Poslední úprava: Mgr. Nikoloz Kudashvili, Ph.D. (23.04.2021)
Holiday [H]; Rector's day-off [R]; Dean's day-off (D) in February - May 2021.
1. Friday, April 2, 2021 [H]
2. Monday, April 5, 2021 [H]
3. Friday, April 30, 2021 [D]
4 Wednesday May 12, 2021 [R]
Lecture 1 - February 19
Seminar 1 - February 19
Lecture 2 - February 26
Seminar 2 - February 26
Lecture 3 - March 5
Seminar 3 - March 5
Lecture 4 - March 12
Seminar 4 - March 12
Lecture 5 - March 19
Seminar 5 - March 19
Lecture 6 - March 26
Seminar 6 - March 26
Lecture 7 - April 9
Seminar 7 - April 9
Lecture 8 - April 16
Seminar 8 - April 16
Lecture 9 - April 23
Seminar 9 - April 23
Lecture 10 - May 7
Seminar 10 - May 7
Lecture 11 - May 14
Seminar 11 - May 14
Notes:
The following questions will be addressed in the class:
Why do prices tend to be sticky in the long-run?
What are benchmark models for analyzing inflation-output tradeoffs?
What is the optimal price setting under the assumption of sticky prices?
What is the optimal price setting under the assumption of sticky prices?
What is the optimal price setting under the assumption of rational inattention?
What is the output responsiveness to fiscal shocks? How do we measure fiscal multipliers? How
is the size of fiscal multipliers varying on the exchange rate regime and public policy?
What happens to fiscal multipliers if zero lower bound on nominal interest rate binds?
Content
1. Introduction to information economics
2. Models on inflation-output trade-off
3. Models on sticky information
4. Models on sticky prices
5. Models on rational inattention
6. Fiscal multipliers and their size
Week 1
Classical monetary theory
Week 2
Introduction to a New Keynesian Models
Log-linearization
Week 3
New Keynesian Models: Firm's problem; Household's problem
Week 4
New Keynesian Models, Value Functions - Bellman Equation
Week 5
New Keynesian Models, Calvo Price setting: aggregate and optimum price dynamics
Week 6
New Keynesian Models: Equilibrium
Week 7
New Keynesian Models: impulse response functions;
Concluding Remarks on
Week 8
Critical Examination of the Basic New Keynesian Model;
Lucas Islands Model
Week 9
Sticky prices vs Sticky info;Introduction to Information Theory
Week 10
Rational Inattention
Week 11
RI: Costly Information
Week 12
RI: Dynamic Setup