Posts for the Winter 2015 Exam

• Contra John Taylor
  
• Anat Admati, Martin Hellwig and John Cochrane on Bank Capital Requirements
  
• Monetary Policy and Financial Stability
  
• Meet the Fed’s New Intellectual Powerhouse
  
• SNB should introduce a fee on paper currency
  
• Get Real: Robert Shiller’s Nobel Should Help the World Improve Imperfect Financial Markets
  
• Top 52 All-Time Posts and All My Columns Ranked by Popularity, as of May 23, 2014
  
• Cognitive Economics
  

Additional Posts, Added Winter 2015

1. Cognitive Economics
   
2. In Defense of Clay Christensen: Even the ‘Nicest Man Ever to Lecture’ at Harvard Can’t Innovate Without Upsetting a Few People
   
3. My Advice to Qatar: Make Math Education a Research Grand Challenge
   
4. Clay Christensen, Jerome Grossman and Jason Hwang: How to Divide and Conquer Our Health Care Problems
   
5. The Swiss National Bank Means Business with Its Negative Rates
   
6. Q&A on the Swiss National Bank’s Move to Negative Interest Rates
   
7. Swiss pioneers! What unpegging the franc from the euro means for the US dollar
   
8. Righting Rogoff on Monetary Policy
   
9. On the Need for Large Movements in Interest Rates to Stabilize the Economy with Monetary Policy
   
10. Greg Shill: So What Are the Federal Reserve’s Legal Constraints, Anyway?
    
11. Happiness and Satisfaction Are Not Everything: Toward Well Being Indices Based on Stated Preferences
    
12. The National Security Case for Raising the Gasoline Tax Right Now
    

12-Minute Topics

1. Sources of real rigidity
2. Fiscal policy in RBC models and sticky price models

Readings: Blog Posts

By 2d Class:

1. Three Goals for Ph.D. Courses in Economics
2. Balance Sheet Monetary Policy: A Primer
3. QE or Not QE: Even Economists Need Lessons in Quantitative Easing, Bernanke Style
4. Wallace Neutrality Roundup: QE May Work in Practice, But Can It Work in Theory?
5. Roger Farmer on the Value of Sovereign Wealth Funds for Economic Stabilization
6. Sticky Prices vs. Sticky Wages: A Debate Between Miles Kimball and Matthew Rognlie
7. The Unavoidability of Faith

By 3d Class:

1. John Cochrane on the Information Economy (“Larry Summers’ Martin Feldstein Speech”)
2. The Logarithmic Harmony of Percent Changes and Growth Rates
3. The Shape of Production: Charles Cobb’s and Paul Douglas’s Boon to Economics
4. The Medium-Run Natural Interest Rate and the Short-Run Natural Interest Rate
5. The Shakeup at the Minneapolis Fed and the Battle for the Soul of Macroeconomics
6. The Neomonetarist Perspective

By 4th Class:

1. How and Why to Eliminate the Zero Lower Bound: A Reader’s Guide
2. How Subordinating Paper Money to Electronic Money Can End Recessions and End Inflation
3. How the Electronic Deutsche Mark Can Save Europe
4. Could the UK be the First Country to Adopt Electronic Money?
5. America’s Big Monetary Policy Mistake: How Negative Interest Rates Could Have Stopped the Great Recession in Its Tracks
6. Gather ‘round, Children, Here’s How to Heal a Wounded Economy
7. A Minimalist Implementation of Electronic Money  
8. How to Set the Exchange Rate Between Paper Currency and Electronic Money
9. Going off the Paper Standard
10. The Costs and Benefits of Repealing the Zero Lower Bound … and Then Lowering the Long-Run Inflation Target

For exam:

1. Getting the Biggest Bang for the Buck in Fiscal Policy
2. Anat Admati, Martin Hellwig and John Cochrane on Bank Capital Requirements
3. Monetary Policy and Financial Stability
4. On the Great Recession

For prelim: To be added

Resources

• Syllabus
• “Are Technology Improvements Contractionary,” by Susanto Basu, John Fernald and Miles Kimball
• “The Investment Collapse Model,” appendix for a paper by Rudi Bachmann, Robert Barsky and Miles Kimball
• “The Quantitative Analytics of the Basic Neomonetarist Model”
• ‘Investment Planning Costs and the Effects of Fiscal and Monetary Policy’ by Susanto Basu and Miles Kimball
• Slides for 'Investment Planning Costs and the Effects of Fiscal and Monetary Policy’ by Susanto Basu and Miles Kimball
• “Reasonable Parameter Values Make the Basic RBC Model Act Like the Solow Growth Model
• "Q-Theory and Real Business Cycle Analytics”
• “Sticky Price Models and Durable Goods” by Robert Barsky, Chris House and Miles Kimball
• Student Notes from Winter 2013
• Student Notes from Fall 2009
• Investment in Business Cycles (Powerpoint)
• Miles’s Business Cycle Analytics Textbook Draft
• List of topics from Past 611 and 612 classes (too many to cover all of them in half a semester)
• Notes from Miles’s Advanced Undergraduate Real Business Cycle Theory Class (Economics 490)
• Notes from Miles’s Advanced Undergraduate Business Cycle Class (Focusing on Dynamic Sticky Price Models) A
• Notes from Miles’s Advanced Undergraduate Business Cycle Class (Focusing on Dynamic Sticky Price Models) B 
• Winter 2013 Half-Semester Exam
• Winter 2014 Half-Semester Exam 

I will be out of town on February 11: no class that day. 

TO MAKE UP FOR LOST TIME FROM MY BEING GONE ON FEBRUARY 11 AND THE SNOW DAY, WE AGREED TO ADD 1.5 HOURS TO THE CLASSES ON FEBRUARY 18, AND FEBRUARY 25.  

Note: Please fill out evaluations online between February 17 and February 24.