Study Center Gerzensee Advanced Doctoral Summer Course on New Developments in Business Cycles in Closed and Open Economies
In the course we will begin by critically reviewing the most popular existing real and monetary models of the business cycle both of the real business cycle and the New Keynesian variaty. We will discuss micro data on price behavior and real relative prices across countries that is at odds with the currently popular sticky price models. We will discuss micro data on the behavior of large and small firms over the cycle that is at odds with existing models of financial frictions. We also will discuss some challenges for large classes of approximately log-linear models based on the behavior of various asset prices. We will then use the business cycle accounting framework to isolate promising classes of models. We will end with attempts to build new models that can be consistent with the data.
|Event dates:||2008-08-18 – 2008-08-22|
|Organizers:||Study Center Gerzensee|
|Conference venue:||Gerzensee, Study Center Gerzensee|
|Classification:||E3 - Prices, Business Fluctuations, and Cycles|
|Event type:||Seminare, Summer Schools, Symposien, Workshops; Seminars, Summer Schools, Symposiums, Workshops|