课程：宏观经济学理论II(Macroeconomic Theory II)

教师：Olivier Blanchard教授

相关阅读资料：
本课程没有教科书，你可以从以下书目中取材：
There are no textbooks for the course. However, I shall use material from:

Blanchard, O.和 S. Fischer,《宏观经济学之讲义》, 麻省理工学院出版社，1989版。 （在下文中简称“Blanchard 和 Fischer”）[涵盖了大部分的基础知识，但该书已经年代久远]。
Blanchard, O. and S. Fischer, Lectures on Macroeconomics, MIT Press 1989. (Blanchard and Fischer in what follows) [covers most bases, but is aging]
Obstfeld, M.和K. Rogoff,《国际经济学基础》麻省理工学院出版社，1996. (在下文中简称“Obstfeld 和 Rogoff”)[内容更注重开放式经济]。
Obstfeld, M. and K. Rogoff, Foundations of International Economics, MIT Press 1996. (Obstfeld and Rogoff in what follows) [focuses more on open economy issues]
Ljungqvist, L. 和 T. Sargent, 《宏观经济学递归理论》,麻省理工学院出版社， 2000 [更多着眼于技术]
Ljungqvist, L. and T. Sargent, Recursive Macroeconomic Theory, MIT Press 2000 [focuses more on techniques]
Woodford, M.《利率与价格》, 普林斯顿出版社, 2002版。（更注重名义刚性和货币政策的作用）（可以在www.princeton.edu/~woodford/macro20c.pdf上下载）
Woodford, M. Interest and Prices, mimeo Princeton, 2002. [focuses more on nominal rigidities, and the role of monetary policy]. Available at www.princeton.edu/~woodford/
宏观经济学研究领域发展迅速。以下两篇调查，可能对了解经济学发展纵向史有所帮助。
Macroeconomics is a rapidly changing field. To get a sense of the geography, you might find it useful to read two recent surveys:
Blanchard, O.,〈何为Fisher 和 Wicksell 所不知而为我们所知的宏观经济学知识？〉《经济学季刊》, 2000月11月, 115:4, 1375-1410。
Blanchard, O., "What Do We Know About Macroeconomics that Fisher and Wicksell Did Not?" QJE, November 2000, 115:4, 1375-1410.
Woodford, M., 《20世纪宏观经济学的革新与发展》 即将出现于 P. Gifford所编辑的《21世纪思维前沿》,哈佛大学出版社。(可以在www.princeton.edu/~woodford/macro20c.pdf上下载)
Woodford, M., "Revolution and Evolution in Twentieth-Century Macroeconomics," forthcoming in P. Gifford, ed., Frontiers of the Mind in the Twenty-First Century, Harvard University Press. (Available at www.princeton.edu/~woodford/macro20c.pdf)
这门课程围绕就九个主题/部分展开。针对每一个主题，我将给出一些基本阅读资料，以及一些展示深层次应用或扩展的学术论文。
The course is organized around nine topics/sections. For each topic, I have included basic readings, as well as a few papers showing further applications or extensions.

粗体字表示需要阅读。
Bold denotes required reading.

1.波动与实情
1. Fluctuations. Facts.

Blanchard和 Fischer, 第一章
Blanchard and Fischer, Chapter 1
Stock, J. 和Watson, M.,〈美国宏观经济时间序列中的经济周期波动〉第一章，第1A册。《宏观经济学手册》，J. Taylor 和 M. Woodford eds, 北荷兰, 1999
Stock, J. and Watson, M., "Business Cycle Fluctuations in U.S. Macroeconomic Time Series," Chapter 1, Volume 1A, Handbook of Macroeconomics, J. Taylor and M. Woodford eds, North Holland, 1999
Christiano L. 和T. Fitzgerald,〈经济周期：仍旧是一个谜。〉,《经济观察》, 芝加哥联邦储蓄银行, 1998-4, 56-83 (可以在http://faculty.econ.nwu.edu/faculty/christiano/research/ep98/ep4q98a.pdf 上下载)
Christiano L. and T. Fitzgerald, "The Business Cycle: It's Still a Puzzle'', Economic Perspectives, Federal Reserve Bank of Chicago, 1998-4, 56-83 (available at http://faculty.econ.nwu.edu/faculty/christiano/research/ep98/ep4q98a.pdf )
Abraham, K.和 J. Haltiwanger,〈实际工资和经济周期〉《经济文献杂志》（JEL）, 1995年9月, 期号33-3, 1215-1264
Abraham, K. and J. Haltiwanger, "Real Wages and the Business Cycle," JEL, September 1995, Volume 33-3, 1215-1264
Christiano, L., Eichenbaum M., 和C. Evans，〈货币政策的冲击效应：资本流动的迹象〉《经济学和统计学评论》（REStat）, 1996年2月, 78-1, 16-34
Christiano, L., Eichenbaum M., and C. Evans, "The Effects of Monetary Policy Shocks: Evidence from the Flow of Funds," REStat, February 1996, 78-1, 16-34

