Messages

"Bricks in the vault of Norges Bank".

You can now hear the Ragnar Frisch speach I was talking about by following the "Bricks" link following Lecture 13 slide set. The setting was that a bust of Professor Jaeger, balanced on top of a pile of bricks, was to be unveiled. It was a speach to the students, whose initiative this was. Maybe one fine day we can re-stage everything (and have translation in English?)? (RNy)

By the way: The title of Williamson (2009) is "Exchange Rate Economics" (since you may find more than one papers when you follow the link). RNy

Slide set to last lecture posted. And the link to the article by Williamson: This is worth reviewing together with the article on the "monetary theory" by Rogoff given earlier. (As usual, you may have to be on an UiO computer for the link to work) RNy

Lecture 12 (Monday 23 April). We will lecture on Ch 7.1, Ch 7.2 and Ch 7.6 in OEM with the aid of a slide set prepared by Asbjørn Rødseth (posted). In Ch 7.6 in OEM there is a referesce to the Balessa-Samuelson effect which you find in Ch 4.2 in OR (RNy)

There was a mistake in my suggested solutions for Problem 1 seminar 5. Thanks to Kristin for pointing it out. See updated solution with bold face text in the last paragraph.

After a good break we re-start on Monday 16 April (Lecture 11). Note that there are two postings, one long and a short with graphs) for this lecture. (RNy)

Slides for Monday 26 March (Lect 10) have been posted. In addition, and first, we will finish the IT model in Asbjørn's compendium that we started at the end of Lect 9.(RNy)

In addition, I've posted the solutions that yesterday's group had prepared!

Problems for seminars 5-6 are uploaded. To the group in charge of seminar 5: Ask Tord before easter if you have questions. If you have questions in the period 5-10 April, ask Ragnar.

Slide set for Moday 19/3 added, about "old" and "new" monetary policy regimes.

A compendium by Asbjørn Rødseth called Open Economy Inflation Targeting has been added under Lectures. It replaces Rødseth (2011) in the Lecture plan for Lecture 9 (Monday 19 March). We will concentrate on Chapter 3: "Targeting Inflation in a Mundell-Fleming setting" (RNy)

The slide set to Lect 8 has been posted (RNy)

The "synthesis graphs" of the regimes that I drew on the blackboard: For R-II the graph of B-demand should of course slope upwards to the left (increasing in i). Thanks for pointing this out!

On Monday 5 March we will finish Lect 6 (portfolio model with regimes), and do Lect 7, just posted. (RNy)

Note: New dates for the remaining seminars: March 20, April 17 and April 24. Tord

Links to the article for Lecture 7 (5 March) by K. Rogoff has been added under Lectures (one of them should work) (RNy)

Lecture notes/slides for Lecture 6, Monday 27 Feb, have been posted. (RNy)

It seems like the next seminar is on February 28. Problem set for the seminar is therefore posted. Jens and Aleksander: Contact me if you want to discuss the problems. If we have time, I may go through some of the questions from the "week 8-problems" as well. Send me an e-mail if you have requests. Tord

Exercises for you to solve during next week are now uploaded. I will put out a solution guide at the end of next week. Let me know if there are any (big) issues with the problems. Tord

The plan for seminar groups have now been updated -- all groups please check, since I added one extra person to one of the groups. Tord

Regarding Seminar 2: There is a small typo in equation (2). It should say (1+n)(1+g), not just 1+g in the nominator. Sorry about that, hope it didn't cause too much confusion. Tord

Asbjørn Rødseth prepared a note on OLG models for the 4310-course last semester. Is worthwile to look at. See "Other material".

The problem sets for seminars 2-6 contained some errors. Sorry. We will put out corrected problem sets in due time before every seminar. A corrected problem set for seminar 2 is already uploaded. In addition, some of you have asked for extra problems to work on (with solutions). As a small step in that direction, see the links to solution manuals for the problems in O&R and Rødseth (under "Other material"). TSK and RNy.

Thanks very much to today's group: You did a good job! I have posted a short note going through the two questions we did not have time for during the seminar. Tord

To prepare for Lecture 5, you are asked to read section 6.2 from O&R, Chapter 1 from Rødseth, and also Obstfeld and Rogoff (2010). You will find the article here.