Master of Science in International and Monetary Economics

Suggested Books

Gali, Jordi (2008), Monetary Policy, Inflation and the Business Cycle, Princeton University Press.
Walsh, Carl (2003), Monetary Policy Theory and Policy MIT Press.
Woodford, Michael (2003), Interest Rate and Prices, Princeton University Press.

Topics and Selected Reading List

Transaction Frictions: Money in the Utility Function, Cash-in-Advance Constraints

Walsh, Carl (2003), Chapters 2 and 3.

A Classical Monetary Model

Woodford, Michael (2003), Chapter 3.

A New-Keynesian Monetary Model

Benigno, Pierpaolo (2009), “New Keynesian Economics: An AS-AD View” NBER Working Paper No. 14824.
Woodford, Michael (2003), Chapter 4-5.

Optimal Monetary Stabilization Policy

Benigno, Pierpaolo and Michael Woodford (2005), “Inflation Stabilization and Welfare: The Case of a Distorted Steady State,” Journal of the European Economic Association, 3(6), Pages 1-52.
Woodford, Michael (2009), “Optimal Monetary Stabilization Policy,” Handbook of Monetary Economics, forthcoming.

Monetary and Fiscal Policy Interaction

Canzoneri, Matthew, Robert Cumby and Benzhad Diba (2009),“Interaction Detween Monetary and Fiscal Policy,” Handbook of Monetary Economics, forthcoming.
Schmitt-Grohe, Stephanie and Martin Uribe (2009), “The Optimal Inflation Rate,” Handbook of Monetary Economics, forthcoming.

Monetary and Fiscal Policy at the Zero-Lower Bound

Eggertsson, Gauti (2009), “What Fiscal Policy is Effective at Zero Interest Rate?” NBER Macroeconomics Annual, forthcoming.

Monetary Policy, the Credit and the Banking Cycle

Adrian, Tobias and Hyun Shin (2009), “Financial Intermediaries and Monetary Policy” Handbook of Monetary Economics, forthcoming.
Gertler, Mark and Nobuhiro Kiyotaki (2009), “Financial Intermediation and Credit Policy in a Business Cycle Analysis” Handbook of Monetary Economics, forthcoming.

Unconventional Monetary Policy

Curdia, Vasco and Michael Woodford (2009), “Conventional and Unconventional Monetary Policy” unpublished manuscript.
Gertler, Mark and Peter Karadi (2009),“A Model of Unconventional Monetary Policy” unpublished manuscript.