U.C. Berkeley, Department of Economics 
Spring Semester, 2006

Macro/Growth Reading Group

Wednesdays, Noon - 1pm in 608-13 Evans
(Bring Your Own Lunch)

  Please send an email to chad@econ if you would like to receive announcements or would like to lead one of the discussions.

Here are some possibilities for papers that we could read.  Feel free to suggest others.

Suggestions

Bernheim (1989) "Intergenerational Altruism, Dynastic Equilibria and Social Welfare"
Atkeson and Lucas (1992) "On Efficient Distribution with Private Information"
Barro (2005) "Rare Events and the Equity Premium"
Gabaix (2005) “The Granular Origins of Aggregate Fluctuations”
Urban Jermann, "The Equity Premium Implied by production"
Vivian Yue, "Sovereign Default and Debt Renegotiation"
Ricardo Reis (2005) "A Cost-of-Living Dynamic Price Index, with an Application to Indexing Retirement Accounts"

Aguiar and Hurst (2006) “Measuring Trends in Leisure”
Heathcote, Storesletten, Violante (2006) “Insurance and Opportunities: The Welfare Implications of Rising Wage Dispersion”
Golosov and Lucas (2003), "Menu Costs and Phillips curves",
Brunnermeier and Parker "Optimal Expectations"
Besley and Burgess (2004 QJE) "Can Labor Regulations Hinder Economic Performance,
     Evidence from India"
Benabou (2004) "Inequality, Technology, and the Social Contract" (NBER WP 10371)

Acemoglu Antras Helpman: contracts and the division of labor, MIT 2005
Acemoglu Aghion Griffith and Zilibotti: vertical integration and technology: theory and evidence (NBER WP 10997)
Antras, firms, contracts and trade structure, QJE 2003
Banerjee, Duflo and Munshi, the misallocation of capital, JEEA 2003
Amador, angeletos werning, commitment vs flexibility, forth econometrica

Handbook of Economic Growth chapters:here.
Recent NBER Working Papers:  here.

  1. recent trade lit with heterogenous firms
2. Bernard, Eaton, Kortum, "Plants and Productivity in International Trade"
(2003), AER February 03
3. antras and helpman "global sourcing", forthcoming JPE

2. recent work on bubbles;
1. Abreu and Brunnermeier (2003), "Bubbles and Crashes"
2. Santos and Woodford (1997) econometrica: rational asset pricing bubbles

3. optimal fiscal policy/the size of the government/political economy
0. Niepelt (2004 Feb, QJE) "The Fiscal Myth of the Price Level"
1. krusell and rios-rull (1997) "politico-economic equilibrium and economic
growth"
2. krusell, quadrini and rios-rull (1999), "on the size of the U.S.
government"
3. Hassler, Mora, Soresletten and Zilibotti (2003) "The survival of the
welfare state", AER 2003
4. Hassler, Mora, Soresletten and Zilibotti (2003) "dynamic political choice
in macroeconomics"
5. Chari and Kehoe (1990): sustainable plans
6. Klein Krusell and Rios-Rull (2003): time consistent public expenditures
7. Albanesi and Sleet, "Dynamic Optimal Taxation with Private Information",
June 2003

4: heterogenous expectations, lack of common knowledge and macroeconomics
-allen, morris and shin: beauty contests and iterated expectations in asset markets
-morris and shin: social value of public information
-angeletos and hellwig: Information Dynamics and Equilibrium Multiplicity in Global Games of Regime Change, NBER WP 11017
- angeletos and werning: Crises and Prices: Information Aggregation, Multiplicity and Volatility, NBER WP 11015
-hellwig, mukherji and tsyvinski: Coordination Failures and Asset Prices