C. Jones / D. Romer
University of California at Berkeley
Department of Economics
Fall Semster, 2001-2002
Economics 202B -- Macroeconomics
Office Hours: Jones (Tuesdays, 10am-Noon). Romer (Tues-Thurs 10-11am).
Midterm: Thursday October 18 in class.
Final: Thursday December 13, 12:30-3:30pm.
Starred (*) readings are required and will be available in the Course Reader or the Romer textbook. The others are useful references.
I. Economic Growth References on Economic Growth An extensive, but still incomplete, list of references.
Web Links on Economic Growth
A. The Solow Model
*Romer, David. Advanced Macroeconomics, Chapter 1.
Solow, Robert. 1956. "A Contribution to the Theory of Economic Growth" Quarterly Journal of Economics 70:65-94.
Solow, Robert. 1957. "Technical Change and the Aggregate Production Function" Review of Economics and Statistics 39:312-320.
B. Cross-Country Income Differences
*Romer, David. Advanced Macroeconomics, Chapter 3, Part B.
*Hall, Robert E. and Charles I. Jones. 1999. "Why Do Some Countries Produce So Much More Output per Worker than Others?" Quarterly Journal of Economics 114:83-116.
*Parente, Stephen L., and Edward C. Prescott. 1999. "Monopoly Rights: A Barrier to Riches." American Economic Review 89 (December): 1216-1233.
*Acemoglu, Daron, and James A. Robinson. 2000. "Political Losers as a Barrier to Economic Development." American Economic Review 90 (May): 126-130.
Barro, Robert and Xavier Sala-i-Martin. Economic Growth. Chapters 10 - 12.
Barro, Robert. 1991. "Economic Growth in a Cross Section of Countries" Quarterly Journal of Economics 106:407-441.
Mankiw, N. Gregory, David Romer, and David N. Weil. 1992. "A Contribution to the Empirics of Economic Growth" Quarterly Journal of Economics 107:407-437.
Jones, Charles I. 1997. "On the Evolution of the World Income Distribution" Journal of Economic Perspectives 11:19-36.
C. The Ramsey-Cass-Koopmans Model
*Romer, David. Advanced Macroeconomics, Chapter 2, Sections 2.1-2.7.
*Barro, Robert and Xavier Sala-i-Martin. Economic Growth. Chapter 2 and Appendix 1.3 (at end of book)
Obstfeld, Maurice. 1992. "Dynamic Optimization in Continuous-Time Economic Models (A Guide for the Perplexed)" Part 1.
D. The Diamond OLG Model
*Romer, David. Advanced Macroeconomics, Chapter 2, Sections 2.10-2.14.
Diamond, Peter. 1965. "National Debt in a Neoclassical Growth Model" American Economic Review" 55:1126-1150.
E. Endogenizing Growth
*Romer, David. Advanced Macroeconomics, Chapter 3, Part A.
Rebelo, Sergio. 1991. "Long-Run Policy Analysis and Long-Run Growth" Journal of Political Economy 99:500-521.
*Lucas, Robert E. 1988. "On the Mechanics of Economic Development" Journal of Monetary Economics 22:3-42.
*Romer, Paul M. 1990. "Endogenous Technological Change" Journal of Political Economy 98:S71-S102.
Jones, Charles I. 1995. "Time Series Tests of Endogenous Growth Models" Quarterly Journal of Economics 110:496-525.
Jones, Charles I. 1995. "R&D-Based Models of Economic Growth" Journal of Political Economy 103:759-784.
Kremer, Michael. 1993. "Population Growth and Technological Change: One Million B.C. to 1990" Quarterly Journal of Economics 108:681-716.
Jones, Charles I. 2001. "Was an Industrial Revolution Inevitable? Economic Growth over the Very Long Run" Advances in Macroeconomics August, Vol. 1, No. 2, Article 1.
II. DSGE Models of Flucations A. Introduction to Dynamic Programming
*Ljungqvist, Lars and Thomas J. Sargent. 2001. Recursive Macroeconomic Theory (MIT Press), Chapters 2 and 3.
Greenwood, Jeremy. 2001. Lecture Notes on Dynamic Competitive Analysis University of Rochester mimeo.
B. Business Cycles in the Neoclassical Growth Model
*Romer, David. Advanced Macroeconomics, Chapter 4.
*Cooley, Thomas F. and Edward C. Prescott. 1995. "Economic Growth and Business Cycles." Chapter 1 of Cooley (ed.) Frontiers of Business Cycle Research
Campbell, John Y. 1994. "Inspecting the Mechanism: An Analytical Approach to the Stochastic Growth Model" Journal of Monetary Economics 33:463-506.
Prescott, Edward. 1986. "Theory Ahead of Business Cycle Measurement" Federal Reserve Bank of Minneapolis Quarterly Review 10(4):1-22.
Summers, Lawrence. 1986. "Some Skeptical Observations on Real Business Cycle Theory" Federal Reserve Bank of Minneapolis Quarterly Review 10(4):23-27.
*Hansen, Gary and Randall Wright. 1992. "The Labor Market in Real Business Cycle Theory" Federal Reserve Bank of Minneapolis Quarterly Review 16(2).
Christiano, Lawrence and Martin Eichenbaum. 1992. "Current Real-Business-Cycle Theories and Aggregate Labor-Market Fluctuations" American Economic Review 82(3):430-450.
III. Fiscal Policy and Budget Deficits *Romer, David. Advanced Macroeconomics, Chapter 11.
Barro, Robert J. 1979. "On the Determination of Public Debt." Journal of Political Economy 87 (October): 940-971.
Tabellini, Guido, and Alberto Alesina. 1990. "Voting on the Budget Deficit." American Economic Review 80 (March): 37-49.
Alesina, Alberto, and Allan Drazen. 1991. "Why Are Stabilizations Delayed?" American Economic Review 81 (December): 1170-1188.
*Roubini, Nouriel, and Jeffrey D. Sachs. 1989. "Political and Economic Determinants of Budget Deficits in the Industrial Democracies." European Economic Review 33 (May): 903-933.
*Grilli, Vittorio, Donato Masciandaro, and Guido Tabellini. 1991. "Political and Monetary Institutions and Public Financial Policies in the Industrial Countries." Economic Policy 13 (October): 341-392.
*Auerbach, Alan J., and William G. Gale. 2000. "Perspectives on the Budget Surplus." National Tax Journal 53 (September): 459-472.
Lindsey, Lawrence B. 2001. Remarks at the Federal Reserve Bank of Philadelphia (July 19). Available here.