Professor Karl Shell |
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There are two lectures per week: Monday and Wednesday, 2:00 pm to 3:00 pm, in Rockefeller Hall, Room 122. There is one section meeting per week: Friday, 10:30 am to 11:45 am, in Goldwin Smith Hall, Kaufman Auditorium. Professor Shell's office hours are on Monday, 3:30 pm to 4:30 pm (and by appointment through Christian Duttweiler), in 402 Uris Hall. Liyan Yang's office hours are on Mondays and Wednesdays, 10:30 am to 12:00 noon, in 445 Uris Hall. Extra TA Office Hours: Monday, May 8 Review Session: Tuesday, May 9 Final Exam: Problem Sets Problem Set 1 (Due Monday, January 30) First Midterm Quiz: Second Midterm Quiz: Note: The quiz is designed to be completed in one hour; Macroeconomics Qualifying Exams: Friday, June 9, 2006 Reading List A. Introduction J. Hicks, 2.0.CO;2-E" target="_blank">"Mr. Keynes and the Classics," Econometrica, April 1937, 147-159. K. Arrow, "The Role of Securities in the Optimal Allocation of Risk-Bearing," Review of Economic Studies, April 1964, 91-96. R. Lucas, "Asset Prices in an Exchange Economy," Econometrica, November 1978, 1429-1445. Y. Balasko and K. Shell, "Lump-Sum Taxation: The Static Economy," in General Equilibrium, Growth, and Trade: The Legacy of Lionel McKenzie, II. (R. Becker, M. Boldrin, R. Jones and W. Thomson, eds.) New York: Academic Press, 1993, 168-180. W. Baumol, "The Transactions Demand for Cash: an Inventory Theoretic Approach," Quarterly Journal of Economics, November 1952, 545-556. J. Tobin, "The Interest-Elasticity of the Transactions Demand for Cash," Review of Economics and Statistics, August 1956, 241-247. H. Uzawa, "On a Two-Sector Model of Economic Growth II," Review of Economic Studies, 1963, 105-118. B. Overlapping Generations 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. K. Shell, "Notes on the Economics of Infinity," Journal of Political Economy, September/October 1971, 1002-1011. 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. D. Gale, "Pure Exchange Equilibrium of Dynamic Economic Models," Journal of Economic Theory, February 1973, 12-36. P. Diamond, "National Debt in a Neoclassical Growth Model", American Economic Review, December 1965, 1126-1150. 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. 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, "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. 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 and B. 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. J. Bhattacharya, M. Guzman and K. Shell, "Price Level Volatility: A Simple Model of Money Taxes and Sunspots", in Journal of Economic Theory, Vol. 81, August 1998, 401-430. D. Growth R. M. Solow, "A Contribution to the Theory of Economic Growth," Quarterly Journal of Economics, February 1956, 65-94. 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. K. Shell, "Applications of Pontryagin's Maximum Principle to Economics" in Mathematical Systems Theory and Economics, I (H. W. Kuhn and G. P. Szegö, eds.), Berlin: Springer Verlag, 1969, 241-292. (The "Varenna Lectures.") K. Shell and J. Stiglitz, "The Allocation of Investment in a Dynamic Economy," Quarterly Journal of Economics, Vol. 81(325), November 1967, 592-609. K. Shell, M. Sidrauski, and J. Stiglitz, "Capital Gains, Income, and Saving," The Review of Economic Studies, Vol. 36(1) No. 105, January 1969, 15-26. "Capital Gains: Blue Machines and Red Machines" (with Luís Francisco Aguiar-Conraria), Singapore Economic Review, Vol. 50 (Special Issue No.1), 2005, 437-448. |
