Economics 810

Advanced Macroeconomic Theory

Spring 2018

Professor:  Noah Williams
Office: 7434 Sewell Social Science, e-mail:

Office hours: Thursday 2:30-3:30 or by appointment

There will be no class at our regularly scheduled times on March 21 and April 16.  We will reschedule these dates.



Lecture notes & other material:

Lecture 1: An Empirical New Keynesian Model |  Background: Evidence on the New Keynesian Model
Lecture 2: Estimation methods: Herbst-SchorfheideMCMC (intro), More on MCMC,  intro video
Lecture 3: Basic Models of Financial Frictions (from Tirole (2006)) Financial Frictions in DSGE Models
Lecture 4: Limited Commitment
Lecture 5: Asymmetric Information
Lecture 6: Continuous Time Stochastic Processes
Lecture 7: Continue stochastic processes,  Merton model
Lecture 8: Continue stochastic processes, continuous time finance
Lecture 9:  Continuous Time Dynamic Contracting
Lecture 10: Persistent Private Information
Lecture 11: Optimal Contracts with Hidden Risk

Problem Sets:

Problem Set 1, due in class on April 18.
Problem Set 2, due in class on May 2.

Sample referee reports: Top Journal   Field Journal
Sample discussion slides:  Sims's comments on my Carnegie-Rochester paper