總體經濟學專論
SPECIAL TOPICS IN MACROECONOMICS
九十二學年度第一學期； Fall, 2003
國立臺灣大學 農業經濟研究所
An economist must be “mathematician, historian, statesman, philosopher,
in some degree …. as aloof and incorruptible as an artist, yet sometimes
as near the earth as a politician.”
John Maynard Keynes
課程編號：627 D1730
任課教師：徐世勳 教授 (Dr. Shih-Hsun Hsu)
辦公室：農業綜合館 103 A 室
電 話：2365-6329 或 2363-7372 (助理)
電 傳：2362-8496
E-mail ：m577@ccms.ntu.edu.tw
學分： 3
全年或半年： 半年
必修或選修： 必修
授課對象：博士班研究生及相關研究單位專家學者
授課地點：農業綜合館二樓會議室
授課時間：星期五 上午 9:10 - 12:00
課程網址：http://ceiba.ntu.edu.tw/921special_macro/
評分標準：(1) 實習佔學期總分 20%
(2) 期中考試佔學期總分 40%
(3) 期末考試佔學期總分 40%
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主要用書：
Romer, David (2001), Advanced Macroeconomics, Second Edition, New York: McGraw-Hill
Companies, Inc. [HB172.5.R66，新月圖書公司，電話：2331-7856，2331-1578]
Blanchard, Olivier Jean and Stanley Fischer (1989), Lectures on Macroeconomics, Cambridge,
Massachusetts: The MIT Press. [茂昌圖書有限公司，電話：2702-2125] (B&F)
Barro, Robert J. and Xavier Sala-I-Martin (1995), Economic Growth, New York: McGraw-Hill
Companies, Inc. [雙葉書廊有限公司，電話：2368-4198] (B&S)
參考用書：
Aghion, Philippe and Peter Howitt (1998), Endogenous Growth Theory, Cambridge,
Massachusetts: The MIT Press. [HD45.A47]
Barro, Robert J. (1997), Macroeconomics, Fifth Edition, Cambridge, Massachusetts: The MIT
Press. [HB172.5.B36，華泰文化事業公司，電話：2377-3877] (Barro undergrad.)
Blanchard, Olivier (2003), Macroeconomics, Upper Saddle River, New Jersey: Prentice Hall. [台
灣西書有限公司，電話：2321-2308]
Dixit, Avinash (1990), Optimization in Economic Theory, 2nd edition, Oxford: Oxford University
Press.
Gordon, Robert J. (2000), Macroeconomics, Eighth Edition, Reading, Massachusetts: AddisonWesley. [HB172.5.G67，華泰文化事業公司，電話：2377-3877]
Hall, Robert E. and John B. Taylor (1996), Macroeconomics, Fifth edition, New York: W. W.
Norton & Company. [HB172.5.H35]
Mankiw, N. Gregory (2003), Macroeconomics, Fifth Edition, New York: Worth Publishers. [台
灣西書有限公司，電話：2321-2308] (Mankiw undergrad.)
McCafferty, Stephen (1990), Macroeconomic Theory, New York: Harper & Row, Inc.
[HB172.5.M365]
Sargent, Thomas J. (1987), Macroeconomics Theory, Second edition, Orlando, Florida:
Academic Press. [HB172.5.S27]
Turnovsky, Stephen J. (1995), Methods of Macroeconomic Dynamics, Cambridge, Massachusetts:
The MIT Press. [HB172.5.T785，華泰文化事業公司，電話：2377-3877]
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上課大綱：
I. Review of Some Mechanics of Macroeconomics
1. Review of the Solow model
*[Chapter 1.1-1.4 in Romer]
[Chapter 1.1-1.2 and Appendix to Chapter 1 in B&S]
[Barro undergrad. Chapter 11]
[Mankiw undergrad. Chapter 7-8]
Solow, Robert M. 1956, “A Contribution to the Theory of Economic Growth,”
Quarterly Journal of Economics, 70 (February): 65-94. reprinted in
Stiglitz and Uzawa (1969).
2. Growth Empirics I: convergence and the augmented solow model
*[Chapter 1.5-1.7, 3.B.8 in Romer]
[B&S Introduction, Chapters 10-12]
Barro, Robert J. 1991, “Economic Growth in a Cross Section of Countries,”
Quarterly Journal of Economics, 106 (May): 407-443.
Baumol, William 1986, “Productivity Growth, Convergence, and Welfare,”
American Economic Review, 76 (December): 1072-1085.
De Long, J. Bradford 1988, “Productivity Growth, convergence, and Welfare:
Comment,” American Economic Review, 78 (December): 1138-1154.
