Advanced Macroeconomics Fall 2016

Data

13/9-2016    Slides on the Great Slump

27/9-2016   Government debt and budget deficits, based on:
USA 1791-1996. Source: Elmendorf and Mankiw (1999).
US Government debt and expenditure composition 1974-2013 and the expected future path. Source: Cline.
Sustainability of public debt in the United States and Japan. PIIE Briefing 14-4, Dec. 2014. Net public debt since 1995. Diverse countries. Source: IMF.              

27/9-2016    Some data supporting Ricardian Non-Equivalence

25/10-2016  Investment and Tobin's q

1/11-2016    A Tobin's-q mechanism in the housing market. 
8/11-2016    Housing market dynamics.    Housing and equity share bubbles?

15/11-2016  The US treasury yield curve.

6/12 and 13/12:

The Great Recession:
                    Household debt 
                    Eichengreen and O'Rourke, Comparing today’s global crisis with the Great Depression. (Voxeu.org, 2010)
                    Slides on the Great Slump and economic policy (same as 13/9 except for addition of two policy slides from 2011).

Business cycles:
                    A VAR model:
                    SL-LM with a Phillips curve: Gali, J., 1992, How well does the IS-LM model fit U.S. data? Quarterly J. of Economics, vol. 107 (2), 709-738.
                    Historical perspective on business cycles 
                    Some business cycle facts
                    See also the textbook by Sørensen and Whitta-Jacobsen, Introducing Advanced Macroeconomics: Growth and Business Cycles, 2nd ed.

Reinhart, C.: The economic and fiscal consequenses of fiscal crises, VOX, Jan. 26, 2009, http://voxeu.org/index.php?q=node/2877.
Nouriel Roubini on the financial crisis