Professor Philip Lane

Email:plane@tcd.ie

Homepage:http://www.philiplane.org/msc

February 2012

Msc Macroeconomics: International Module, Spring 2012

This is a graduate-level course in international macroeconomics. The textbook for the course is Maurice Obstfeld and Kenneth Rogoff, Foundations of International Macroeconomics, MIT Press, 1996 (Henceforth OR). If you did not take international economics as an undergraduate, an undergraduate textbook such as Krugman/Obstfeld or Feenstra/Taylor may also be helpful.

Building Blocks of Open-Economy Macroeconomics: Current Accounts, International Asset Trade, Real Exchange Rates

OR, Chapters 1,2, 4, 5.

Philip R. Lane and Gian Maria Milesi-Ferretti (2007), "The External Wealth of Nations Mark II," Journal of International Economics.

Robert E. Lucas, "Why Doesn't Capital Flow from Rich to Poor Countries?," American Economic Review 80, 92-96 , May 1990.

Kenneth French and James Poterba (1991), "Investor Diversification and International Equity Markets," American Economic Review 81, 222-226.

Balazs Egert (2007), "Real Convergence, Price Level Convergence and Inflation Differentials in Europe," CESifo Working Paper No. 2127.

Jeffrey Sachs (1982), "The Current Account in the Macroeconomic Adjustment Process," Scandinavian Journal of Economics.

Open-Economy Macroeconomic Models

OR, Chapters 7, 9, 10.

Maurice Obstfeld (2001), "International Macroeconomics: Beyond the Mundell-Fleming Model," International Monetary Fund Staff Papers 48, Special Issue 2001.

Kenneth Rogoff (2002), "Dornbusch's Overshooting Model After 25 years," International Monetary Fund Staff Papers 49, Special Issue 2002, 1-35.

Philip R. Lane (2001), "The New Open Economy Macroeconomics: A Survey," Journal of International Economics 54, 235-266, August 2001.

Giancarlo Corsetti (2007), "New Open Economy Macroeconomics," New Palgrave Dictionary of Economics.

Lecture Notes

BOP Accounting

International Capital Markets

Real Exchange Rate

Macroeconomic Models