AØKK08326U Seminar: Macroeconomic aspects of financial frictions (F)

Volume 2014/2015
Education
M.Sc, of Economics
The seminar is a part of the Financial line signified with (F)
(Only available for Master students at Department of Economics)
Content

In this seminar students have to analyze recent theoretical and empirical studies of macroeconomic phenomena for which financial frictions are essential. While it is recommended that students have followed the graduate course Financial Frictions, Liquidity, and the Business Cycle, the only formal requirement is that students have knowledge of microeconomics, macroeconomics, and econometrics at the level of the undergraduate program.

Learning Outcome
  • Demand and credit supply effects during the Great Recession
  • Monetary models with housing services
  • Models of depressions vs. recessions
  • Empirical evidence of the lending channel
  • Determinants of households an firms’ leverage
  • Liquidity trap with financial frictions
  • Uncertainty shocks
  • Financial contagion
  • Liquidity and lender of last resort
  • Financial development and economic growth

 

Students are encouraged to write papers in pairs. Examples of what papers may do are (topics should be agreed with me):

  • Review of related articles on a specific topic
  • Extension of existing theoretical model
  • Replication and extension of empirical analysis using the original paper’s dataset
  • Replication and extension of empirical analysis using a different dataset than original paper
  • Original empirical analysis
  • Policy oriented analysis on a relevant topic

For the relevant literature, please refer to the syllabus of the graduate course Financial Frictions, Liquidity, and the Business Cycle, as well as recent papers published in top journals as well as NBER’s working papers.

B.Sc. of Economics
Planning meeting ind the begining of the semester,informed by the teacher, writing seminar paper during the semester and presentations at the end of the semester. More informations will be uploaded at Absalon by the teacher.

Preliminary schedule of meetings:
- February 3, a first meeting of one hour, where the teacher presents some selected topics, discuss the expected form of the papers and the end of term oral presentations.
- February 27, a second meeting of two hours, where the student in a few minutes describes the project and receive feedback from the teacher. A day earlier a description of length between a paragraph and one page must be send to the teacher.
- April 8, a third meeting of four hours, where the student makes a short presentation with slides of the project in more detail and receive feedback from other students and the teacher. A day earlier a description of length between two and four pages must be send to the teacher.
- May 15 the final version of the paper by must be send to the teacher and the discussant.
- May 28 and 29, final meetings of two full days. Each of the students should make a 40 minutes presentation of their research and provide a 20 minutes discussion of one of the other papers.

During February and in the first week of April after Easter the teacher will have time to meet once or twice with the students on an individual basis.
  • Category
  • Hours
  • Exam
  • 0,3
  • Seminar
  • 0
  • Total
  • 0,3
Credit
7,5 ECTS
Type of assessment
Written assignment
Oral examination, 60 min under invigilation
A written seminar paper and a oral presentation for the others participans at the seminar.
Exam registration requirements
Attendance on the seminar. The mandatory commitment paper and seminar paper have been handed in at deadline.
Aid

Al aids for the written seminarpaper.

For the oral presentation the slices for the presentation. The teacher can specifiy what els is allowed.

Marking scale
7-point grading scale
Censorship form
External censorship
up to 20 % censorship at the seminarpaper
Exam period
Is decided and informed by the teacher at the compulsive planningmeeting.
Re-exam
As ordinary.
Criteria for exam assesment

The student must in a satisfactory way demonstrate that he/she has mastered the learning outcome of the course.