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J. Bradford DeLong
Current plans are for me to co-teach Econ 202b in the fall of 1998 with Maury Obstfeld.
David Romer, Advanced Macroeconomics, pp. 439-61.
Janet Yellen (1984), "Efficiency Wage Models of Unemployment," American Economic Review 74: pp. 200-05.*
Carl Shapiro and Joseph Stiglitz (1984), "Equilibrium Unemployment as a Worker Discipline Device," American Economic Review 74: pp. 433-44.*
Unemployment and "Hysteresis"
David Romer, Advanced Macroeconomics, pp. 461-73.
Olivier Blanchard and Lawrence Summers (1987), "Hysteresis in Unemployment," European Economic Review 31: pp. 288-95.*
Martin Baily (1974), "Wages and Unemployment under Uncertain Demand," Review of Economic Studies 41: pp. 37-50.
Search and Matching Models
David Romer, Advanced Macroeconomics, pp. 473-81.
Christopher Pissarides (1985), "Short Run Dynamics of Unemployment, Vacancies, and Real Wages," American Economic Review 75 (September): pp. 676-690.
Olivier Blanchard and Peter Diamond (1989), "The Beveridge Curve," Brookings Papers on Economic Activity 1: pp. 1-60.
Job Creation and Destruction: Patterns of Wage Changes
David Romer, Advanced Macroeconomics, pp. 481-86.
Lael Brainard and David Cutler (1993), "Sectoral Shifts and Cyclical Unemployment Reconsidered," Quarterly Journal of Economics 108: pp. 219-43.
Steven Davis and John Haltiwanger (1992), "Gross Job Creation, Gross Job Destruction, and Employment Reallocation," Quarterly Journal of Economics 107: pp. 819-63.
Lawrence Katz and Kevin Murphy (1992), "Changes in Relative Wages, 1963-87: Supply and Demand Factors," Quarterly Journal of Economics (February): pp. 35-78.
Alan Krueger (1993), "How Computers Have Changed the Wage Structure: Evidence from Microdata, 1984-1989," Quarterly Journal of Economics (February): pp. 33-60.
If not, labor markets will go into the hopper for Econ 202b along with the following:
(Of course, only three out of the five topics could possibly fit.)
- Unemployment (1 week)
- Hysteresis (1 week)
- Search and matching models (1 week)
- Job creation and destruction (1 week)
- Inter-industry wage premia (1 week)
- Income inequality (1 week)
Understanding aggregate consumption
- The random-walk consumption hypothesis (1 week)
- Relationships between savings and the interest rate (1 week)
- The consumption CAPM (1 week)
- "Precautionary" saving, liquidity constraints and myopia (1 week)
Understanding aggregate investment
- Jorgenson's model of the capital stock and the user cost of capital (1 week)
- Tobin's q-theory of investment (2 weeks)
- Uncertainty and irreversibility (1 week)
- Corporate control and its vicissitudes (1 week)
- Liquidity constraints on the firm side (1 week)
Nominal adjustment once again
- Money illusion and other forms of "bounded rationality" (1 week)
- Small menu costs and large business cycles (1 week)
- Monopolistic competition and firm markups (1 week)
- Time and state dependent pricing (1 week)
- Working with distributions of agents rather than representative agents (1 week)
- The capital asset pricing model (1 week)
- The term structure of interest rates (1 week)
- The equity premium puzzle (1 week)
- The excess volatility puzzle (1 week)
- Multiple equilibria and speculative attacks (1 week)
- Herding behavior (1 week)
- Noise traders (1 week)
Productivity at cyclical frequencies
- What are the data? (1 week)
- Aggregate productivity and the productivity of aggregates (1 week)
- Labor hoarding and job hoarding (1 week)
- Monopoly power and monopolistic competition (1 week)
- Increasing returns and procyclical productivity shocks (1 week)
|Professor of Economics J. Bradford DeLong, 601 Evans, #3880|
University of California at Berkeley
Berkeley, CA 94720-3880
(510) 643-4027 phone (510) 642-6615 fax
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