Monetary Economics: Macro Aspects

Spring, 2008

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. Finally, I give for the first four recaps some suggestions on which exercises in the Walsh book I think are helpful to solve.


Recap information 1: "Stylized facts," empirical problems and issues (pdf 55 Kb).

Recap information 2: The Tobin effect and micro-founded, flexible-price models with money in the utility function (pdf 70 Kb).

Recap information 3: Shopping-time models and Cash-in-Advance models (pdf 30 Kb).

Recap information 4: Inflation as a tax (pdf 35 Kb).

Recap information 5: Money's role with incomplete nominal adjustment (pdf 25 Kb).

Recap information 6: Rules versus discretion: Credibility problems (I) (pdf 50 Kb).

Recap information 7: Operating procedures, interest rates and monetary policy (pdf 35 Kb).

Recap information 8: Monetary policy conduct in "New-Keynesian"models: Credibility problems (II) (pdf 35 Kb).

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

Recap information 10: Inflation targeting (pdf 30 Kb).