Alessandro Dovis
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Econ 434: International Finance and Open Economy Macroeconomics
Fall 2015, Tuesday and Thursday, 9:45 AM - 11:00 AM; 060 Willard Bldg

Instructor: Alessandro Dovis
Office: 615 Kern Building
Email: azd12@psu.edu
Office hours: Tuesday and Thursday 11:10 AM - 12:10 PM

Teaching Assistant: Yiqiao Zheng
Office: 401 Kern Building
Email: yzz139@psu.edu
Office hours: Tuesday and Thursday 4:00 PM - 5:00 PM

E-mail messages to the instructor and the TA should be marked by beginning the subject line with ‘ECON 434’.

The syllabus for this class can be downloaded here [download syllabus]

Tentative Course Outline and References
There is no textbook for the course. 
The main references are the lecture notes from Stephanie Schmitt-Grohe and Martin Uribe (referred to as SGU below). 
A copy can be found here http://www.columbia.edu/~mu2166/UIM/index.html

1. Current Account, Global Imbalances and Capital Market Integration:
SGU Chapters 1-6 and 8

2. Current Accounts and Fiscal Deficits: 
SGU Chapter 7

3. Real Exchange Rates: 
SGU Chapters 9-10

4. Nominal Exchange Rates and Monetary Policy:  
SGU Chapter 12

5. External Debt and Sovereign Default: 
SGU Chapter 11
Additional articles to be posted

6. Optimum Currency Area and the Eurozone Crisis:
Lecture notes (to be posted)
Brunnermeier, Markus K, and Ricardo Reis. “A Crash Course On The Euro Crisis”. (In Preparation).  [download slides]
Fernández-Villaverde, Jesús, Luis Garicano, and Tano Santos. 2013. "Political Credit Cycles: The Case of the Eurozone." Journal of Economic Perspectives, 27(3): 145-66. [download copy]
Schmitt-Grohé, Stephanie, and Martin Uribe. 2013. "Downward Nominal Wage Rigidity and the Case for Temporary Inflation in the Eurozone." Journal of Economic Perspectives, 27(3): 193-212. [download copy]

Homeworks:

Homework #1: due on Thursday September 10  [download homework #1]
Note: For question 2 and 3 you need to download the data set on net foreign asset positions constructed by Lane and Milesi-Ferretti (available online at http://www.philiplane.org/EWN.html). There seems to a problem downloading it from a PSU computer so I posted the excel file on ANGEL. You can download it from there without problem. 
Homework #2: due on Thursday September 24  [download homework #2]
Homework #3: due on Thursday November 12  [download homework #3]
Homework #4: due on Thursday December 10  [download homework #4]


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  • HOME
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