Macroeconomic Analysis I

Description: 

Methods of modern macroeconomics for researchers in the field: Stationary Markov environments, state-space methods, stochastic difference equations, dynamic programming and Lagrangian methods, complete markets, dynamic stochastic general equilibrium models, solution techniques, empirical consequences of macroeconomic shocks; structural estimation, the Ramsey problem, dynamic stochastic general equilibrium (DSGE) models. To this end a number of theoretical and empirical concepts are presented. Examples include the computation of impulse response functions, structural vector autoregressions, as well as an introduction to structural estimation. On the normative side the concept of Ramsey optimal policy is presented.

Literature:
Ljungqvist and Sargent, Recursive Macroeconomics, 2nd edition (Cambridge, USA: 2004)
Selected journal articles, e.g., Galí, Jordi and Pau Rabanal (2004), Technology Shocks and Aggregate Fluctuations: How Well Does the RBC Model Fit Postwar U.S. Data?, in: NBER Macroeconomics Annual.

Credits: 
9.00
Affiliation: 
Humboldt-Universität zu Berlin