Résumé : Contenu et Méthodes

The starting point is an intertemporal general equilibrium model with money. The methods needed to work with these models are those now familiar in modern dynamic macroeconomics. These models are used to evalu-ate the various channels by which monetary shocks can have real and nominal effects. Quantitative implications are examined through numerical simulations and compared to the available empirical evidence. Special empha-sis is given to expectations and the various ways of modelling nominal rigidities. Policy issues are evaluated in this setup.

The contents of the lectures will be based on material drawn from Walsh (1998) -see reference below- The fo-cus will be on a the understanding of a few key models. Exercices based on Walsh(1998) will be left as home-works and next discussed in class.

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