Advanced Macroeconomics

Февраль 11, 2021

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Advanced Macroeconomics

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2. Economic growth: models without microeconomic foundations – models with exogenous saving rate. Lucas critique: why do
3. Microfounded macroeconomic models (2-period models, overlapping generations (OLG) models, Ramsey models). Applications: current account balance of
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Слайд 2

Economic growth: models without microeconomic foundations – models with exogenous saving rate.
Lucas

Economic growth: models without microeconomic foundations – models with exogenous saving rate.

critique: why do macroeconomic models need microeconomic foundations, i.e., explicit modeling of optimization by economic agents.

Semester I: Long Run

Слайд 3

Microfounded macroeconomic models (2-period models, overlapping generations (OLG) models, Ramsey models).
Applications: current

Microfounded macroeconomic models (2-period models, overlapping generations (OLG) models, Ramsey models). Applications:

account balance of growing economies, distortionary taxes, social security, etc.
Microfounded models of endogenous economic growth.
Search models of the labour market.

Semester I: Long Run