*Mankiw, N. Gregory, David Romer, and David N. Weil 1992, “A
Contribution to the Empirics of Economic Growth,” Quarterly Journal
of Economics, 107 (May): 407-437.
3. Review of the classical and Keynesian short-run models
*[Chapter 5 in Romer]
[Barro undergrad. Chapter 9-11, 13]
[Mankiw undergrad. Chapter 2-8]
4. Some stylized facts in the short run
*[Chapter 4-1 in Romer]
*[B&F Chapter 1]
Kydland, Finn E. and Edward Prescott 1990, “Business Cycles: Real Facts and
a Monetary Myth,” Federal Reserve Bank of Minneapolis Quarterly
Review, (Spring): 3-18.
II. Long Run Economic Growth and Fiscal Policy: The Neoclassical Perspective and
Endogenous Growth
1. The Ramsey-Cass-Koopmans Model and Ricardian Equivalence
*[Chapters 2.A.1-9, 11.1-4 in Romer]
*[B&F Chapters 2.1-2.2, 2.5]
[Dixit various chapters]
[Barro undergrad. Chapter 14]
[Mankiw undergrad. Chapter 15]
*Barro, Robert J. 1974, “Are Government Bonds Net Wealth?” Journal of
Political Economy, 82 (November/December): 1095-1117.
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*Barro, Robert J. and Xavier Sala-I-Martin 1992, “Convergence,” Journal of
Political Economy, 100 (April): 223-251.
Barro, Robert J. 1979, “On the Determination of Public Debt,” Journal of
Political Economy, 87 (October): 940-971.
Cass, David 1965, “Optimum Growth in an Aggregative Model of Capital
Accumulation,” Review of Economic Studies, 32(July): 233-240.
Ramsey, F.P. 1928, “A Mathematical Theory of Saving,” Economic Journal,
38(December): 543-559. Reprinted in Stiglitz and Uzawa (1969).
2. Finite life and the Blanchard p-death model
*[B&F Chapter 3.3-5]
[B&S Chapter 3.4 and Appendix to Chapter 3]
*Blanchard, Oliver J. 1985, “Debts, Deficits, and Finite Horizons,” Journal of
Political Economy, 93 (April): 223-247.
3. Endogenous growth models
*[Chapter 3.A.1-6 in Romer]
[B&S Chapters 1.3, 4.1-3, 5.1-2 in Mankiw]
*Jones, Charles I. 1995, “R&D-Based Models of Economic Growth,” Journal
of Political Economy, 103 (August): 759-784.
Lucas, Robert E., Jr. 1988, “On the Mechanics of Economic Development,”
Journal of Monetary Economics, 22(July): 3-42.
Romer, Paul M. 1986, “Increasing Returns and Long Run Growth,” Journal of
Political Economy, 94(October): 1002-1037.
Romer, Paul M. 1990, “Endogenous Technological Change,” Journal of
Political Economy, 98(October, Part 2): S71-S102.
4. Growth Empirics II: convergence revisited and beyond
*[Chapter 3.A.7, 3.B.8-12 in Romer]
胡勝正、詹維玲 (1999)，「台灣總要素生產力決定因素之研究」，《自
由中國之工業》，89，1-50。
Hall, Robert E. and Charles I. Jones 1995, “Why Do Some Countries Produce
So Much More Output per Worker than Others?” Quarterly Journal of
Economics, 114(February): 83-116.
Jones, Charles I. 1995, “Time Series Tests of Endogenous Growth Models,”
Quarterly Journal of Economics, 110(May): 495-525.
Kremer, Michael 1993, “Population Growth and Technological Change: One
Million B.C. to 1990,” Quarterly Journal of Economics, 108(August):
681-716.
*Young, Alwyn (1995), "The Tyranny of Numbers: Confronting the Statistical
Realities of the East Asian Growth Experience," Quarterly Journal of
Economics, 110(3): 641-680.
III. Short-Run Economic Fluctuation and Monetary Policy: Rational Expectations and the
New Keynesians
1. Rational expectations and Lucas imperfect information model
[Chapter 6.A.1-3 in Romer]
[B&F pp. 356-361]
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[Mankiw undergrad. P.352]
Lucas, Robert E., Jr. 1973, “Some International Evidence on Output-inflation
Tradeoffs,” American Economic Review, 63 (June): 326-334.
Lucas, Robert E., Jr. 1976, “Econometric Policy Evaluation: A Critique,”
Carnegie-Rochester Conference Series on Public Policy, 1: 19-46.
Sargent, Thomas J., and Neil Wallace 1975, “’Rational Expectations,’ the
Optimal Montary Instrument, and the Optimal Money Supply Rule,”
Journal of Political Economy, 83 (April): 241-254.
