Achtung! Das Lehrangebot ist noch nicht vollständig und wird bis Semesterbeginn laufend ergänzt.
040039 UK Applied Macroeconomics (BA) (2018W)
Prüfungsimmanente Lehrveranstaltung
Labels
Lecturer: Ziegenbein Alexander
An/Abmeldung
Hinweis: Ihr Anmeldezeitpunkt innerhalb der Frist hat keine Auswirkungen auf die Platzvergabe (kein "first come, first served").
- Anmeldung von Mo 10.09.2018 09:00 bis Do 20.09.2018 12:00
- Abmeldung bis Mo 15.10.2018 23:59
Details
max. 50 Teilnehmer*innen
Sprache: Englisch
Lehrende
Termine (iCal) - nächster Termin ist mit N markiert
- Mittwoch 03.10. 08:00 - 09:30 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
- Donnerstag 04.10. 16:45 - 18:15 Hörsaal 3 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Mittwoch 10.10. 08:00 - 09:30 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
- Donnerstag 11.10. 16:45 - 18:15 Hörsaal 3 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Mittwoch 17.10. 08:00 - 09:30 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
- Donnerstag 18.10. 16:45 - 18:15 Hörsaal 3 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Mittwoch 24.10. 08:00 - 09:30 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
- Donnerstag 25.10. 16:45 - 18:15 Hörsaal 3 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Mittwoch 31.10. 08:00 - 09:30 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
- Mittwoch 07.11. 08:00 - 09:30 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
- Donnerstag 08.11. 16:45 - 18:15 Hörsaal 3 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Mittwoch 14.11. 08:00 - 09:30 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
- Donnerstag 15.11. 16:45 - 18:15 Hörsaal 3 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Mittwoch 21.11. 08:00 - 09:30 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
- Donnerstag 22.11. 16:45 - 18:15 Hörsaal 3 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Mittwoch 28.11. 08:00 - 09:30 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
- Donnerstag 29.11. 16:45 - 18:15 Hörsaal 3 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Mittwoch 05.12. 08:00 - 09:30 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
- Donnerstag 06.12. 16:45 - 18:15 Hörsaal 3 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Mittwoch 12.12. 08:00 - 09:30 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
- Donnerstag 13.12. 16:45 - 18:15 Hörsaal 3 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Mittwoch 09.01. 08:00 - 09:30 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
- Donnerstag 10.01. 16:45 - 18:15 Hörsaal 3 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Mittwoch 16.01. 08:00 - 09:30 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
- Donnerstag 17.01. 16:45 - 18:15 Hörsaal 3 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Mittwoch 23.01. 08:00 - 09:30 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
- Donnerstag 24.01. 16:45 - 18:15 Hörsaal 3 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Mittwoch 30.01. 08:00 - 09:30 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
- Donnerstag 31.01. 16:45 - 18:15 Hörsaal 3 Oskar-Morgenstern-Platz 1 Erdgeschoß
Information
Ziele, Inhalte und Methode der Lehrveranstaltung
To what extent can monetary and fiscal policy stabilize economic activity? How does the economy evolve in the aftermath of a financial market disruption? What is the effect of an increase in uncertainty on macroeconomic variables?In this course, we learn how macroeconomists address such questions empirically. The class has two parts. In Part I, we lay the groundwork and study the most common econometric time-series methods macroeconomists use today. In Part II, we apply these methods and study contemporaneous macroeconomic questions and phenomena. We also contrast the empirical findings with the theories you learned over the course of your degree.
Art der Leistungskontrolle und erlaubte Hilfsmittel
The evaluation of Part I (50%) is based on a written exam. The evaluation of Part II (50%) is based on a student project that involves applying the methods presented in the course.
