- Docente: Paolo Luciano Adalberto Manasse
- Credits: 6
- SSD: SECS-P/01
- Language: English
- Teaching Mode: Traditional lectures
- Campus: Bologna
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Corso:
Second cycle degree programme (LM) in
Economics and Econometrics (cod. 5977)
Also valid for Second cycle degree programme (LM) in Economics and Econometrics (cod. 5977)
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from Nov 08, 2023 to Dec 11, 2023
Learning outcomes
At the end of the course the student should have acquired a good understanding of macroeconomic models used to study the determinants and evolution of output, unemployment and prices, in the short and medium run, and of issues related to the conduct of monetary and fiscal policy. In particular, he/she knows: - the role played by nominal and real rigidities in the transmission of monetary shocks and the role of rational expectations; - the determinants of unemployment; - the meaning of sustainability and solvency in the public debt dynamics; - models of the political economy of public debt and default.
Course contents
The course will cover topics in concerning Fiscal Policy, Monetary Policy and Unemployment
Part 1 Monetary Policy
-Inflation, Money Growth and Interest rules
- The terms structure of Interest Rates
- Stabilization Policy and interest rate Rules
- Dynamic Inconsistency of Low Inflation Monetary Policy
- The Zero Lower Bound on Nominal Interest Rates
Part 2 Fiscal Policy
- The Government Budget Constraint and Ricardian Equivalence
- Tax Smoothing and Optimal Tax Policy
- Political-Economy Theories of Budget Deficit
- Sovereign Debt Crises
Part 3 Unemployment
- The Efficiency Wage Model
- Search and Matching Models
- Implicit Contracts,
- Insider-Outsider Model
Readings/Bibliography
David Romer (R), Advanced Macroeconomics, McGraw Hill, 2019 (5th ed) .
Slides and lecture notes
Teaching methods
Frontal Lectures and Classes with TA
Assessment methods
Evaluation of homework and inal written exam
Teaching tools
Lecture notes and slides on virtuale
Office hours
See the website of Paolo Luciano Adalberto Manasse