Syllabus
Classes: Mo 6:30PM - 7:50PM, room 105
Seminars: Wed 12:30AM - 14:00PM, room 314
Teachers: Aleš Maršál, David Svačina
Office Hours:
Ales: after the Monday class
Exam: last seminar in December
Course Content
1. Introduction
1.1 Introduction: slides (David)
1.2 Loglinearization: Katrin's lecture notes on log-linearization, Uhlig log-linearization, Log-linearization cookbook (David)
1.3 Matlab: Introduction to Matlab (David), Matlab Exercises (David), Matlab Exercsise code (David)
1.4 Introduction to Macro Data: slides, extracting business cycle, US data, HP filter, BandPass filter
1.5 Classical Monetary Model: slides, dynare code, hand solution code, Money in Utility Function (David)
Problem set 1: Problem set 1
2. Basic New Keynesian Model
(based on Gali Chapter 3&4)
2.1 Basic New Keynesian Model:
Gali book, slides, recap on Dixit Stiglitz, some more here
it may be helpful to read lecture notes by Christiano (slide 33)
2.2 Closing the basic NK model
uniqueness of equilibrium, this is the .m file you should get familiar with, it calls:
a) basic NK model augmented by Y, M, N
b) looping over sigma
c) looping over sigma and Frish elasticity
d) alternative way how to search over the grid of param
2.3 Additional reading:
- really nice lecture notes by Iacovielo for a bit simple simpler model than we did
- Chapter by CTW
- more on perturbation again by Christiano
- if you are interested more in the numerical methods "behind the scene" read Fabrice Collard
- replication of several papers in dynare by J. Pfeifer
- more dynare code for example here
2.4 Introduction to Dynare (Seminar 6): Presentation Dynare file
Problem set 2: Problem set 2 due 20.11.2016
3.1 Comparison of CMM and NK model: Lecture&Seminar presentation Matlab files: CMM model, NK model
Extensions of New Keynesian model
4.1 Labour market imperfections, inflation indexation: Presentation
Dynare files: Basline NK model, Labour market imperfections, Inflation indexation
4.2 Capital in production function, real rigidities: Presentation
Problem set 3: Problem set 3 due 21.12.2016 (version from 16.12.2016 (20:00), corrected typo in objective functions of labour unions and retailers, adding specifically with respect to which variables optimize households and firms, correcting definition of inflation indexation factor X_{t,k}, corrected nominal stochastic discount factor of households E_t Q_{t,t+k})
4.3 Derivation of baseline NK model in levels and its coding into Dynare: Lecture, Dynare
Problem set 4: Problem set 4 - presentation during seminar on Wednesday 21.12.2016
4.4 Interpretation of impulse response of various models: Presentation