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CURSO:Macroeconomia Avanzada
TRADUCCION:Advanced Macroeconomics
SIGLA:EAE3201
CREDITOS:10
MODULOS:2
CARACTER:Optativo
TIPO:Catedra
CALIFICACION:Estandar
DISCIPLINA:Economia

I.DESCRIPCIÓN DEL CURSO

Este curso desarrolla los aspectos centrales de lo que se ha denominado como la macroeconomia moderna. A la vez se pretende familiarizar con los modelos sobre los cuales esta se ha estructurado.

II.OBJETIVOS DE APRENDIZAJE
1.Analizar problemas macroeconomicos aplicando un marco conceptual claro.
2.Comprender los grandes debates, sus protagonistas y las consecuencias de la politica economicaDesarrollar una cultura importante del tema, que le permita situar con claridad los grandes debates, sus protagonistas y las consecuencias de politica economica.

III.CONTENIDOS

1.Metodologia

2.Crecimiento Economico
2.1.Modelo Neoclasico
2.2.Modelos de Crecimiento Endogeno

3.Teoria Real de las Fluctuaciones Economicas

4.Dinero en el Equilibrio General

5.Modelos Macroeconomicos Tradicionales

6.Efectos de Corto Plazo de la Politica Monetaria

7.Nueva Sintesis Keynesiana

8.Algo de Evidencia

9.Politica Monetaria y Fiscal

10.Crisis Financieras
10.1 Macroeconomia de la Banca
10.2 Crisis de Liquidez
10.3 La Gran Depresion
10.4 La Crisis Financiera 2007-2009


III.METODOLOGIA PARA EL APRENDIZAJE

-Clases lectivas
-Analisis Bibliografico
-Tareas
-Trabajo de investigacion.

IV.EVALUACION DE APRENDIZAJES

-Pruebas (50%)
-Examen (30%)
-Trabajos y/o tareas (20%)

VI.BIBLIOGRAFIA

Minima:
M. Friedman (1953) ?The Methodology of Positive Economics? en M. Friedman, Essays in Positive Economics.

R. Lucas (1980), ?Methods and Problems in Business Cycle Theory?, Journal of Money, Credit and Banking, November, Part 2.

E. C. Prescott (2004), ?The Transformation of Macroeconomic Policy and Research?, Nobel Lecture, The Region Annual Report. (Tambien en http://www.nobelprize.org/nobelprizes/economic sciences/laureates/2004/prescott-lecture.html)

B. Snowdon y H. R.Vane (2006), ?Interview with Milton Friedman? en su Modern Macroeconomics: Its Origins, Development and Current State, Edward Elgar Publishing Inc.

Ch. Jones y P. Romer (2009)?The New Kaldor Facts: Ideas, Institutions, Population, and Human Capital?, Working Paper 15094 NBER, June.

R. Lucas Jr. (1993), ?Making a Miracle?, Econometrica,Vol 61,N?2.

M. Kremer (1993),?The O-Ring Theory of Economic Development?, The Quarterly Journal of Economics, August.

P.M. Romer (1990), ?Endogenous Technological Change?, Journal of Political Economy 98, Part I,

E. Prescott, ?A Theory Ahead of Business Cycle Measurement? Quarterly Review, Federal Reserve Bank of Minneapolis, Fall 1986. (incluidos los comentarios de L. H. Summers*, ?y la replica de Prescott.)

CI. Plosser, ?Understanding Real Business Cycle?, Journal of Economic Perspectives, Vol.3, N?3, 1989.( Incluida la replica de G.N. Mankiw , que aparece en el mismo articulo)

S.T. Rebelo, ?Real Business Cycle Models: Past, Present and Future?, Working Paper 11401, June 2005

Blanchard y Fischer, op.cit. cap.4 pp.154-168; 188-193

M. Friedman y A.J. Schwartz (1986), ?Has Government Any Role in Money?? Journal of Monetary Economics 17, p. 37-62.

M. Friedman (1971), A Theoretical Framework for Monetary Analysis, pags. 1-61.

J. Tobin (1975), ?Keynesian Models of Recession and Depression?, American Economic Review, May

R. Lucas (1977), ?Understanding Business Cycles?, en su Studies in Business Cycle

J. Taylor (1984),?Aggregate Dynamics and Staggered Contracts", Journal of Political Economy, 1980, Vol 88, N?1

L. Ball y N. G. Mankiw (1994), ?A Sticky-price manifesto?, Carnegie Rochester Series on Public Policy 41(1994), incluidos los comentarios de R. Lucas.

