midterm Exam Answers Spring 2011

• Midterm Exam Answers Spring 2008

• Midterm Exam Answers Spring 2006

• Midterm Exam Answers Spring 2005

• Midterm Exam Answers Spring 2004

• Midterm Exam Answers Spring 2003

• Handout: Asset Pricing

• Problem Set #6

• Answers to Problem Set #6

• Handout: A Primer on Recursive Competitive Equilibrium

• Handout: A Primer on Dynamic Programming

• Problem Set #7, Program: vfigrowth.m

• Answers to Problem Set #7

• Problem Set #8

• Answers to Problem Set #8

• Handout: Intro to Government Commitment Problems

• Problem Set #9

• Answers to Problem Set #9

• Handout: The Optimal Mix of Distortionary Taxation with Commitment

• Problem Set #10

• Answers to Problem Set #10

• Handout: Timing of Taxation

• Handout: Cash-in-Advance Models

• Problem Set #11

• Answers to Problem Set #11

• Handout: Spatial Models of Money

• Handout: Banking

• Problem Set #12

• Answers to Problem Set #12

• Final Exam Answers Spring 2008

• Final Exam Answers Spring 2006

• Final Exam Answers Spring 2005

• Final Exam Answers Spring 2004

• Final Exam Answers Spring 2003

• **********OLD CLASS****************

• Syllabus

• Handout: Data Facts

• H-P Filter

• Problem Set #1

• Answers to Problem Set #1

• Handout: VMAs vs VARs

• Problem Set #2

• Hints for Problem Set #2

• Answers to Problem Set #2

• Some matlab files to solve the simple RBC Model in the previous handout: ss.m, RBC.m

• Problem Set #3

• Answers to Problem Set #3

• Handout: A Primer on Solving an RBC Model by the Method of Undetermined Coefficients

• Problem Set #4

• Answers to Problem Set #4

• Handout: Simulatated Method of Moments

• Problem Set #5

• Simulated Method of Moments programs: EYdd.m, EYds1.m, smons.m, smmhwhandout.pdf

• Handout: Increasing Returns and Growth

• Problem Set #6

• Answers to Problem Set #6

• Handout: Generalized Method of Moments

• Problem Set #7: hw7bdata1.txt, GMM.zip, GMMNotes.pdf

• Answers to Problem Set #7

• Handout: Equity Premium Puzzle

• Handout: A Primer on Markov Processes

• Problem Set #8

• Answers to PS#8

• Handout: A Primer On Existence of Competitive Equilibrium in Infinite Dimensional Sequence Problems 

• Handout: A Primer on Recursive Competitive Equilibrium

• Handout: A Primer on Dynamic Programming

• Problem Set #9. Program: vfigrowth.m

• Answers to Problem Set #9

• Problem Set #10

• Answers to Problem Set #10

• Handout: Simple Statement of Government Commitment Problems

• Handout: A Primer on Dynamic Ramsey Taxation

• Problem Set #11

• Answers to Problem Set #11

• A Primer on Tax Wedges

• Handout: Tax Smoothing

• Problem Set #12

• Answers to Problem Set #12

• Handout: C-I-A constraints

• Handout: Search Models of Money

• Problem Set #13

• Handout: Turnpike Models

• Handout: Banking

Econ 387: Macro II, Spring 2009

• Part 2 Syllabus

• Handout on Dynamic Programming

• Problem Set #1

• Handout on Recursive Competitive Equilibrium

• Handout on Matching Models

• Problem Set #2

• Handout on Time Inconsistency Problems

• Problem Set #3

• Handout on Capital Taxation

• Problem Set #4

• Handout on Timing of Taxation

• Handout on Cash-In-Advance Models

• Answer Question 2 Final Exam

Econ 387: Macro I, Fall 2008

• Part 2 Syllabus

• Handout on Solow

• Handout on Banking

• Handout on Finite Dimensional Dynamic Optimization

• Problem Set 1

• Answers PS #1

• Handout on Infinite Dimensional Dynamic Optimization

• Problem Set 2

• Answers PS #2

• Handout on Global Convergence

• Handout on Linearization

• Problem Set 3

• Answers PS #3

• Handout on Sequential Competitive Equilibrium

• Problem Set #4

• Answers PS #4

• Handout on Uncertainty

• Problem Set #5

• Answers PS #5

• Handout on Solving RBC Models

• Problem Set #6

• Handout on Asset Pricing

• Problem Set #7

• Answers PS #7

• Exam Answers

ECO397: Open Economy Macroeconomics

• Syllabus

• Six Puzzles

• Handout on Six Puzzles

• IMF Sessions: IMFCampInfo, IMFCamp

• Sustek

• Handout on Benchmark Models

• Code for Small Open Economy Benchmark Model

• Code for Backus-Kehoe-Kydland JPE 92

• Code for Finn

• Quadrini Notes

• Quadrini Problem Set

• ***************OLD CLASS***********

• Syllabus

• Handout on Iceberg Costs

• Problem Set #1

• Problem Set #2

• Answers Problem Set #2

• Handout on Computing Small Open Exchange Economies

• Problem Set #3

• Programs to compute RBC model with numerical linearization via Christiano method: myRBC.m, solvea.m, solveb.m, qzswitch.m, qzdiv.m

• Lucas (82)

• Handout on Intl Money

• Problem Set #4, matlab program to compute policy function iteration for growth model

• Handout on Chari, Kehoe, McGratten

ECO392M: Seminar in Quantitative Economics

• Project

Econ 387L.13: Mathematical Economics, Fall 2002

• Syllabus

• C-Z, Table of Contents

• C-Z, Chapter 1

• C-Z, Chapter 2

• Chapter 2 Figures

• C-Z, Chapter 3

• Chapter 3 Figures

• Problem Set 1

• C-Z, Chapter 4

• Chapter 4 Figures - a

• Chapter 4 Figures - b

• Problem Set 2

• Problem Set 3

• C-Z, Chapter 5

• Exam 1 Answers

• C-Z, Chapter 6

• Problem Set 4

• Problem Set 5

• C-Z, Chapter 7

• Final Exam

• Entire Manuscript

• Final Manuscript 2008