Lecture slides

Lecture slides - all in pdf format - 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 7: Introductory lecture (with notes - a "first" and "last").


February 9: Empirics on money and the economy


March 1: Money in the utility function (start)


March 6: Welfare costs of inflation and a stochastic MIU model


March 8(15): Shopping-time models and Cash-in-advance models (certainty case)


March 20: Cash-in-advance models (stochastic case)


March 27: Incomplete nominal adjustment (I)


March 29: Incomplete nominal adjustment (II)


April 3: Incomplete nominal adjustment (III)


April 12: Monetary credibility problems


April 19: Operating procedures, optimal choice of policy instrument, and intermediate targeting


April 26: Interest-rate policies (I)


May 3: Interest-rate policies (II)


May 8: New-Keynesian models of monetary policy (I)


May 15: New-Keynesian models of monetary policy (II)


May 24: New-Keynesian models of monetary policy (III)


Typos in slides (updated May 24)