Modern Macro, Money, and International Finance
by
Markus Brunnermeier (Princeton University)
Online Course
Teaching (Markus Brunnermeier):
June 7, 14, 21, 2021, 2:30–4:00 pm and 4:30–6:00 pm CEST
TA-Sessions (Sebastian Merkel) :
June 9, 16, 23, 2021, 2:30–4:00 pm CEST
Deadline: 6pm (UK time), Friday 14 May, 2021
General Description
We are pleased to announce details of the latest EABCN Training School; “Modern Macro, Money, and International Finance”. Professor Markus Brunnermeier taught the course and Sebastian Merkel gave the TA sessions.
It is primarily aimed at participants in the Euro Area Business Cycle Network but applications will also be considered from doctoral students, post-doctoral researchers and economists working in central banks and government institutions outside of the network, as well as commercial organisations (fees are applicable for non-network non-academic organisations).
Course Contents
This course exposed participants to modern continuous time modelling techniques at the intersection between macroeconomics, monetary economics and (international) finance. The aim of this course was to develop and teach advanced tools and includes a step-by-step solution procedure that participants could apply to a variety of economic problems.
Topics included monetary theory based on financial frictions, non-linear dynamics, endogenous risk and risk premium dynamics, safe assets, fiscal debt capacity, currency competition in an international setting, and as well as digital currency issues.
1. A Simple Heterogenous Agents Model
2. Endogenous Risk, Price of Risk, and Risk Premium Dynamics
3. Money Model with Idiosyncratic Risk, the Fiscal Theory of Price Level, and MMT
4. The I Theory of Money, Safe Assets and Flight to Safety
5. Welfare: Monetary Policy and Macro-Prudential Policy Interaction
6. International Monetary System: A Risk Perspective
7. Digital Money, Digital Currency Areas, Digital Dollarization
The course will take place online in the afternoons for Europe:
•June 7th lecture (3 hours)
•June 9th practice (1.5 hours)
•June 14th lecture (3 hours)
•June 16th practice (1.5 hours)
•June 21st lecture (3 hours)
•June 23rd practice (1.5 hours)
About the Instructor:
Markus K. Brunnermeier is the Edwards S. Sanford Professor at Princeton University. He is a faculty member of the Department of Economics and director of Princeton's Bendheim Center for Finance. He is also a research associate at NBER, CEPR, and CESifo and a member of the Bellagio Group on the International Economy. He is a Sloan Research Fellow, Fellow of the Econometric Society, Guggenheim Fellow and the recipient of the Bernácer Prize granted for outstanding contributions in the fields of macroeconomics and finance. He is/