Readings in Macroeconomic Theory

Following is a sample reading list. We encourage students to suggest papers of their own interest. Kaplan, Moll, and Violante (2018) “Monetary Policy According to HANK” American Economic Review, 108(3), 697-743. Brunnermeuer and Koby (2019) “The Reversal Interest Rate” Working Paper Alvarez and Lippi (2022) “The Analytic Theory of a Monetary Shock” Econometrica, Vol. 90, No. 4, 1655–1680 Alvarez, Lippi, and Oskolkov (2022) “The Macroeconomics of Sticky Prices with Generalized Hazard Functions” Quarterly Journal of Economics, 989–1038 Brunnermeier and Sannikov (2016) “The I theory of money” NBER Working Paper 22533 Aguiar and Amador (2020) “Self-Fulfilling Debt Dilution: Maturity and Multiplicity in Debt Models” American Economic Review, 110(9): 2783–2818 Baqaee and Farhi (2021) “Entry vs. Rents: Aggregation with Economies of Scale,” NBER Working Paper No. 27140 Flynn, Patterson, and Sturm (2021) "Fiscal policy in a networked economy," NBER Working Paper Giovanni, Levchenko, and Mejean (2022) "Foreign shocks as granular fluctuations," NBER Working Paper No. 28123 Liu and Tsyvinski (2020) "Dynamical Structure and Spectral Properties of Input-Output Networks," NBER Working Paper No. 28178 Mian, Straub and Sufi (2021) "The Saving Glut of the Rich," NBER Working Paper No. 26941 Garleanu and Panageas (2015) "Young, Old, Conservative, and Bold: The Implications of Heterogeneity and Finite Lives for Asset Pricing," Journal of Political Economy, vol. 123(3):670-685

Presentations of academic papers and their own work by students

presentation and/or term paper

No textbooks are required

References will be distributed at the first lecture

Perquisites: macroeconomics I and II