Curso Bogotá Summer School in Economics

The course will cover both the macroeconomics of complete markets as well some important results in economies with frictions. In the case of complete markets, emphasis will be put on long run results of monetary and fiscal policies, as well as the role of technology shocks. The impact of incomplete markets on wages and unemployment will be analyzed using the search and matching framework. Optimal consumption/saving decisions with incomplete markets will also be considered. The impact of market power and markups on economic growth will be covered. The role of rigidities associated with price changes and of constraints on interest rates (zero lower bound) on the impact of monetary policies will be also analyzed. Finally, the course will present a benchmark framework to analyze the effect of policies and frictions on the size distribution and the dynamic of firms and aggregate productivity.