Description:
This course teaches new developments in the field of monetary economics. We start with a refresher on the dynamic New Keynesian model that is at center stage in the course "Monetary Economics". We then discuss some recent extensions of the New Keynesian model. Examples include open economy models as well as models with financial frictions. Those features are empirically motivated and their presence also has important normative implications, as we are going to see. In the final part of the course, we discuss the recently emerging HANK models. Throughout the course, we assess the empirical relevance of the theoretical models under consideration, and we also develop the techniques that are necessary to work with the concepts that are presented.
Literature:
Galí, Jordi (2015): Monetary Policy, Inflation and the Business Cycle, Princeton University Press.
Further literature: see Moodle
Time & venue:
Lectures: Tuesdays, 10:00-12:00 (starting on 16.04.2024), HU Berlin, Spandauer Str. 1, room 125
Tutorials: Mondays, 12:00-14:00 (starting on 22.04.2024), HU Berlin, Spandauer Str. 1, room 125
Exam:
Written exam
Exam review (Klausureinsicht): Wednesday, August 14, 2024, 11:00 - 12:00, HU Berlin, Spandauer Str. 1, room 331
