October 2nd

Lecture Plan of Kaiji Chen
October 2^nd. 10:15 AM-12:00PM

Business Cycle Model with Divisible Labor Supply

• 
  Endogenous labor supply
  

- Li (1999)

• 
  Standard Model
  

- Acemoglu Chapter 17.3

• 
  Hansen and Wright (1992)
  
• 
  Krusell 6.2
  

October 2^nd, 2:15 PM- 4:00 PM

Business Cycle Model with Indivisible Labor Supply

• 
  Labor Lottery
  

- Krueger-QM Chapter 9

• 
  A Full Blown Model with Indivisible Labor
  

- Hansen and Wright (1992)

- Chang and Kim (2005)

October 4^th, 10:15AM-12:00 PM

The Great Depression from a Neoclassical Perspective

• 
  Cole and Ohanian (1999)
  
• 
  Kehoe and Prescott (2002)
  

Reference

• 
  Yongsung Chang and Sun-Bin Kim. On the aggregate labor supply. Federal
  

Reserve Bank of Richmond Economic Quarterly, pages 21{37, Winter 2005

• 
  Harold Cole and Lee Ohanian. The great depression in the united states from
  

a neoclassical perspective. Federal Reserve Bank of Minneapolis, Quarterly

Review, 23(1):2{23, 1999

• 
  Gary Hansen and Randy Wright. The labor market in business cycle theory.
  

Federal Reserve Bank of Minneapolis, Quarterly Review, 16(2):1{12, 1992.

• 
  Timothy Kehoe and Edward Prescott. Great depressions of the twentieth cen-
  

tury. Review of Economic Dynamics, 5:1{18, 2002.

• 
  Victor E. Li. Can market-clearing models explain U.S. labor market °uctua-
  

tions? Federal Reserve Bank of St. Louis Review, pages 35{49, July 1999.