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Economics 411-1, Fall 2009 |
Use the syllabus from last year’s course.
Class notes on: Recursive Representations of the Planning Problem, Introducing Hours Worked into the 'Canonical Model'; Shleifer's Implementation Cycles; Matsuyama's Growing Through Cycles; Bubbles; US Data; Recursive Methods and Participation Constraints; Krusell-Rios-Rull on Vested Interests; Christiano-Harrison, Ideas and Cycles, handout1 and handout2 on perturbation method (stochastic part not required for the course)
Notes on financial frictions:
Frictions based on asymmetric information and costly state verification:
Bernanke-Gertler-Gilchrist (class handout)
Frictions based on asymmetric information and moral hazard.
Homework #1: Exercises 2.1, 2.2, 2.3, 3.9 in S-L.
Homework #4.