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Course Info

  • Course Number / Code:
  • 14.462 (Spring 2007) 
  • Course Title:
  • Advanced Macroeconomics II 
  • Course Level:
  • Graduate 
  • Offered by :
  • Massachusetts Institute of Technology (MIT)
    Massachusetts, United States  
  • Department:
  • Economics 
  • Course Instructor(s):
  • Prof. Olivier Blanchard
    Prof. Guido Lorenzoni 
  • Course Introduction:

  • 14.462 Advanced Macroeconomics II

    Spring 2007

    Course Highlights

    14.462 Advanced Macroeconomics II

    Spring 2007

    Graph of a persistent shock. At long times, financial frictions approaches frictionless.

    Graph of a persistent shock with ρ = 0.5. Learn more in Countercyclical Liquidity Premia in lecture notes. (Figure courtesy of Prof. Lorenzoni.)

    Course Description

    Professor Blanchard will discuss shocks, labor markets and unemployment, and dynamic stochastic general equilibrium models (DSGE models). Professor Lorenzoni will cover demand shocks, macroeconomic effects of news (with or without nominal rigidities), investment with credit constraints, and liquidity with its aggregate effects.

    Recommended Citation

    For any use or distribution of these materials, please cite as follows:

    Olivier Blanchard and Guido Lorenzoni, course materials for 14.462 Advanced Macroeconomics II, Spring 2007. MIT OpenCourseWare (, Massachusetts Institute of Technology. Downloaded on [DD Month YYYY].

    Technical Requirements

    Special software is required to use some of the files in this course: .xls.


This course content is a redistribution of MIT Open Courses. Access to the course materials is free to all users.

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