ADVANCED MACROECONOMICS
Fall 2015

Errata to the exercise problems
(continually updated)

X.7h), line 1:    "adverse demand shock"    should read     "adverse aggregate demand shock".
    -,  after h) add:      i) And what is the likely effect on aggregate employment?
                                 j) Relate your answers to h) and i) to the stylized fact (ii) above.