R. Clarida, J. Gali y M. Gertler, ?The Science of Monetary Policy: A New Keynesian Perspective?, NBER Working Paper 7147, may 1999 (www.nber.org)

M. Woodford (2003) Interest &Prices: Foundations of a Theory of Monetary Policy, Princeton University Press, Cap.1.

E. Nelson (2008), ?Why Money Growth Determines Inflation in the Long Run: Answering the Woodford Critique?, Journal of Money, Credit and Banking, Vol.40, N?8, December.

G. McCandless Jr. y W. Weber (1995), ?Some Monetary Facts?, Federal Reserve of Minneapolis Quarterly Review, Summer.

P. Teles y H.Uhlig* (2010), ?Is Quantity Theory Still Alive??, Working Paper 16393, NBER.

T.J. Sargent, ?Stopping Moderate Inflations: The Methods of Poincare and Thatcher??, en su Rational Expectations and Inflation, Harper&Row, Publishers, New York, 1986

M. Bils y P.J. Klenow (2004),?Some Evidence on the Importance of Sticky Prices?, Journal of Political Economy, Vol. 112, n?5, October.

J. Gali y L.Gambetti (2009), ?On the Sources of the Great Moderation?, American Economic Journal, Macroeconomics, Vol.1, N?1, January

T.J. Sargent y N.Wallace (1986) ?Some Unpleasant Monetarist Arithmetic? en T.J.Sargent Rational Expectations and Inflation, Harper&Row, Publishers,New York, 1986

J.H. Cochrane (2010) ?Understanding Policy in the Great Recession: Some Unpleasant Fiscal Arithmetic?, Working Paper 16087, NBER, June

C. Sims (2013), ?Paper Money?, American Economic Review 20.

R. Reis (2013), ?The Mystique Surrounding the Central Bank?s Balance Sheet, Applied to the European Crisis?, American Economic Review, May.

R. Lucas y N. Stokey (2011), ?Liquidity Crises: Understanding sources and limiting consequences. A theoretical framework, The Region, Federal Reserve of Minneapolis June

E. Mendoza (2010), ?Sudden Stops, financial Crises, and Leverage?, American Economic Review, December.

M. Friedman y Anna J. Schwartz, ?The Great Contraction, 1929-33?, A Monetary History of the United States,1867- 1960, Chapter 7.

T. Adrian y H.S. Shin (2011), ?Financial intermediaries and Monetary Economics?. En B.Friedmand and M.Woodford (Eds.), Handbook in Economics: Monetary Economics, Vol. 3A

R. Hall (2010) ?Why does the economy fall to pieces after a Financial Crises?? The Journal of Economic Perspectives, Fall.

M. Woodford (2010)?Financial Intermediation and Macroeconomic Analysis?, The Journal of Economic Perspectives, Fall.

R. Caballero (2010) ?Macroeconomics after the Crises: Time to Deal with the Pretense of Knowledge Syndrome?. The Journal of Economic Perspectives, Fall.


Complementaria:
R. Lucas (1987) Models of Business Cycles, Cap. II

R. Barro y X. Sala i Martin, Economic Growth, capts. 1 y 2.

D. Acemoglu (2009), Introduction to Modern??, capts.1 y 4.

J.P. Benassy (2011), Macroeconomic Theory , cap. 7

R. Lucas Jr., (2009) ?Trade and the Diffusion of the Industrial Revolution?, American Economic Journal, Macroeconomics, January, Vol.1, Number 1.

W. Easterly (2002), The Elusive Quest for Growth: Economists? Adventures and Misadventures in the Tropics, The MIT Press. Caps. 3 y 8

B. McCallum, ?Real Business Cycle Models?, en R. Barro (Ed), Modern Business Cycle Theory, Harvard University Press. 1989

Walsh, Cap. 5, ptos. 5.1 y 5.2

L. Ball, N. G. Mankiw y D. Romer (1988), ?The New Keynesian Economics and the Output Inflation Trade- Off?, Brookings Papers on Economic Activity, Vol. 1, 1988.

