北京大学国家发展研究院研究生课程货币政策与金融稳定专题Topicsin.PDFVIP

北京大学国家发展研究院研究生课程 货币政策与金融稳定专题 Topics in Monetary Policy and Financial Stability Course Syllabus Fall 2018 Instructor: Changhua Yu National School of Development, Peking University Email: changhuayu@ Office:302 Langrun Garden Class Time: TBA Office hours: Wednesday 10:00am-11:30am Course Email: ccer_ifm@163.com, psw: Ccer123456@ COURSE DESCRIPTION Monetary policy has the ability to shape all economic interactions in a way that no other policy does. All transactions in the modern economy are indexed to currency in some way. The money supply, exchange rates, and reserve requirements all impact the way economic actors operate. However, the recent experience of the Great Recession has raised questions in monetary policy surrounding the limits to this power. At the same time, new methods to address these challenges have been developed, but are yet to be rigorously evaluated. Moreover, some countries are considering expanding the role of the central bank to include the macro-prudential regulation of financial markets. This course will cover advanced topics in monetary policy and financial stability for graduate students. The course has two parts. The first part will introduce a fairly detailed study of the “New Keynesian” approach to macroeconomics and the implications of this framework for the use of monetary policy and fiscal policy to stabilize business cycle fluctuations. We will start from a classical monetary model and a stylized New Keynesian Model, and then cover some applications of the basic models, including unemployment fluctuations in the new Keynesian model, related empirical tests, monetary and fiscal interactions, liquidity trap and quantitative easing. The second part of t