Macro 2 - Tepper School of Business
Lecture Notes:
Coming Soon
Lectures:
Coming Soon
Lectures:
- Lecture 1: We started talking about the stochastic growth model. Paper by Epstein and Zin on separating risk-aversion and IES. Paper by Yaari on separating wealth effects from risk-aversion.
- Lecture 2: We discussed stationarity and ergodicity in an example of the stochastic one-sector growth model.
- Lecture 3: We discussed general approach to recursive stochastic dynamic programming and computations. Started talking about asset prices.
- Lecture 4: Continued talking about asset prices; how to price Lucas trees; examples of rational bubbles in overlapping generations models and started talking about Equity Premium
- Lecture 5: Started talking about McCall model of search in discrete time and continuous time.
- Lecture 6: Discussed Diamond Paradox and Burdett-Judd's solution to it; talked about how it leads to endogenous price dispersion
- Lecture 7: Talked about the DMP model
- Lecture 8: Continued with DMP and talked about the Hosios condition
- Zoom
- Lecture 9: Finished efficiency properties of DMP and started talking about directed search
- Zoom
- Lecture 10: Continued talking about directed search
- Zoom
- Lecture 11: Finished discussion of directed search and its efficiency properties; Started talking about wage dispersion a la Postel-Vinay and Robin
- Lecture 12: Finished talking about PVR
- Zoom
- Lecture 13: Stochastic DP in Continuous Time
- Zoom
Problem Sets:
Problem Set 1 - [PDF]; Due March 8th.
Problem Set 1 - [PDF]; Due March 8th.
Last year's page