Lecture slides
Introductory lecture, February 1 (pdf file,
60 Kb)
On empirics, February 6 (pdf
file, 123 Kb).
On the Tobin effect and basic MIU model,
February 8 (pdf file, 108 Kb).
On welfare effects of inflation and a
stochastic MIU model, February 13 (pdf file, 102 Kb).
On shopping time models and CIA models
(under certainty), February 15 (pdf file, 91 Kb)
On CIA models (stochastic) and real costs
of transactions, February 20 (pdf file, 78 Kb)
On public budget accounting and
seigniorage, February 22 (pdf file, 140 Kb)
On optimal taxation and the Friedman rule, February 27 (pdf file, 89 Kb)
On incomplete nominal adjustment and
imperfect information, March 6 (pdf file, 86 Kb)
On incomplete nominal adjustment and sticky prices and wages, March 8
(pdf file, 83 Kb)
On credibility problems, March 13
(done on March 15) (pdf
file, 86 Kb)
On delegation and independent central
banks, March 20 (pdf file, 85 Kb)
On operating procedures and
intermediate targets, March 22 (pdf file, 82 Kb)
On interest rate policies (I),
March 27 (pdf file, 76 Kb)
On interest rate policies (II), March 29
(pdf file, 84 Kb)
On the New-Keynesian model of monetary
policy (I), April 3 (also used April 10) (pdf file, 95 Kb)
On the New-Keynesian model of monetary
policy (II): Committment vs. discretion, April 17 (pdf file, 83 Kb)
On delegation solutions to credibility
problems in a New-Keynesian model, April 19 (pdf file, 127 Kb)
On open-economy aspects (I): The
Obstfeld-Rogoff model under flexible prices, April 24 (pdf file, 92 Kb)
On open-economy aspects (II): The O-R
model under sticky prices, and on policy coordination, April 26 (also to be
used May 3) (pdf file,
93 Kb)
On Inflation Targeting (I), May 3 (pdf
file, 71 Kb)
On Inflation Targeting (II), May 15 (pdf
file, 72 Kb)
On the exam, May 22 (pdf file, 65
Kb)
List of typos in slides, updated April 17 (pdf
file, 79 Kb)