On this page, you will find all the relevant information concerning the Macroeconomics 2 course. 
 

General Information

• Sessions: 9 weeks
• Schedule of the course (with exceptions posted on the M2 board):  Monday 9:30-11:00 and Tuesday 9:30-11:00
• Small classes: will start  January 22,  2010, exact schedule is below.

Evaluation

• 2/10 for the small classes presentation and participation. Groups of 2 or 3 students have to choose a paper  and prepare a presentation of the paper OR a written and oral report. The report should be organised as follows: (i) a  summary of the paper, (ii) an answer to the question "What are according to you the main interesting features of this paper?", (iii) an answer to the questions "What would you like the author(s) to do differently in this paper?" and "What do you dislike in this paper?".
• 8/10 for the final exam. The final exam is done individually and no documents are allowed during the exam. The exam will consist of exercises and questions relative to the course and the papers that you have to work on for the small classes.

Slides

• Chapter 0  (course presentation )
• Chapter 1 (chapter 1 with typos corrected in red)
• Chapter 2 (chapter 2 with typos corrected in red)
• Chapter 3 : part 1, part 2 (chapter 3 part A with typos corrected in red)
• Chapter 4

Useful papers

• Hayashi and Precott view of the 90's in Japan: "The 1990s in Japan: A Lost Decade"

Small Classes Papers

1. No more than 3 students per paper
2. All slots (presentation and report) should be allocated
3. No groups of 1 and 3 students should co-exist
4. Presentation are expected to take 1hour.
5. Discussions are expected to take 20 mn and  must be accompagnied with a written report.
6. Slides of the presentation and of the discussion should be sent to  Franck Portier  the day of the presentation
   

• Gali 1992 : How well does the ISLM model fit postwar U.S. data?
• Krugman, Dominquez & Rogoff 1998: It's Baaack: Japan's Slump and the Return of the Liquidity Trap.
  
• Cardia 1992: Replicating Ricardian Equivalence tests with simulated series.
• Cogley & Nason 1995: Output dynamics in Real-Business-Cycle models.
• Chari, Kehoe and McGrattan 2007: Business Cycle Accounting
• Gali, Lopez-Salido & Vales 2003: Technology shocks and Monetary Policy: Assessing the Fed's performance.
• Gabaix  2005: The Granular Origins of Aggregate Fluctuations.
• Greenwood, Seshadri & Yorukuglu 2005: Engines of Liberation.
  

Small Classes Students Presentations, Discussions and Reports

• session I: Presentation, discussion, report.
• session II: Presentation, discussion, report.
• session III: Presentation, discussion, report.
• session IV: Presentation, discussion, report.
• session V: Presentation, discussion, report.
• session VI: Presentation, discussion, report.
• session VII: Presentation, discussion, report.
• session VIII: Presentation, discussion, report.

Homeworks 

• Problem set 1, solution. 
• Problem set 2, solution. 
  

Archives

• You can  find here some past exams.

Recent Updates (inverse chronological order)

• March 12, 2010: I have posted report and discussion of Gabaix.
• March 11, 2010: I have posted presentations of Gabaix and Chari-Kehoe-McGrattan.
• March 9, 2010: I have posted discussion and report of the Gali, Lopez-Salido and Vales paper.
• March 8, 2010: I have posted last year exam + solution in the archives page and the solution to homework 2.
• March 6, 2010: I have posted some extra presentations, reports and discussions of the small classes.
• February 28, 2010: Some presentations, reports and discussions of the small classes are posted (some are still missing). Chapter 4 has been posted (it corresponds to chapter 5 of the initial plan. Former chapter 4 (Great Depression) and chapter 6 will not be taught) (I skip those chapters every year). Homework 2 is also posted.
• February 7, 2010: Chapters 1, 2 and 3 part A with typos coorected in red have been posted.
• February 5, 2010: Updated schedule of small classes have been posted.
• January 31, 2010: Part 2 of Chapter 3 is posted. I put a link to the Hyashi-Precott paper on the 1990's in Japan.
• January 29, 2010: Homework 1 solutions is posted.
• January 24, 2010: Part 1 of Chapter 3 and problem set 1 are posted.
• January 7, 2010: Creation of the 2009/2010 version of the page. I have posted the course presentation and the first part of chapter 1.
• January 11, 2010: I have posted chapter 2.