S. Freeman y F. Kydland (2000)?Monetary Aggregates and Output?, American Economic Review 90,

E. Mc Grattan y E. Prescott (2000), ?Is the Stock Market Overvalued??, Federal Reserve Bank of Minneapolis, Quarterly Review, Vol. 24, N?4, Fall.

J.P. Benassy (2011), Macroeconomic Theory , cap. 10

J.P. Benassy (2011), Macroeconomic Theory, cap. 11.

Walsh, cap. 2

M. Wickens, op.cit. cap. 8.

Benassy (2011), cap. 12 y 13

T.J. Sargent (1979), Macroeconomic Theory, Caps. 1 y 2., Academic Press

R. Clarida, J. Gali y M.Gertler (2000), ?Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory?, The Quarterly Journal of Economics, February

McCallum (1981), ?Price Level Determinacy With an Interest Rate Policy Rule and Rational Expectations?, Journal of Monetary Economics 8, 1981.

A. Greenspan (2003) ?Monetary Policy Under Uncertainty; Remarks?; Jackson Hole, August. Federal Reserve Web Site (www.federalreserve.gov/boarddocs/speeches/2003/)

B. McCallum (2001), ?Should Monetary Policy Respond Strongly to Output Gaps??, American Economic Review, Papers and Proceedings, May.

C. Walsh (2003), Monetary Theory and Policy, Caps. 10 y 11

F. Rosende (2008) ?La Conquista de la Inflacion. Revision y Analisis de la Literatura Reciente?, Estudios Publicos N?109, Verano

L .J. Christiano, M. Eichembaum y C. L. Evans, ?Monetary Policy: What Have we Learned and to What End??, Handbook of Macroeconomics, John B. Taylor y Michael Woodford (Eds),.Volume 1A(1999)

C.J. Walsh, op.cit. Cap. 1.

J. Boivin, M. Giannoni, I. Mihov, ?Sticky Prices and Monetary Policy: Evidence From Disaggregated Data?, NBER, Working Paper N?12824. (2007)

J.J. Rotemberg y M.Woodford (1999). ?The Cyclical Behavior of Prices and Costs? en J. B.Taylor y M. Woodford (Eds.), Handbook in Macroeconomics, Volume 1-B, North Holland,

J.H. Stock y M.W. Watson (2003), ?Has the Business Cycle Changed? Evidence and Explanations?, Federal Reserve Bank of Kansas City, Jackson Hole Symposium, August

E. Leeper (2010) ?Monetary Science, Fiscal Alquemy? Working Paper 16087, NBER, October

D. Diamond y P. Dybvig (1983), ?Bank Runs, deposit Insurance, and liquidity?, Journal of Political Economy 91

M. D. Bordo (2010), ?A Historical Perspective on the Crisis of 2007-08? en R. A. Alfaro (Ed.) Financial Stability, Monetary Policy, and Central Banking, Banco Central de Chile.

D. Diamond y R. Rajan (2009) ?The Credit Crisis: Conjectures About Causes and Remedies?, Working Paper 14739 NBER, www.nber.org/papers/w14739

A. Krishnamurthy (2010), ?Amplification Mechanism in Liquidity Crises?, American Economic Journal, Macroeconomics, Vol. 2, N?3

J.B. Taylor (2009) ?The Financial Crisis and Policy Responses: An Empirical Analysis of What Went Wrong? Working Paper 14631 NBER www.nber.org/papers/w14631

J.B. Taylor (2009),?A Black Swan in the Money Market? ?, American Economic Journal, Macroeconomics, January, Vol.1, Number 1.

F. Rosende (2014), El Gran Descalabro, La Macroeconomia de la Primera Crisis Financiera del Siglo XXI, Ediciones UC

L. Ohanian (2010) ?The Economic Crises from a Neoclassical Perspective? The Journal of Economic Perspectives, Fall.

PONTIFICIA UNIVERSIDAD CATOLICA DE CHILE
INSTITUTO DE ECONOMIA / ABRIL 2018