Mindestanforderungen und Beurteilungsmaßstab
- Good knowledge of basic econometrics (Introductory Econometrics)
- Basic knowledge of macroeconomics
- Basic knowledge of macroeconomics
Prüfungsstoff
- Time-series econometric methods (autoregressive models & moving average models)
- Structural identification strategies used by macroeconomists
- Understanding and interpretation of empirical findings
- Structural identification strategies used by macroeconomists
- Understanding and interpretation of empirical findings
Literatur
Part I: Lecture slides
Background reading: Hamilton (1994). Time Series Analysis, Princeton University Press.Part II: Lecture slides
Background reading: Ramey (2016). Macroeconomic Shocks and Their Propagation, Handbook of Macroeconomics, Elsevier.Further material (if interested, not required!!)Methodology:Jorda (2005). Estimation and Inference of Impulse Responses by Local Projections. The American Economic Review, 95(1):161–182.Sims, C. (1980). Macroeconomics and Reality, Econometrica 48(1), 1–48Fiscal Policy: Government SpendingAuerbach, A. J. and Gorodnichenko, Y. (2012b). Measuring the output responses to fiscal policy. American Economic Journal: Economic Policy, 4(2):1–27Auerbach, A. J. and Gorodnichenko, Y. (2012a). Fiscal multipliers in recession and expansion. In Fiscal Policy after the Financial Crisis, pages 63–98. Uni- versity of Chicago press.
Barro, R. J. and Redlick, C. J. (2011). Macroeconomic effects from government purchases and taxes. The Quarterly Journal of Economics, 126(1):51–102.Blanchard, O. and Perotti, R. (2002). An empirical characterization of the dynamic effects of changes in government spending and taxes on output. The Quarterly Journal of Economics, 117(4):1329–1368.Ramey, V. A. (2011). Identifying government spending shocks: it’s all in the timing. The Quarterly Journal of Economics, 126(1):1–50.Ramey, V. A. and Zubairy, S. (2016). Government spending multipliers in good times and in bad: evidence from US historical data. Journal of Political Econ-omy, forthcoming.Mountford, A. & Uhlig, H. (2009). What are the effects of fiscal policy shocks?, Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol 24(6), pages 960-992.Fiscal Policy: Tax ChangesBlanchard, O. and Perotti, R. (2002). An empirical characterization of the dy- namic effects of changes in government spending and taxes on output. The Quarterly Journal of Economics, 117(4):1329–1368.Cloyne, J. (2013). Discretionary tax changes and the macroeconomy: new narrative evidence from the United Kingdom. The American Economic Review, 103(4):1507–1528.Mertens, K. and Ravn, M. O. (2013). The dynamic effects of personal and corpo- rate income tax changes in the United States. The American Economic Review, 103(4):1212–1247.Mertens, K. and Ravn, M. O. (2014). A reconciliation of SVAR and narrative estimates of tax multipliers. Journal of Monetary Economics, 68:S1–S19.Perotti, R. (2012). The effects of tax shocks on output: not so large, but not small either. American Economic Journal: Economic Policy, 4(2):214–237.Romer, C. D. and Romer, D. H. (2010). The Macroeconomic Effects of Tax Changes: Estimates Based on a New Measure of Fiscal Shocks. The American Economic Review, 100:763–801.Mountford, A. & Uhlig, H. (2009). What are the effects of fiscal policy shocks?, Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol 24(6), pages 960-992.
