| Jim Whitney | Economics 131 |
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| Dates: | Apr.14-30 |
| Topic: | IVB. Open-Economy Macroeconomics |
| Readings: | Text: 13 (pp.376-378), 15 (pp.409-417), 16 (pp.430-440)
See schedule below for supplementary readings |
| Deadlines: | Apr.21: Referee reports due
Apr.28: Problem Set 6 due Apr.30: Paper due (final submission) |
| IVB. Open-economy macroeconomics | |
| Days 33: | IVB1. Basic setup |
| Readings: | Other: Mankiw, Chapter 30 (pp.659-668) |
| IVB2. Floating exchange rates and open-economy activity | |
| Day 34: | IVB2a. Basic analysis |
| Readings: | Text: 13 (pp.376-378); 16 (pp.430-433, 435-440); 17 (pp.451-455)
Other: Mankiw, Chapter 30 (pp.668-676) |
| Handouts: | Open-economy macroeconomics: the long run |
| Days 35-36: | IVB2b. Extensions and applications |
| Readings: | Text: 15 (pp.409-416) |
| Handouts: | Open-economy macroeconomics:
short-run analysis
The J-curve Devaluation case studies |
| Day 37-38: | IVB3. Open economy macroeconomics with fixed exchange rates |
| Readings: | Text: 16 (pp.421-430, 433-435) |
| Handouts: | Open-economy macroeconomics
with fixed exchange rates: short-run analysis
Fixed exchange rates: The case of Argentina |
| IVB4. Current topics in open economy macroeconomics | |
| Day 39: | IVB4a. The Asian financial crisis |
| Readings: | Krugman, Whatever
happened to the Asian miracle? (1997)
Pine, Questions and answers about the IMF (1998) Radelet and Sachs, Asia's Reemergence (1997) Fischer, In Defense of the IMF (1998) Peterson, Despite Global Woes, U.S. Economy Prospers |
| Handouts: | Interfinancial financial crises: background data |
| Day 40: | IVB4b. Fixed versus floating exchange rates: The euro, etc. |
| Readings: | Text: 16 (pp.440-443)
European Commission, EURO 1999, Convergence Report 1998 Obstfeld, The global capital market: benefactor or menace? (1998) |
| Handouts: | Maastricht and
the European Monetary System: 1991
The Euro: 1999 |