Diary of A Course in Modern Macroeconomics: Heterogeneity and Fluctuations, August 19
1. Wed November 27
We go over the material of the course and we argue why Heterogeneity matters for Macroeconmics. We go over measure theory.
1 2. Fri Nov 29 Morning
We finish Measure Theory
We go over the Hopenhayn model of competitive industry equilibria.
We start the Aiyagari Model.
2 2. Fri Nov 29 Afternoon
We finish the Aiyagari Model.
We go over the model with entrepreneurs.
We start an endogenous theory of wage determination which requires a bit of search theory.
3 3. Fri Dec 6
We start an endogenous theory of wage determination which requires a bit of search theory.
We talk about transition. We talk about computation a bit.
We talk about aggregate fluctuations (Krusell Smith type of things). We talk about computation a bit.
We talk about a small open economy with land / the great recession.
4 4. Fri Dec 13
We finish with various other topics (some with choices by students)