UTDT Maestra en Economa Aplicada (MECAP) Tercer Trimestre de 2013

Poltica Monetaria y Fiscal

Profesor: Francisco J. Ciocchini (fjc120@gmail.com)
Clases: Lunes, de 19:15 a 22:00 hs. Aula A110.
Temario
Tema 1. Inflacin: modelo monetario bsico.
Tema 2. Poltica Monetaria, Poltica Fiscal e Inflacin.
Tema 3. Tipo de Cambio e Inflacin.
Tema 4. Poltica Monetaria y Teora Cuantitativa del Dinero.
Tema 5. Reglas vs. Discrecin.
Tema 6. Modelo Neokeynesiano Bsico
Tema 7. Tipos de Cambio Duales
Tema 8. Ms sobre Tipos de Cambio Duales
Tema 9. Poltica Monetaria y Poltica Fiscal ptimas
Tema 10. Crisis de Balanza de Pagos
Exmenes
Se tomarn dos exmenes. Uno ser take home, a mediados del curso. El otro se tomar al final del curso, en
la Universidad, y ser escrito.
Nota del Curso
La nota final del curso ser un promedio ponderado entre los dos exmenes (40% el primero y 60% el segundo).
Bibliografa
Tema 1
Barro, Robert. Macroeconomics, 5th edition, MIT Press, 1997. Captulos 7 y 8.
Doepke, M., Lehnert, A. and Sellgren, A. Macroeconomics, mimeo, 1999. Captulo 1.
http://faculty.wcas.northwestern.edu/~mdo738/textbook/main.pdf

Tema 2
Ljungqvist, L. and Sargent, T. (2012). Recursive Macroeconomic Theory, 3rd Edition, MIT Press. Captulo 26.

Tema 3
Schmitt-Groh, S. and Uribe, M. International Macroeconomics, mimeo. Captulo 12.
http://www.columbia.edu/~mu2166/UIM/notes.pdf

Tema 4
Nicolini, Juan Pablo (2013). Notas de clase.
Lucas, Robert (1980). Two Illustrations of the Quantity Theory of Money, American Economic Review, Vol. 70,
No. 5 (December), pp. 1005-1014.
McCandless, G. and Weber, W. (1995). Some Monetary Facts, Federal Reserve Bank of Minneapolis Quarterly
Review, Vol. 19, No. 3 (Summer), pp. 2-11.
Tema 5
Taylor, Herb (1985). Time Inconsistency: A Potential Problem form Policymakers, Business Review, Federal
Reserve Bank of Philadelphia, March-April, pp. 3-12.
Tema 6
Gal, Jordi (2008). Monetary Policy, Inflation, and the Business Cycle: An Introduction to the New Keynesian Framework,
Princeton University Press.
Mankiw, N. Gregory (2010). Macroeconomics, 4th ed., Worth Publishers. Chapter 14.
Tema 7
Ciocchini, Francisco J. (2012). A (Very Simple) Model of Foreign-Exchange Controls, mimeo.
Tema 8
Kiguel, M. and OConnell, S. (1995). Parallel Exchange Rates in Developing Countries, The World Bank
Research Observer, Vol. 10, No. 1 (February), pp. 21-52.
Werning, Ivn (2013). Una Frmula para el Dlar Blue, entrada blog focoeconomico.org
Tema 9
Barro, Robert (1979). "On the Determination of the Public Debt," Journal of Political Economy, Vol. 87, No. 5,
Part 1 (October), pp. 940-971.
Phelps, Edmund (1973). "Inflation in the Theory of Public Finance," The Swedish Journal of Economics, Vol. 75,
No. 1 (March 1973), pp. 67-82.
Tema 10
Aghion, P., Bacchetta, P. and Banerjee, A. (2000). A Simple Model of Monetary Policy and Currency Crises.
European Economic Review, Vol. 44, pp. 728-738.
Flood, R. and Garber, P. (1984). "Collapsing Exchange-Rate Regimes. Some Linear Examples," Journal of
International Economics, Vol. 17, Issues 1-2 (August), pp. 1-13.
Flood, R. and Marion, N. (2006). "Getting Shut Out of the International Capital Markets: It Doesn't Take
Much," IMF Working Paper, WP/06/144.
Obstfeld, Maurice (1996). Models of Currency Crises with Self-Fulfilling Features, European Economic Review,
Vol. 40 (April), pp. 1037-1047. Also available as NBER Working Paper 5285, October 1995.