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Teacher
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LEVRERO ENRICO SERGIO
(syllabus)
First Module
1. The debate on the origin of money
2. The supply of money and its endogeneity
3. The equilibrium of the financial sector
4. Conventional and unconventional monetary policies
5. The structure of the interest rates
Second Module
6. Money, prices, and output in the traditional and post-Keynesian models
7. The transmission channels of the monetary policies
8. Monetary policy, capital movements, and the exchange rate
9. The price puzzle and the cost channel of monetary policy
10. Rules and discretion
11. Money and public finance
(reference books)
Bank of England, Quarterly Bulletin, Q1, 54, 1, 2014, pp. 4-28 (Module 1)
N.S. Balke and K.M. Emery, “Understanding the price puzzle”, Economic Review— Fourth Quarter 1994, Federal Reserve Bank of Dallas, pp. 15-26 (Module 2)
R. Ciccone, “Public Debt and Aggregate Demand: Some Unconventional Analytics”, in E.S. Levrero, A. Palumbo and A. Stirati (eds), Sraffa and the Reconstruction of Economic Theory: volume 2. Aggregate Demand, Policy Analysis and Growth, Palgrave Macmillan, 2013, pp. 15-28 (Module 2)
B. Friedman, “Crowding Out or Crowding In? Economic Consequences of Financing Government Deficits”, Brookings Papers on Economic Activity, 3:1978, pp. 599-603 and 609-620 (Module 2)
C.A.E Goodhart, Money, information and uncertainty, Second edition, Macmillan, 1989, pp. 24-50, 51-57, 129-137 (Module 1)
A. Lavoie, Post-Keynesian Economics: New Foundations, Edward Elgar, 2014, pp. 186-225 and 245-252 (Module 1)
M. Pivetti, “Interest and profits in Smith, Ricardo and Marx”, Political Economy. Studies in the surplus approach, 3, 1, 1987, pp. 63-74 (Module 2)
W. Poole, “Optimal Choice of Monetary Policy Instruments in a Simple Stochastic Macro Model”, The Quarterly Journal of Economics, 84, 2, 1970), pp. 197-203 (Module 2)
J. Smithin, The theory of interest rates, in P. Arestis and M. Sawyer, A Handbook of Alternative Monetary Economics, Edward Elgar, 2006, pp. 273-290 (Module 2)
M. Vernengo, Money and inflation, in P. Arestis and M. Sawyer, A Handbook of Alternative Monetary Economics, Edward Elgar, 2006, pp. 476-489 (Module 1 and 2)
C.E. Walsh, Monetary Theory and Policy, third edition, The Mit Press, 2010, pp. 21-24, 33-71, 134-162, 195-209, 465-475 (Module 1 and 2)
C. E. Walsh, “Teaching Inflation Targeting: An Analysis for Intermediate Macro”, Journal of Economic Education, Fall 2002, pp. 333-346 (Module 2).
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Università Roma Tre