In the Name of Allah s1

In the Name of Allah Sharif University of Technology Department of Economics Macroeconomics 2- Reading List

Introduction * Hall and Jones 1999 * DLS Ch 2,3,6 + The Ponzi Legacy * What Do We Know about Macroeconomics that Fisher and Wicksell did not by Blanchard, 2000 * Economics and Reality by Uhlig, 2010 + Development Accounting by Hsieh and Klenow, 2010 Real Business Cycle * Barro Ch 6,7,8 * DLS Ch 9 + Theory ahead of business cycle measurement by Prescott 1986 * Martin Ellison lecture notes chapter 1,2 * RBC Models - A Toy Example by Ozdagli 2006 * Calibrated models by Cooley 1997 * Business Cycles: Real Facts and a Monetary Myth by Kydland and Prescott 1990. (Optional) Practicing Dynare by Sargent 2010 (Optional) Time to build and Aggregate fluctuations by Kydland Prescott 1982 (Optional) Gali (Monetary Policy, Inﬂation, and the Business Cycle, Chapters 1,2)

Fiscal Policy * Barro Ch 12,13,14 * DLS Ch 12,13,14 + Sargent 10, 11_1-11_6 + Government Spending Is No Free Lunch by Barro 2010 + Aggregate Implications of Labor Market Distortions by Mulligan 2009 + Fiscal Policy and Economic Growth by Rebelo and Easterly 1993 + Simple Analytics and empirics of the government spending multiplier by Mulligan + Capital Taxation and Accumulation in a Life Cycle Growth Model by Summers + Understanding the impact of fiscal policy by Uhlig + What are the effects of fiscal policy shocks by Uhlig + Fiscal Stimulus by Cochrane

+ The Laffer Curve Revisited by Uhlig

* Why Do Americans Work So Much More Than Europeans by Prescott 2004

+ The Impact of the 2008 Tax Rebates on Consumer Spending by Broda + Social Security by Krugman + A Political Case for Social Security Reform by Becker + Fiscal policy and economic growth, An empirical investigation by William Easterly and Sergio Rebelo (1993), + Long-Run Policy Analysis and Long-Run Growth by Sergio Rebelo (1991), + Why Do Developing Countries Tax So Little by Besley, 2014 + Fiscal policy and economic growth by Easterly and Rebelo,1993 (Optional) Stop Hammering Investors (Optional) Effects of Privatization and Ownership in Transition Economies Monetary economics * Barro Ch 10,11,15,16 * DLS Ch 4,5,8,18,19 * The ends of four big inflations by Sargent and Wallace. * Some unpleasant monetarist arithmetic by Sargent and Wallace * Some Evidence on the Importance of Sticky Prices by Bils and klenow, 2004 * Inflation and Welfare by Lucas, 2000 * Monetary Neutrality by Lucas, 1996 * Evidence on Money, inflation and Interest rates by Lucas, 2010 * Some Monetary facts by McCandless and Weber, 1995 * Benati 2007, "Long-Run Evidence on Money Growth and Inflation". * Uhlig and Teles 2013, "Is Quantity Theory Still Alive?" * Learning from Argentina’s Crisis * The case for flexible exchange rates, by Friedman, 1953 * The Mirage of Fixed Exchange Rates by Obstfeld and Rogoff , 1995 * A Century of US Central Banking by Bernanke, 2013 * An Interview with Paul Volcker * WATCH: How to Cure Inflation, by Milton Friedman * Walsh, C., (2010) Monetary Theory and Policy, Chapter 7. + Romer, D., (2012) Advanced Macroeconomics, Chapter 11. * Blanchard, O., and S. Fischer, (1993) Lectures on Macroeconomics, Chapter4.6, 4.7, 10.2, 11. * Kydland, F., and E. Prescott, (1977) “Rules Rather than Discretion: The Inconsistency of Optimal Rules”, Journal of Political Economy, Vol. 87, pp. 473-492. * Barro, R. J., and R. Gordon, (1983) “Rules, Discretion and Reputation in a Model of Monetary Policy”, Journal of Monetary Economics, Vol. 12, pp. 101-121. * Fischer, S., (1995) “Central Bank Independence Revisted”, American Economic Review, Vol. 85. No. 2, pp. 201-206. * Alesina, A., and R. Gatti (1995) “Independent Central Banks: Low Inflation at No Cost?”,American Economic Review, Vol. 85 No. 2, pp. 196-200. * McCallum, B. T., (1995) “Two Fallacies Concerning Central-Bank Independence”, American Economic Review, Vol. 85, No.2, pp. 207-211 * Walsh. C. E., (1995) “Optimal Contracts for Central Bankers”, American Economic Review,Vol. 85, pp. 150-167. * Turnovsky, S. J., (1983) “Wage indexation and exchange market intervention in a small open economy”, Canadian Journal of Economics, pp. 574-592. * U.S. Monetary Policy, An Introduction + Taylor, 1993, “Discretion versus policy rules in Practice” + Inflation Targeting by Svensson. + Schmidt-Hebbel,K-Inflation Targeting twenty years on

+ Schmidt-Hebbel,K. Mishkin.F- Does Inflation Targeting make a difference? Economic Growth + Romer, D., (2006) Advanced Macroeconomics, Chapter 3. * Barro, R. J., and X. Sala-i-Martin, (2004) Economic growth, Chapter 4. + Acemoglu, D., (2007) Introduction to Modern Growth Theory, Chapters 4, 22 and 23. * Barro, R. J., (1990) Government spending in a simple model of endogenous growth, Journal of Political Economy, Vol. 98, pp. 103-125 * Lucas 1988 "On the mechanics of Economic Development" . * Romer 1990 "Endogenous Technological Change” + Dani Rodrick “Growth Strategies” + Making a miracle by Lucas, 1993 * DLS Ch 11 + Sargent Ch 11_9