Money and finance
A.A. 2018/2019
Obiettivi formativi
The aim of the course is to provide a good knowledge and understanding of the effect of monetary policy on output and inflation relying on dynamic general equilibrium models of the economy. Competence is developed regarding: i) the monetary transmission mechanism; ii) financial frictions in credit markets; iii) the objectives and instruments of monetary policy with an emphasis on targeting regimes and policy rules; iv) operating procedures of monetary policy. Students will develop the basic skills for monetary economic analysis with special attention to the modeling of empirical results, the analysis of policy issues and their resolution.
Risultati apprendimento attesi
Non definiti
Periodo: Primo trimestre
Modalità di valutazione: Esame
Giudizio di valutazione: voto verbalizzato in trentesimi
Corso singolo
Questo insegnamento non può essere seguito come corso singolo. Puoi trovare gli insegnamenti disponibili consultando il catalogo corsi singoli.
Programma e organizzazione didattica
Edizione unica
Responsabile
Periodo
Primo trimestre
Programma
First Part - New Keynesian Monetary Economics
Empirical Evidence I: Money, Inflation and Output,
Policy Objectives and Operating Procedures
Sticky Prices and the Monetary Transmission Mechanism
Monetary Policy Analysis in New Keynesian Models
Second Part - Monetary Policy and Financial Markets
Targeting Regimes and Policy Rules
The Term Structure of Interest Rates
Asymmetric Information and Credit Rationing
Financial Frictions and the Credit Channel
Empirical Evidence I: Money, Inflation and Output,
Policy Objectives and Operating Procedures
Sticky Prices and the Monetary Transmission Mechanism
Monetary Policy Analysis in New Keynesian Models
Second Part - Monetary Policy and Financial Markets
Targeting Regimes and Policy Rules
The Term Structure of Interest Rates
Asymmetric Information and Credit Rationing
Financial Frictions and the Credit Channel
Propedeuticità
Advanced Macroeconomics.
Prerequisiti
Written exam (approximately 1 hour and 30 minutes). The exam covers all the topics presented during lectures and it consists of a series of open-ended questions which may include calculations and/or explanation and/or technical analysis. The exam aims to verify that the course objectives have been achieved; i.e. that students have learned the theory, and know how to use macroeconomic concepts to interpret economic events and data, and to analyze simple policy issues.
Metodi didattici
Lectures. Power point presentations will generally be available on the Ariel website the same day of each lecture.
Materiale di riferimento
Textbook: Walsh, Carl E., Monetary Theory and Policy (3rd edition), MIT press, 2010.
Chapters: 1, 6, 8, 10, 11.
Further readings will be indicated on the course webpage.
Chapters: 1, 6, 8, 10, 11.
Further readings will be indicated on the course webpage.
Docente/i
Ricevimento:
Mercoledì, 10:30-13:00
DEMM, via Conservatorio 7, stanza 5 secondo piano