Material for Graduate Students
We analyze the properties of a number of demand functions that have been used in international macroeconomic and trade models as alternatives to CES. These demand functions generate variable markups by means of variable elasticity of demand, and yield closed-form relationships between markups and prices. We exploit the tractability of the demand systems to discuss the pass-through of cost-shocks into prices and the distribution of markups and pass-through in the economy.
Spring 2016 – Intermediate Macroeconomics (Undergraduate); Instructor: William Nordhaus
Spring 2015 – General Economic Theory: Macroeconomics (Graduate); Instructor: Giuseppe Moscarini
Fall 2014 – Intermediate Macroeconomics (Undergraduate); Instructor: Michael Peters