Instructors: Uros Herman
Event type: Lecture
Displayed in timetable as: Keynesian Eco
Hours per week: 2
Language of instruction: Englisch
Min. | Max. participants: - | -
Requirements / organisational issues: This course covers the dynamic stochastic general equilibrium (DSGE) models frequently used in modern macroeconomics and labelled as „New Keynesian“ models. The basic model equations including nominal frictions such as price stickiness are derived carefully, and model solution techniques are discussed. Numerical solutions of the models are obtained and the models are simulated using Dynare in MATLAB. Extensions to the core model that are treated in class include an analysis of optimal monetary policy, discussion of discretion vs. commitment and a model including a financial accelerator.