Econ 446 - Spring 2024

Syllabus

-  Course Description and Outline

Textbook
 
-  "International Macroeconomics" by Stephanie Schmitt-Grohe, Martin Uribe, and Michael Woodford

Problem Sets

Problem Set 1  -- Due January 26
Midterm Exam  -- Due February 16 (Take Home)
Problem Set 2  --  Due April 12
Final Exam       --  Due April 19 (Take Home)

Old Papers, Problem Sets and Exams

Problem Set 1  -  Due February 3
Midterm Exam  -  Due March 3 (Take Home)
Problem Set 2  -  Due April 7
Covid and the Canadian Dollar
High Frequency Trading in the FX Market
Internationalization of the RMB
Problem Set 1  -  Due January 29
Midterm Exam  - Due February 26 (Take Home)
Problem Set 2  -  Due April 16

Readings and Extra Notes

-  Data Plots
-  "China, New Financial Superpower" online post by Brad Setser, 8-3-09
-  "Time for China, Germany, the Netherlands, and Korea to Step Up",  online post by Brad Setser, 1-9-19
-  "Will China's Currency Hit a Wall",  online post by Brad Setser, 1-17-19
-  "Birth Pains" from The Economist, 5-14-09
- "It's Been a Privilege" from The Economist, 2-11-17
- "The Mighty Dollar" from The Economist, 12-3-16
-  "America's Dark Materials" from The Economist, 1-21-06
- "Lies, Damned Lies and...." from The Economist, 2-25-17
- "The German Problem" from The Economist, 7-8-17
-  "A Topsy-Turvy World" from The Economist, 9-14-06
-  Gourinchas and Rey (2007),  "International Financial Adjustment",  Journal of Political Economy
-  Ventura (2002),  "Towards a Theory of Current Accounts",  Max Corden Lecture
-  Lucas (1990),  "Why Doesn't Capital Flow from Rich to Poor Countries?"  American Economic Review
-  Gourinchas and Jeanne (2012), "Capital Flows to Developing Countries: The Allocation Puzzle",  Review of Economic Studies
-  "Understanding Trends in  Foreign Exchange Rates" FRBSF Weekly Letter, 6-9-95
-  Obstfeld (1996),  "Models of Currency Crises with Self-Fulfilling Features",  European Economic Review
- "Hot and Sour" from The Economist, 7-1-17
- Song, Storesletten, and Zilibotti (2011), "Growing Like China",  American Economic Review
- "Taking a Pounding" from The Economist, 10-3-15
- "Fight or Flight" from The Economist, 1-16-16
- "Tricky Troika" from The Economist, 10-14-17
- "Biting at the Champs" from The Economist, 3-4-17
- Obstfeld and Taylor (2017), "International Monetary Relations: Taking Finance Seriously",  Journal of Economic Perspectives
- "Two Out of Three Ain't Bad" from The Economist, 8-27-16
- Mankiw (2010), "The Trilemma of International Finance"
-  "Lectures in Open Economy Macroeconomics", manuscript of a more advanced text by Martin Uribe
-  "Asia and the Global Financial Crisis", speech by Ben Bernanke at SF Fed Conference, 10-19-09
-  "World Out of Balance" by Paul Krugman,  New York Times , 11-16-09
-  "Analytical Afterthoughts on the Asian Crisis" by Paul Krugman
-  "Essays on China's One Child Policy",  Ph.D thesis by Zoey Chen
-  Lei, Lu, and Kasa (2022),  "`Wait and See' or `Fear of Floating'?",  Macroeconomic Dynamics
-  Caballero, Farhi, and Gourinchas (2017),  "The Safe Assets Shortage Conundrum",  Journal of Economic Perspectives
-  Schilling, Fernandez-Villaverde, and Uhlig (2024),  "Central Bank Digital Currency: When Price and Bank Stability Collide",  Journal of Monetary Economics
-  Itskhoki and Mukhin (2021),  "Exchange Rate Disconnect in General Equilibrium",  Journal of Political Economy

Lecture Slides

Lecture 1
Lecture 2
Lecture 3
Lecture 4
Lecture 5    (Slides for 2-country model)
Lecture 6
Lecture 7
Lecture 8   (Slides for Stochastic Infinite Horizon Models)
Lecture Slides on Valuation Effects and Investment Risk
Lecture 9
Lecture 10
Lecture 13
Lecture 14
Lecture 15
Lecture 16
Lecture 17
Lecture 18
Lecture 19
Slides on "Why Doesn't Capital Flow from Rich to Poor Countries?"
Slides on "Capital Flows to Developing Countries: The Allocation Puzzle"
Slides on "Growing Like China"
Slides on 3rd Generation Currency Crisis Models
Slides on "International Monetary Relations: Taking Finance Seriously"
Slides on "The Safe Assets Shortage Conundrum"
Slides on the Diamond-Dybvig Model
Lecture 20
Lecture 23
Topics for Final (2019)

OLD Problem Sets

Problem Set 1 --  (Due January 23)
Problem Set 2 --  (Due March 4)

Old Exams

-  Midterm (Spring 2002)
-  Midterm (Fall 2009)
-  Midterm (Spring 2018)
-  Final (Spring 2018)
-  Final (Spring 2002)
-  Final (Spring 2009)

Old Problem Sets

Problem Set 1  --  (Due January 29)
Problem Set 2  --  (Due February 21)
Problem Set 1  (due September 25)
Problem Set 2  (due October 14)
Problem Set 3  (due December 4)