Monetary Economics: Macro Aspects

Spring, 2007

Henrik Jensen
Department of Economics
University of Copenhagen

Recap Information

Here, I will post notes where the key concepts covered in recent lectures are briefly listed. These notes will, along with lecture slides, hopefully provide valuable information about what is essential in the curriculum, and what is less essential (at least in my opinion, which is not entirely irrelevant information to you.....). Also, in various circumstances, some discussion about what is relevant for the exam (in terms of exemplifying a potential exam question) will be provided.


Recap Information 1: "Stylized facts," empirical problems and issues (pdf file, 53 Kb). This note contains general information on how exam questions will be designed, with emphasis on the degree of importance of math (this information will not be repeated in the subsequent Recaps). An example of an exam question is also included.


Recap Information 2: The Tobin effect and micro-founded, flexible-price models with money in the utility function (pdf file, 65 Kb). An example of a technical exam question is included.


Recap Information 3: Shopping-time models and Cash-in-Advance models (pdf file, 25 Kb).


Recap Information 4: Inflation as a Tax (pdf file, 30 Kb).


Recap Information 5: Money's role with incomplete nominal adjustment (pdf file, 23 Kb).


Recap Information 6: Rules versus discretion: Credibility problems (I) (pdf file, 47 Kb). An example of a technical exam question is included.


Recap Information 7: Operating procedures, interest rates and monetary policy (pdf file, 32 Kb). 


Recap Information 8: Monetary policy conduct in "New-Keynesian" models: Credibility problems (II) (pdf file, 34 Kb).


Recap Information 9: Open-economy aspects and monetary policy coordination (pdf file, 35 Kb).


Recap Information 10: Inflation targeting (pdf file, 29 Kb).