• Christian Duttweiler (office assistant); 255-5618; 402 Uris Hall; shelloffice@cornell.edu.
  
  
• Chao Gu (teaching assistant); 447 Uris Hall; cg223@cornell.edu

B. Overlapping Generations

K. Shell and B. Smith, "Overlapping-Generations Model and Monetary Economics," in the New Palgrave Dictionary of Money and Finance (J. Eatwell, M. Milgate, and P. Newman, eds.), Vol. 3, London: Macmillan, 1992, 104-109.

Paul A. Samuelson, "An Exact Consumption-Loan Model of Interest with or without the Social Contrivance of Money," Journal of Political Economy, December 1958, 467-482.

D. Cass and K. Shell, "In Defense of a Basic Approach," in Models of Monetary Economics, (J. Kareken and N. Wallace, eds.) Federal Reserve Bank of Minneapolis, 1980, 251-260.

P. Diamond, "National Debt in a Neoclassical Growth Model", American Economic Review, December 1965, 1126-1150.

K. Shell, "Notes on the Economics of Infinity," Journal of Political Economy, September/October 1971, 1002-1011.

D. Gale, "Pure Exchange Equilibrium of Dynamic Economic Models," Journal of Economic Theory, February 1973, 12-36.

C. Extrinsic Uncertainty

R. Shiller, "Do Stock Prices Move Too Much to be Justified by Subsequent Changes in Dividends?," American Economic Review, June 1981, 421-436.

K. Shell, "Monnaie et Allocation Intertemporelle," [title and abstract in French, text in English] mimeo, Séminaire d'Econométrie Roy-Malinvaud, Centre National de la Recherche Scientifique, Paris, November 21, 1977. (Forthcoming in Macroeconomic Dynamics.)

D. Cass and K. Shell, "Do Sunspots Matter?" Journal of Political Economy, April 1983, 193-227.

C. Azariadis, "Self-Fulfilling Prophecies," Journal of Economic Theory, December 1981, 380-396.

K. Shell and R. Wright, "Indivisibilities, Lotteries and Sunspot Equilibria," Economic Theory, January 1993, 1-17.

K. Shell, "Sunspot Equilibrium," in The New Palgrave: A Dictionary of Economics (J. Eatwell, M. Milgate, and P. Newman, eds.), Vol. 4, New York: Macmillan, 1987, 549-551.

Karl Shell and Bruce Smith, "Sunspot Equilibrium", in the New Palgrave Dictionary of Money and Finance (J. Eatwell, M. Milgate, and P. Newman, eds.), Vol. 3, London: Macmillan, 601-605.

D. Growth

D. Cass, "Optimum Growth in an Aggregative Model of Capital Accumulation," Review of Economic Studies, July 1965, 233-240.

K. Shell, "Toward a Theory of Inventive Activity and Capital Accumulation," American Economic Review, May 1966, 62-68.

K. Shell, "Inventive Activity, Industrial Organization and Economic Growth," in Models of Economic Growth, (J. Mirrlees and N. Stern) Macmillan and Halsted, 1973, 77-100

P. Romer, "Increasing Returns and Long-Run Growth," Journal of Political Economy, October 1986, 1002-1037.

P. Romer, "Endogenous Technological Change," Journal of Political Economy, October 1990, S71-S102.

E. Banking

D. Diamond, and P. Dybvig, "Bank Runs, Deposit Insurance, and Liquidity," Journal of Political Economy, June 1983, 401-19.

F. Money and Search

N. Kiyotaki and R. Wright, "On Money as a Medium of Exchange," Journal of Political Economy, August 1989: 927-954.

J. Peck, "Non-Connectedness of the Set of Equilibrium Money Prices: The Static Economy," Journal of Economic Theory, December 1987, 348-354.

R. Garratt, "The Connectedness of the Set of Equilibrium Money Prices Depends on the Choice of the Numeraire," Journal of Economic Theory, February 1992, 206-217.

P. Diamond and J. Mirrlees, "Optimal Taxation and Public Production I: Production Efficiency," American Economic Review, March 1971, 8-27.

A. Ando and K. Shell, "Demand for Money in a General Portfolio Model in the Presence of an Asset that Dominates Money," Appendix to Chapter 12 in The Brookings Model: Perspective and Recent Developments, (G. Fromm and L. R. Klein, eds.) North Holland, 1975, 560-563.

