Course Contents
Since the Global Financial Crisis, there has been a resurgence of interest in fiscal policy amongst both academics and policy makers. A question of central interest is the causal impact of fiscal policy shocks and, in particular, the dynamic causal effects. As with monetary policy, the main obstacle to producing such evidence is that changes in fiscal policy instruments are to a large extent endogenous. This course look into methods available for confronting such endogeneity and discuss applications. We will also examine how to confront issues such as anticipation effects, heterogeneity (across the population), and state dependence (time permitting). The course will also connect the results to economic theory and look into positive theories of fiscal policy.
About the Instructor:
Morten O. Ravn is Professor of Economics at University College London. He holds a PhD from the University of Southampton and has previously been employed at University of Aarhus, University of Southampton, Universitat Pompeu Fabra, London Business School and the European University Institute. His research has been concerned with macroeconometrics, macroeconomic theory and international macro with main themes being fiscal policy, business cycles, and monetary economics. He has published in the Quarterly Journal of Economics, American Economic Review, Review of Economic Studies, Journal of Monetary Economics, American Economic Journal and many others. He is also Deputy Chairman of the Board of the Danish National Research Foundation, CEPR Research Fellow and has served as Managing Editor of the Economic Journal.
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