Econ 229 Notes L/S Ch.10 - P.1
N households, infinitely-lived. No uncertainty. (Simplify: N=1; all variables per-capita.)
Exogenous series of incomes yt; exogenous series of tax payments t.
Exogenous interest rate; R=1+i
(204A notes on OG)-P.1
Diamond economy with fiat money as store of value Money stock is distributed to the old at time t=1: M units pt = Value of money in terms of goods = purchasing power (if money is not valued, means pt = 0; inverse of price level) Mpt
Econ 229 Notes Walsh Ch.4 - P.1
Econ 229 Handout on Walshs Ch.4
Intertemporal budget constraint with emphasize on money and seignorage.
Distinguish nominal, real, and growth-adjusted variables; identities and constraints.
Econ 229 Handout on time series econometrics
- Primer on time series econometrics relevant for empirical macroeconomics
- Distinction between unit root and trend-stationary series; notion of cointegration.
Background reading (not re
Macroeconomic Theory and Policy Econ 229
Prof. Henni ng Bohn
The course ex amines five topics in the area o f fiscal and monetary policy: (i) budget constraints and
government solvency; (ii) optimal policy; (iii) intergenerational transfers and demographi