K. Shell, "Applications of Pontryagin's Maximum Principle to Economics," in Mathematical Systems Theory and Economics I, (H. W. Kuhn and G. P. Szego, eds.) Springer Velag, 1969, 255-270.

T. Sargent, Dynamic Macroeconomic Theory, Cambridge: Harvard University Press, 1987, Chapter 3, 92-129.

SB. Introduction

Sargent, Chapters 7 & 8, 231-337.

D. Cass, M. Okuno and I. Zilcha, "The Role of Money in Supporting the Pareto Optimality of Competitive Equilibrium in Consumption-Loan Type Models," Journal of Economic Theory, February 1979, 41-80.

Y. Balasko and K. Shell, "The Overlapping-Generations Model, I: The Case of Pure Exchange without Money, " Journal of Economic Theory, December 1980, 281-306.

Y. Balasko and K. Shell, "The Overlapping-Generations Model, II: The Case of Pure Exchange with Money," Journal of Economic Theory, February 1981, 112-142. See also "Erratum," Journal of Economic Theory, December 1981, 471.

Y. Balasko and K. Shell, "Lump-Sum Taxes and Transfers: Public Debt in the Overlapping-Generations Model," in Essays in Honor of Kenneth J. Arrow, Vol. II: Equilibrium Analysis (W. Heller, R. Starr, and D. Starrett, eds.), New York: Cambridge University Press, 1986, Chapter 5, 121-153.

C. Ghiglino and K. Shell, "The Economic Effects of Restrictions on Government Budget Deficits," Journal of Economic Theory, September 2000, 106-137.

SC. Extrinsic Uncertainty

C. Azariadis and R. Guesnerie, "Sunspots and Cycles", Review of Economic Studies, October 1986, 725-738.

G. Antinolfi and T. Keister, “Options and Sunspots in a Simple Monetary Economy,” Economic Theory, 1998, 295-315.

J. Peck and K. Shell, "Market Uncertainty: Correlated and Sunspot Equilibria in Imperfectly Comptetitive Economies," The Review of Economic Studies, Vol. 58(5), October 1991, 1011-1019.

SD. Growth

R. Courant, Differential and Integral Calculus, Chapter VII (Volume 2) on "Calculus of Variations," New York: Wiley - Interscience, 1968, 491-521.

L. Pontryagin et al., The Mathematical Theory of Optimal Processes, New York: Wiley - Interscience, 1962.

K. Shell, "Applications of Pontryagin's Maximum Principle to Economics," in Mathematical Systems Theory and Economics I, (H. W. Kuhn and G. P. Szego, eds.) Springer Velag, 1969, 241-292.

K. Shell and J. Stiglitz, "The Allocation of Investment in a Dynamic Economy," Quarterly Journal of Economics, November 1967, 592-609.

K. Shell, M. Sidrauski, and J. Stiglitz, "Capital Gains, Income, and Saving," Review of Economic Studies, January 1969, 15-26.

SE. Banking

N. Wallace, "Another Attempt to Explain an Illiquid Banking System: The Diamond and Dybvig Model with Sequential Service Taken Seriously," Federal Reserve Bank of Minneapolis Quarterly Review, Fall 1988, 3-16.

N. Wallace, "A Banking Model in Which Partial Suspension is Best," Federal Reserve Bank of Minneapolis Quarterly Review, Fall 1990, 11-23.

J. Peck and K. Shell, "Equilibrium Bank Runs," Journal of Political Economy, February 2003, 103-123.

J. Peck and K. Shell, "Bank Portfolio Restrictions and Equilibrium Bank Runs," Working Paper No. 99-07, Ithaca: Cornell University, Center for Analytic Economics, July 1999. Revised June 2003.

SF. Money and Search

Sargent, Chapter 2, 57-91.

Books on Reserve at 401 Olin Library

T. Sargent, Dynamic Macroeconomic Theory, Cambridge: Harvard University Press, 1987.

R. Manuelli and T. Sargent, Exercises in Dynamic Macroeconomic Theory, Cambridge: Harvard University Press, 1987.

L. Pontryagin et al., The Mathematical Theory of Optimal Processes, New York: Wiley - Interscience, 1962.

R. Courant, Differential and Integral Calculus, New York: Wiley - Interscience, 1968.