Romer, David (1996), Advanced Macroeconomics, McGraw-Hill.
Blanchard, Olivier Jean and Stanley Fischer (1989), Lectures in Macroeconomics, MIT Press
Maurice Obstfeld and Kenneth Rogoff, "Foundations of International macroeconomics",
Students interested in macroeconomics as a field are encouraged to purchase some of these. Each book covers some of the relevant material, and the reading list highlights places where the treatment most closely matches that of the lectures.
Course Outline and Reading List
Consumption and Savings
Blanchard and Fischer, Section 6.2 and 10.1
Romer, Chapter 7
Modigliani, Franco (1986), “Life Cycle, Individual Thrift, and the Wealth of Nations,” American Economic Review, 76, pp.297 – 313
Expectations and Economic Dynamics
Nerlove, Mark (1958), “Adaptive Expectations and Cobweb Phenomena”, Quarterly Journal of Economics, 72, pp. 227 – 240.
Muth, John (1961), “Rational Expectations and the Theory of Price Movements”, Econometrica 29, pp. 315 – 335.
Blanchard and Fischer, Section 5.1, Appendix to Chapter 5, Section 10.4
Barksy, Robert and J. Bradford De Long (1993), “Why Does the Stock Market Fluctuate,” The Quarterly Journal of Economics, 108, pp. 291-311
Techniques:
Blanchard, O., and C. M. Kahn (1980) “The Solution of Linear Difference Models under Rational Expectations”, Econometrica, 48, 1305-1313.
Sims, Chris (2000), “Solving Linear Rational Expectations Models”, unpublished manuscript, Princeton University.
Real Business Cycle Theory
Books: Handbook of Macroeconomics
Plosser, Charles (1989), “Understanding Real Business Cycles”, Journal of Economic Perspectives.
King, Robert, Charles Plosser and Sergio Rebelo (1988), “Production, Growth and Business Cycles: I. The Basic Neoclassical Growth Model”, Journal of Monetary Economics, 21, pp. 195-232.
Kydland, Finn and Edward Prescott (1982), “Time to Build and Economic Fluctuations,” Econometrica, 50, pp. 1435-70.
Gali, Jordi (1999), “Technology, Employment and the Business Cycle: Do Technology Shocks Explain the Business Cycle,” American Economic Review, 249, pp.271-
Gali, Jordi and Pau Rabanal (2004), “Technology Shocks and Aggregate Fluctuations: How Well Does the RBC Model Fit Postwar U.S. Data?,” NBER Macroeconomics Annual.
Open economy macroeconomics
Maurice Obstfeld and Kenneth Rogoff, "Foundations of International macroeconomics", 1996. Ch 1, 2, 3
Ju, Jiandong, Kang Shi, and Wei, Shang-Jin, 2014, "On the Connection between Intra-temporal and Intertemporal Trades", Journal of International Economics, vol.92, s36-51
Chamon, Marcos, and Eswar Prasad, 2010, "Why Are Saving Rates of Urban Households in China Rising?" American Economic Journal -- Macroeconomics, 2 (1): 93-130.
Du, Qingyuan, and Wei, Shang-Jin, 2013, "A Theory of Competitive Savings Motive", Journal of International Economics, vol. 91(2), pages 275-289
Wei, Shang-Jin, and Xiaobo Zhang, 2011, "The Competitive Saving Motive: Evidence from Rising Sex Ratios and Savings Rates in China," Journal of Political Economy, 119(3): 511-564.
Du, Qingyuan, Wei, Shang-Jin and Peichu, Xie, 2013, "Roads and the Real Exchange Rate", NBER working paper w19291
