To analyze the transmission from interest rate policies to output and inflation, many academics and central bank economists use the basic New Keynesian (NK) ‘three-equation model’ and its various extensions. A key factor responsible for the model’s success is the seeming alignment with conventional wisdom—some of the model features can be framed in the language of familiar business cycle narratives, as found in newspapers, central bank communication, or introductory macroeconomics...
Read More »“Macroeconomics II,” Bern, Fall 2024
MA course at the University of Bern. Time: Monday 10:15-12:00. Location: A-126 UniS. Uni Bern’s official course page. Course assistant: Stefano Corbellini. The course introduces Master students to modern macroeconomic theory. Building on the analysis of the consumption-saving tradeoff and on concepts from general equilibrium theory, the course covers workhorse general equilibrium models of modern macroeconomics, including the representative agent framework, the overlapping generations...
Read More »“Makroökonomie I (Macroeconomics I),” Bern, Fall 2024
BA course at the University of Bern, taught in German. Time: Monday 14:15-16:00. Location: Audimax. Uni Bern’s official course page. Course assistant: Sally Dubach. Course description: Die Vorlesung vermittelt einen ersten Einblick in die moderne Makroökonomie. Sie baut auf der Veranstaltung „Einführung in die Makroökonomie“ des Einführungsstudiums auf und betont sowohl die Mikrofundierung als auch dynamische Aspekte. Das heisst, sie interpretiert makroökonomische Entwicklungen als das...
Read More »“Topics in Macroeconomics,” Bern, Spring 2024
BA course at the University of Bern. Time: Monday, 10:15–12:00. Location: H4, 115. Uni Bern’s official course page. The course targets students who have completed their mandatory training in microeconomics, macroeconomics and mathematics and who want to make use of macroeconomic theory in order to analyze questions related to asset prices, bubbles, government debt, or the link between fiscal and monetary policy. The grade may depend on participation in class; small group projects; and/or...
Read More »“Macroeconomics II,” Bern, Fall 2023
MA course at the University of Bern. Time: Monday 10:15-12:00. Location: A-126 UniS. Uni Bern’s official course page. Course assistant: Stefano Corbellini. The course introduces Master students to modern macroeconomic theory. Building on the analysis of the consumption-saving tradeoff and on concepts from general equilibrium theory, the course covers workhorse general equilibrium models of modern macroeconomics, including the representative agent framework, the overlapping generations...
Read More »“Makroökonomie I (Macroeconomics I),” Bern, Fall 2023
BA course at the University of Bern, taught in German. Time: Monday 14:15-16:00. Location: Audimax. Uni Bern’s official course page. Course assistant: Wjera Yell Leutenegger. Course description: Die Vorlesung vermittelt einen ersten Einblick in die moderne Makroökonomie. Sie baut auf der Veranstaltung „Einführung in die Makroökonomie“ des Einführungsstudiums auf und betont sowohl die Mikrofundierung als auch dynamische Aspekte. Das heisst, sie interpretiert makroökonomische Entwicklungen...
Read More »“Topics in Macroeconomics,” Bern, Spring 2023
BA course at the University of Bern. Time: Monday, 10:15–12:00. Location: UniS, S101. Uni Bern’s official course page. The course targets students who have completed their mandatory training in microeconomics, macroeconomics and mathematics and who are interested to make use of macroeconomic theory in order to analyze questions related to asset prices, bubbles, government debt, or the link between fiscal and monetary policy. The grade may depend on participation in class; small group...
Read More »“Macroeconomics II,” Bern, Fall 2022
MA course at the University of Bern. Time: Monday 10:15-12:00. Location: A-126 UniS. Uni Bern’s official course page. Course assistant: Stefano Corbellini. The course introduces Master students to modern macroeconomic theory. Building on the analysis of the consumption-saving tradeoff and on concepts from general equilibrium theory, the course covers workhorse general equilibrium models of modern macroeconomics, including the representative agent framework, the overlapping generations...
Read More »“Makroökonomie I (Macroeconomics I),” Bern, Fall 2022
BA course at the University of Bern, taught in German. Time: Monday 14:15-16:00. Location: Audimax. Uni Bern’s official course page. Course assistant: Wjera Yell Leutenegger. Course description: Die Vorlesung vermittelt einen ersten Einblick in die moderne Makroökonomie. Sie baut auf der Veranstaltung „Einführung in die Makroökonomie“ des Einführungsstudiums auf und betont sowohl die Mikrofundierung als auch dynamische Aspekte. Das heisst, sie interpretiert makroökonomische Entwicklungen...
Read More »Inflation is now out of the control of central banks
When “whatever it takes” means confiscation of wealth One of the reasons people decide to buy gold bullion or add silver coins to their portfolio is because they cannot be devalued. No one can suddenly decide to print more gold or silver! Sadly, this is exactly what happens with currencies around the world. And the last two decades have been prime examples of this. As governments rush to patch up past mistakes, missed warnings and election cycles they resort to...
Read More »