2. Wage contracting models
[Chapter 6.B.4-6 in Romer]
[B&F Chapter 8.2]
Barro, Robert J. 1977, “Long-Term Contracting, Sticky Prices, and Monetary
Policy,” Journal of Monetary Economics, 3(July): 305-316.
Fischer, Stanley 1977, “Lomg-Term Contracts, Rational Expectations, and the
Optimal Money Supply Rule,” Journal of Political Economy,
85(February): 191-205. Reprinted in Mankiw and Romer (1991).
Taylor, John B. 1979, “Staggered Wage Setting in a Macro Model,” American
Economic Review, 69(May): 108-113. Reprinted in Mankiw and Romer
(1991).
3. Sticky-price menu cost models and coordination failure
[Chapter 6.C.8-12 in Romer]
[B&F Chapter 8.1]
Ball, Laurence, N. Gregory Mankiw and David Romer 1988, “The New
Keynesian Economics and the Output-Inflation Tradeoff,” Brookings
Papers on Economic Activity, no. 1, 1-65. Reprinted in Mankiw and
Romer (1991).
*Blanchard, Oliver J., and Nobuhiro Kiyotaki 1987, “Monopolistic
Competition and the Effects of Aggregate Demand,” American
Economic Review, 77 (September): 647-666. Reprinted in Mankiw and
Romer (1991).
Cooper, Russell W. and Andrew John 1988, “Coordinating coordination
Failures in Keynesian Models,” Quarterly Journal of Economics, 103
(August): 441-463. Reprinted in Mankiw and Romer (1991).
*Mankiw, N. Gregory 1985, “Small Menu Costs and Large Business Cycles: A
Macroeconomic Model of Monopoly,” Quarterly Journal of Economics,
100 (May): 529-539. Reprinted in Mankiw and Romer (1991).
4. Credibility and time inconsistent monetary policy
*[Chapters 10.4-5 in Romer]
*[B&F Chapter 11]
[Barro undergrad. pp. 745-50]
[Mankiw undergrad. Chapter 14]
Alesina, Alberto and Lawrence H. summers 1993, “Central Bank
Independence and Macroeconomic Performance,” Journal of Money,
Credit, and Banking, 25(May): 151-162.
*Barro, Robert J. and David B. Gordon 1983, “Rules, Discretion and
Reputation in a Model of Monetary Policy,” Journal of Monetary
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Economics, 12 (July): 101-121. Reprinted in Persson and Tabellini
(1994).
Kydland, Finn E. and Edward Prescott 1977, “Rules Rather than Discretion:
The Inconsistency of Optimal Plans,” Journal of Political Economy, 85
(June): 473-492. Reprinted in Persson and Tabellini (1994).
*Rogoff, Kenneth 1985, “the Optimal Degree of Commitments to an
Intermediate Monetary Target,” Quarterly Journal of Economics, 100
(November): 1169-1189. Reprinted in Persson and Tabellini (1994).
IV. Calibration
*Dawkins, C., T.N. Srinivasan, and J. Whalley (2001), "Chapter 58 Calibration," in J.J.
Heckman and E. Leamer (eds.), Handbook of Econometrics, Volume 5, pp. 3655-3705,
Elsevier Science.
V. Macroeconomic Linkages to the Farming Sector
Barclay, Tom and Luther Tweeten (1988), "Macroeconomic Policy Impacts on United States
Agriculture," Agricultural Economics (Journal of the International Association of
Agricultural Economists), 1, 291-307.
Chambers, Robert and Richard Just (1981), "Effects of Exchange Rates Changes on U.S.
Agriculture," American Journal of Agricultural Economics, 63, 32-64.
Firch, Robert (1964), "Stability of Farm Income in a Stabilizing Economy," Journal of Farm
Economics, 46, 323-340.
Higgs, Peter J. (1986), Adaptation and Survival in Australian Agriculture, Oxford: Oxford
University Press.
Gardner, Bruce (1976), "The Effects of Recession on the Rural-Farm Economy," Southern
Journal of Agricultural Economics, 8, 13-22.
Schuh, G. Edward (1976), "The New Macroeconomics of Agriculture," American Journal of
Agricultural Economics, 58, 802-811.
Schultz, Theodore W. (1945), Agriculture in an Unstable Economy, New York: McGRAWHill.
Tweeten, Luther (1989), "Chapter Six: Macroeconomic Linkages," in L. Tweeten, Farm
Policy Analysis, Boulder Colorado: Westview Press.
Tweeten, Luther (1983), "Impact of Federal Fiscal-Monetary Policies on Farm Structure",
Southern Journal of Agricultural Economics, 15, 61-68.
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