Lecture slides

Lecture slides are posted no later than 18 hours before the lectures. Bring the slides to the lecture in order to make notes on them. You do not need to read them beforehand. Read the curriculum for the lecture instead.

February 1: Introductory lecture (pdf, 70 Kb).

February 3: On empirics (pdf, 125 Kb)

February 10: On the basic MIU model (pdf, 100 Kb)

February 17: On welfare costs of inflation and a stochastic MIU model (pdf, 105 Kb)

February 24: On shopping-time models and the basic CIA model (pdf, 100 Kb)

March 10: On a stochastic CIA model (pdf, 90 Kb)

March 17: On incomplete nominal adjustment (I) (pdf, 95 Kb)

March 24: On incomplete nominal adjustment (II) (pdf 100 Kb)

April 7: On monetary credibility problems (pdf 85 Kb)

April 14: On operating procedures and choice of monetary policy instrument (pdf 80 Kb)

April 21: On interest rate policies (I) (pdf 90 Kb)

April 28: On interest rate policies (II) (pdf 105 Kb)

May 5: On the "New-Keynesian" model of monetary policy analysis (I) (pdf 80 Kb)

May 10: On the "New-Keynesian" model of monetary policy analysis (II) (pdf 90 Kb) (minor typos corrected May 12)

May 12: On monetary and fiscal policy in a low-inflation environment (I) (pdf 200 Kb)