Monetary PolicyCloyne, J. and Huertgen, P. (2016). The Macroeconomic Effects of Monetary Policy: A New Measure for the United Kingdom. American Economic Journal: Macroeconomics, 8(4):75–102.Giorgio E. Primiceri, 2005. Time-varying structural vector autoregressions and monetary policy. Oxford University Press, vol. 72(3), pages 821-852.Romer, C., and D. Romer. (1994). A New Measure of Monetary Shocks: Derivation and Implications, American Economic Review 94 (4): 1055–84, 2004Tenreyro, S. and G. Thwaites. (2016). Pushing on a String: US Monetary Policy Is Less Powerful in Recessions, American Economic Journal: Macroeconomics, 8(4): 43-74Uhlig, H. What are the effects of monetary policy on output? Results from an agnostic identification procedure, Journal of Monetary Economics, vol. 52(2), pages 381-419, March 2005
Background reading: Hamilton (1994). Time Series Analysis, Princeton University Press.Part II: Lecture slides
Background reading: Ramey (2016). Macroeconomic Shocks and Their Propagation, Handbook of Macroeconomics, Elsevier.Further material (if interested, not required!!)Methodology:Jorda (2005). Estimation and Inference of Impulse Responses by Local Projections. The American Economic Review, 95(1):161–182.Sims, C. (1980). Macroeconomics and Reality, Econometrica 48(1), 1–48Fiscal Policy: Government SpendingAuerbach, A. J. and Gorodnichenko, Y. (2012b). Measuring the output responses to fiscal policy. American Economic Journal: Economic Policy, 4(2):1–27Auerbach, A. J. and Gorodnichenko, Y. (2012a). Fiscal multipliers in recession and expansion. In Fiscal Policy after the Financial Crisis, pages 63–98. Uni- versity of Chicago press.
Barro, R. J. and Redlick, C. J. (2011). Macroeconomic effects from government purchases and taxes. The Quarterly Journal of Economics, 126(1):51–102.Blanchard, O. and Perotti, R. (2002). An empirical characterization of the dynamic effects of changes in government spending and taxes on output. The Quarterly Journal of Economics, 117(4):1329–1368.Ramey, V. A. (2011). Identifying government spending shocks: it’s all in the timing. The Quarterly Journal of Economics, 126(1):1–50.Ramey, V. A. and Zubairy, S. (2016). Government spending multipliers in good times and in bad: evidence from US historical data. Journal of Political Econ-omy, forthcoming.Mountford, A. & Uhlig, H. (2009). What are the effects of fiscal policy shocks?, Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol 24(6), pages 960-992.Fiscal Policy: Tax ChangesBlanchard, O. and Perotti, R. (2002). An empirical characterization of the dy- namic effects of changes in government spending and taxes on output. The Quarterly Journal of Economics, 117(4):1329–1368.Cloyne, J. (2013). Discretionary tax changes and the macroeconomy: new narrative evidence from the United Kingdom. The American Economic Review, 103(4):1507–1528.Mertens, K. and Ravn, M. O. (2013). The dynamic effects of personal and corpo- rate income tax changes in the United States. The American Economic Review, 103(4):1212–1247.Mertens, K. and Ravn, M. O. (2014). A reconciliation of SVAR and narrative estimates of tax multipliers. Journal of Monetary Economics, 68:S1–S19.Perotti, R. (2012). The effects of tax shocks on output: not so large, but not small either. American Economic Journal: Economic Policy, 4(2):214–237.Romer, C. D. and Romer, D. H. (2010). The Macroeconomic Effects of Tax Changes: Estimates Based on a New Measure of Fiscal Shocks. The American Economic Review, 100:763–801.Mountford, A. & Uhlig, H. (2009). What are the effects of fiscal policy shocks?, Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol 24(6), pages 960-992.
Monetary PolicyCloyne, J. and Huertgen, P. (2016). The Macroeconomic Effects of Monetary Policy: A New Measure for the United Kingdom. American Economic Journal: Macroeconomics, 8(4):75–102.Giorgio E. Primiceri, 2005. Time-varying structural vector autoregressions and monetary policy. Oxford University Press, vol. 72(3), pages 821-852.Romer, C., and D. Romer. (1994). A New Measure of Monetary Shocks: Derivation and Implications, American Economic Review 94 (4): 1055–84, 2004Tenreyro, S. and G. Thwaites. (2016). Pushing on a String: US Monetary Policy Is Less Powerful in Recessions, American Economic Journal: Macroeconomics, 8(4): 43-74Uhlig, H. What are the effects of monetary policy on output? Results from an agnostic identification procedure, Journal of Monetary Economics, vol. 52(2), pages 381-419, March 2005
Zuordnung im Vorlesungsverzeichnis
Letzte Änderung: Mo 07.09.2020 15:28