2.基本模型：消费/储蓄的选择
2. The basic model. The consumption/saving choice.

Blanchard 和Fischer, 第2章和第6章-2
Blanchard and Fischer, Chapters 2 and 6-2.
Obstfeld 和Rogoff, 第1章和第2章
Obstfeld and Rogoff, Chapters 1 and 2
Ljungquist 和Sargent, 第2章和第3章
Ljungqvist, L. and T. Sargent, Chapters 2 and 3
Campbell J.，《监测机制：随即增长模型分析法》，《货币经济学杂志》（JME）, 33, 1994年6月, 463-506
Campbell J., Inspecting the Mechanism: An Analytical Approach to the Stochastic Growth Model, JME, 33, June 1994, 463-506

3.关于劳动/休闲的选择（RBC模型）
3. Allowing for a labor/leisure choice. (the RBC model)

Prescott, E. C.，〈理论领先于经济周期测量〉《评论季刊》, 明尼阿波利斯联邦储备银行, 1986年秋季刊, 9-22
Prescott, E. C., "Theory Ahead of Business Cycle Measurement," Quarterly Review, Federal Reserve Bank of Minneapolis, Fall 1986, 9-22
Blanchard 和 Fischer, 第7章
Blanchard and Fischer, Chapter 7
King, R. 和 S. Rebelo，〈实际经济周期复苏〉第14章，第1B册，《宏观经济学手册》J. Taylor 和 M. Woodford eds，北荷兰，927-1007
King, R. and S. Rebelo, "Resuscitating Real Business Cycles," Chapter 14, Volume 1B, Handbook of Macroeconomics, J. Taylor and M. Woodford eds, North Holland, 927-1007
Basu, S. 和 Fernald, J.，〈生产力为什么会循环？我们为何关注？〉美国国家经济研究局（NBER） W7940, 2000年10月
Basu, S. and Fernald, J., "Why is Productivity Procyclical? Why Do We Care?," NBER W7940, October 2000
Jorgenson, D. 和K. Stiroh，〈提高速度限制：信息时代的美国经济增长〉布鲁鑫斯经济活动论文集，2000-1，125-235
Jorgenson, D. and K. Stiroh, "Raising the Speed Limit: U.S. Economic Growth in the Information Age," BPEA, 2000-1, 125-235
Shleifer, A.〈实现周期〉，《政治经济学杂志》（JPE）, 94-6, 1986年12月, 1163-1190
Shleifer, A., "Implementation Cycles," JPE, 94-6, December 1986, 1163-1190

4.关于重要的投资的选择
4. Allowing for non trivial investment decisions.

Blanchard 和Fischer, 章节2-4, 6-3
Blanchard and Fischer, Chapters 2-4, 6-3
Kraay, Aart,和Jaume Ventura，〈债权国和债务国的经常账户〉，《经济学季刊》， 2000-4，1137-1166
Kraay, Aart, and Jaume Ventura, "Current Accounts in Debtor and Creditor Countries'', QJE, 2000-4, 1137-1166

5.关于两项商品
5. Allowing for two goods.

Obstfeld 和 Rogoff, 第4章
Obstfeld and Rogoff, Chapter 4
Obstfeld, M. 和 K. Rogoff，〈经常账户的跨期方法〉，第34章, 第3册，《国际经济学手册》，G. Grossman 和 K. Rogoff eds， 1731-1799
Obstfeld, M. and K. Rogoff, "The Intertemporal Approach to the Current Account'', Chapter 34, Volume 3, Handbook of International Economics, G. Grossman and K. Rogoff eds, 1731-1799

6.货币简介
6. Introducing money.

