James Murray

Monetary Thoery and Policy

Fall 2009

Instructor:
James Murray, Ph.D.
Office: 403W Wimberly Hall
Office hours: 9:00am-10:00am Monday through Friday.
Phone: 608-785-5140
E-mail: murray.jame@uwlax.edu

Exams
Exam 1
Exam 2
Exam 3

Readings / Notes

Demand for Money
- Demand for Money as an Asset: Branson (1989), Chapter 14 (On Desire2Learn).
- Demand for Money for transactions: Laidler (1993), Chapter 6 (On Desire2Learn).
- Craig, B. and Rocheteau, G., 2005, "Rethinking the Welfare Cost of Inflation," Federal Reserve Bank of Cleveland Economic Commentary
Monetary Policy Targets
- Cecchitti, S.G. and Ehrmann, M. (1999): "Does Inflation Targeting Increase Ouptut Volatility? An International Comparison of Policy Makers Preferences and Outcomes," NBER Working Paper No. 7426.
- Garrison, R.W. (2009): "Interest Rate Targeting During the Great Moderation: A Re-appraisal," Cato Journal.
Keynesian Model
- Kapinos, P.S. (2009): ``A New Keynesian Workbook,'' Unpublished manuscript available at:
  http://papers.ssrn.com/sol3/papers.cfm?abstract_id=961168.
- Notes on New Keynesian Model: Presentation, Printer Friendly.
Financial Crisis
- Anderson, R.G., and Gascon, C.S. (2009): "The Commerical Paper Market, the Fed, and the 2007-2009 Financial Crisis," Federal Reserve Bank of St. Louis Review, 91: 589-612.
Open Economy Issues
- Dornbusch, R. (1976): "Expectations and Exchange Rate Dynamics," Journal of Political Economy, 84: 1161-1176.

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Monetary Thoery and Policy

Fall 2009