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CONTENT: |
1.
Credit frictions, amplification and persistence of aggregate shocks,
and the business cycle: empirical evidence. 2. Credit frictions,
amplification and persistence of aggregate shocks, and the business
cycle: theory. 3. Credit frictions, uninsurable idiosyncratic risk,
and aggregate consequences of firm dynamics. 4. Financial
intermediation and the business cycle. 5. Aggregate consequences of
financial markets imperfections: empirical evidence from the
2007-2009 Great Recession. |
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OBJECTIVE: |
The
objective of the course is twofold: i) To illustrate to what extent
the existing theories are successful in explaining the empirical
evidence, emphasizing wich relevant questions remain unanswered. ii)
To provide the analytical tools to solve, analyse and empirically
test this class of models. |
