George Hall
Off. hrs. |
ghall@econ.yale.edu |
Chris Sims
Off. hrs. |
sims@princeton.edu |
Naohito Abe
#38, 37HH 432-3559 Off. hrs. M3-4, Rm.B10,28HH |
naohito.abe@yale.edu |
Thomas Lubik
#23, 37HH 432-3563 Off. hrs. M10:30-11:30 |
thomas.lubik@yale.edu |
Previous Year's Course Materials
5/12/98
Suggested
answers for the first two problems of the final.
Online
copy of the exam itself. Note that
on some printers minus signs in subscripts and superscripts do not print
for the last three questions on the exam in this version. There should
be no problems in screen viewing, though.
5/14/98
I have made some corrections to the suggested answers for the last
three problems of the final. The changes are on page 5 (problem 2). You
can obtain the corrected version by clicking here.
Hardcopies will be available from Diane.
4/25/98
Notes
on a sticky-price model
Hard copy probably available from Diane by Monday, 4/27
4/23/98
Some practice problems for the final and the comps are available by
clicking here.
Hardcopies should be available from Diane by the end of the day.
4/18/98
My lectures on policy games will follow chapters 3 and 4 of Thomas
Sargent's, Marshall Lectures The
Conquest of American Inflation: Ideas or Regressions? . This is a large
document (over 100 pages). Since we are only covering two chapters, you
may wish to just photocopy the two relevent chapters. A paper version is
available from Diane Bowman. We will be going over "stripped down" versions
of Kydland and Prescott (1977), Barro and Gordon (1983) and Abreu, Pearce,
and Stacchetti (1990). Copies of these papers are also available from Diane
Bowman.
4/17/98: Notes. Discrete time stochastic model of price determination without money. Paper version available from Diane Bowman in the main department office at 28HH. This version contains a minor correction, in equation (16), compared to the original version posted 4/13.
4/8/98: Exercise
due 4/15/98
4/29/98:
Answer to problem 1 of 4/15/98 exercise
4/8/98:
New and improved random
Lagrange multiplier notes, including (finally) a careful statement
and proof of a correct transversality condition.
4/1/98:
Solutions to the Bewley models problem set are here
3/24/98:
On 3/25/98 we will discuss Krusell and Smith's paper "Income
and Wealth Heterogeneity in the Macroeconomy."
You may get the paper from Anthony Smith's homepage
3/23/98:
Suggested answers to the Levhari-Srinivasan problem are here(2/23/98)
Suggested answers to the second dynamic programming problem set are here(2/21/98)
Notes
on Decentralizing with Asset Markets: Firms and Owners
Asset
Market Equilibrium Exercise Optional.
To
be graded by 3/4 if handed in by 3/2.
Notes
on Decentralizing with Asset Markets: Insurance. For
lecture 2/15
These notes
have been updated to expand an obscure passage around equations (6)-(10).
4/19/98
Exercise
solving linearized growth model due
Monday, 2/9/98. Important correction, adding a missing equation,
posted 2/1/98.
Answers
to the linearized growth model exercise. (2/25/98)
Lecture Notes on Deterministic Dynamic Programming(1/27/98)
January 20: The paper on solving linear rational expectations models (98k pdf) has been updated. The version reached via the reading list before 1/20/98, 9PM, has a correct treatment of discrete time models, but does not discuss the simple Jordan decomposition special case that will be most helpful on the exercise below.
Two typos in the problem set below have been corrected
1/23, 1:25PM. Changes are marked in red, and are small enough that
you will probably want simply to mark them on your existing copy, not print
it out again. The errors were that A as well as C should
be maximized over in the main problem statement, and that the two cases
to examine were (2) binding, (3) not, and (3) binding, (2) not.
Exercise
on solving a linear rational expectations model. Due Wednesday,
1/28.
Answer
to linear rational expectations exercise.
Posted 2/11.
January 20: The two sets
of notes below have been significantly updated. Most changes in them
are marked in red.
Random
Lagrange Multipliers, 1/20
Random
Lagrange Multipliers: Examples and Exercise due 1/21
Answers
to the exercise above. Posted
1/30/98. The fonts in this answer may not display legibly on a computer
screen unless you magnify the page as much as possible. Have your
Acrobat reader fill the screen, and use the "View|Fit Visible" option.
There should be no problem with readability of a printed version.