“Fiscal and Monetary Policies,” Bern, Spring 2019

MA course at the University of Bern.

The classes follow these notes and build on the material covered in the macro II course. Uni Bern’s official course page. The course TA is Lukas Völlmy.

Main contents:

  1. Concepts.
  2. RA model with government spending and taxes.
  3. Government debt in RA model.
  4. Government debt and social security in OLG model.
  5. Neutrality results.
  6. Consolidated government budget constraint.
  7. Fiscal effects on inflation. Game of chicken.
  8. FTPL. Active and passive policies.
  9. Tax smoothing.
  10. Time consistent policy.
  11. Sovereign debt.