Blanchard 和 Fischer，第4章的4.3 to 4.7; and第10章的 10.2
Blanchard and Fischer, Chapter 4, sections 4.3 to 4.7; and Chapter 10, section 10.2
Dornbusch, R., Sturzenegger, F., 和H. Wolf，〈通货膨胀：动态与稳定性〉，布鲁鑫斯经济活动论文集，1990-2, 1-84
Dornbusch, R., Sturzenegger, F., and H. Wolf, ``Extreme Inflation: Dynamics and Stabilization", Brookings Papers on Economic Activity, 1990-2, 1-84

7.定价简介
7. Introducing price setting.

Blanchard, O.，〈货币为何能影响产出 的调查报告。〉B. Friedman 和 F. Hahn eds, 《货币经济学手册》（Handbook of Monetary Economics），北荷兰，1990, 779-835
Blanchard, O., "Why Does Money Affect Output? A Survey," in B. Friedman and F. Hahn eds, Handbook of Monetary Economics, North Holland, 1990, 779-835
Blanchard和 Fischer, 章节8-1, 11-4
Blanchard and Fischer, Chapters 8-1, 11-4
Woodford, M., 章节3-1 ，〈名义刚性的最优化模式。一个基本粘性价格模型〉，
Woodford, M., Chapter 3-1 ("Optimizing Models with Nominal Rigidities. A Basic Sticky-Price Model'')

8.价格决定的变动的简介
8. Introducing staggering of price decisions.

Blanchard 和Fischer, 章节8-2， 8-3
Blanchard and Fischer, Chapter 8-2, 8-3
Woodford, M. , 章节3-2〈最优化模型和名义刚性。通货膨胀动态和定价变动〉
Woodford, M. , Chapter 3-2 ("Optimizing Models with Nominal Rigidities. Inflation Dynamics with Staggered Price Setting.)
King, R.，〈新IS-LM 模式：语言，逻辑和极限〉，《经济学季刊》，列治文联邦储备银行, 86-3, 2000年夏季刊, 45-103
King, R., "The New IS-LM model: Language, Logic, and Limits,'' Economic Quarterly, Federal Reserve Bank of Richmond, 86-3, Summer 2000, 45-103
Blanchard, O.，〈输出，股票市场和利率〉，《美国经济评论》（AER），1981年3月, 71-1，132-143.
Blanchard, O., "Output, The Stock Market, and Interest Rates,'' AER, March 1981, 71-1, 132-143.
Dornbusch, R.，〈期望值与汇率动态〉，《政治经济学杂志》，（JPE），1976年11月，84，1161-1176。
Dornbusch, R., "Expectations and Exchange Rate Dynamics,'' JPE, December 1976, 84, 1161-1176.
Tobin, J.〈凯恩斯的萧条时期模型〉，《美国经济评论》，（AER），65-2，1975年5月，195-202
Tobin, J. ``Keynesian Models of Recession and Depression'', AER, 65-2, May 1975, 195-202

9.财政和货币政策的应用
9. Applications to fiscal and monetary policy.

Woodford, M., 章节4-1， 4-2〈货币政策研究的Neo-Wicksellian架构〉，
Woodford, M., Chapter 4-1, 4-2 ("A Neo-Wicksellian Framework for the Analysis of Monetary policy'')
Clarida, R., J. Gali, 和 M. Gertler，〈货币政策科学：新凯恩斯主义观点〉， NBER W7147，May 1999
Clarida, R., J. Gali, and M. Gertler, "The Science of Monetary Policy: A New Keynesian Perspective," NBER W7147, May 1999
Krugman, P.〈它又回来了：日本的经济衰退和流动陷阱的重现。〉， 布鲁鑫斯经济活动论文集，1998-2，137-201
Krugman, P. "It is Baaack: Japan's Slump and the Return of the Liquidity Trap," BPEA, 1998-2, 137-201
Giavazzi, F., 和 M. Pagano，〈反凯恩斯主义的财政政策改变：国际现象和瑞典经验〉，美国国家经济研究局（NBER） W5332，1996年10月
Giavazzi, F., and M. Pagano, "Non-Keynesian Effects of Fiscal Policy Changes: International Evidence and the Swedish Experience," NBER W5332, October 1996.