Asriyan, V., L. Laeven, A. Martin, A. Van der Ghote and V. Vanasco,
"Falling Interest Rates and Credit Reallocation: Lessons from General Equilibrium"
Forthcoming in The Review of Economic Studies, 2024
Week 1 June 21 – June 25
Monetary Policy, Inflation and Unemployment
Instructor: Jordi Galí
Selected Topics:
• The New Keynesian model with sticky prices and wages
• Wage inflation and unemployment: theory and evidence
• Real wage rigidities and monetary policy trade-offs
• Labor market frictions, unemployment, and monetary policy
Dates: June 21 – 25
Time: Lectures: 11:00 – 13:00 h (10 hours)
Price: 600 Euros (Students: 400 Euros)
Lectures:
Measuring the Effects of Fiscal Policy
Instructor: Fabio Canova
Selected Topics:
• Fiscal shocks: empirical evidence
• Fiscal shocks in stochastic general equilibrium models
• Fiscal rules and debt feedback
• Fiscal and monetary policy interactions
• Fiscal shocks at the time of crises
Dates: June 21 – 25
Time: Lectures: 14:30 – 16:30 h (10 hours) Computer demonstrations: 17:00 – 18:00 h (5 hours)
Price: 850 Euros (Students: 550 Euros)
Slides:
Week 2 June 28 – July 2
Financial Crises and Depressions
Instructor: Hans-Joachim Voth
Selected Topics:
• The origins of bubbles and lending booms: past, present and future
• Depressions and credit booms gone wrong: crédito linkages, multipliers and real effects
• Monetary policy and asset prices: how should central banks react to bubbles?
• Ruling out instability: what role for bank supervision and financial regulators?
Dates: June 28 – July 2
Time: 09:00 – 11:00 h (10 hours)
Price: 600 Euros (Students: 400 Euros)
Slides:
Economic Growth and Development
Instructor: Xavier Sala-i-Martin
Selected Topics:
• The world distribution of income
• Growth, poverty and inequality: the role of globalization
• Neoclassical growth theory: the power of diminishing returns
• The effectiveness of international aid in promoting economic development. Randomized field experiments
• The role of incentives
• Government, taxation, the Welfare State and growth
• Ideas and growth: R&D, patents. AIDS, malaria and generics
• Africa: successes, failures, diagnostics and priorities
Dates: June 28 – July 2
Time: 11:30 – 13:30 h (10 hours)
Price: 600 Euros (Students: 400 Euros)
Asset Bubbles and Economic Policy
Instructor: Jaume Ventura
Selected Topics:
• Review of empirical research on asset prices and interest rates
• A macroeconomic framework to study the effects of asset bubbles
• The welfare effects of different types of bubbles
• Application (1): international propagation of financial shocks and global imbalances
• Application (2): credit booms, credit busts, and the current crisis
Dates: June 28 – July 2
Time: 15:00 – 17:00 h (10 hours)
Price: 600 Euros (Students: 400 Euros)
Lectures
Nº 1
Nº 2
Nº 3
Nº 4
Fabio Canova
Fabio Canova earned his PhD in Economics at the University of Minnesota in 1988. He held academic positions at Brown University, Rochester University, the European University Institute, the University of Catania, the University of Modena, Universitat Pompeu Fabra and University of Bern. He has been a Research Professor at IGIER-Bocconi and Part-Time Professor at the University of Southampton and the London Business School. He is currently holding a Research Professorship with ICREA. He has taught courses at various summer schools, at the Bank of Italy, the ECB, the Bank of England, UK Treasury and UK Foreign Office, Riksbank, Bundesbank, Swiss National Bank, Banco de Argentina, Banco do Brazil, Bank of Spain, Banco do Portugal, Reserve Bank of South Africa, Banco de Peru among other places and he has been a consultant to the Bank of England, the IMF, the ECB, the Bank of Spain and the Bank of Italy. He is a Research Fellow at the CEPR, a Research Associate at CREI, a Member of the CEPR Dating Committee, a Member of the Scientific Committee of the Euro Area Business Cycle Network (EABCN), a Member of the Advisory Board of Dynare, Program Director of the Budapest School for Central Banking Studies, Founder of the Applied Macroeconomic Network (AMeN) and Co-editor of the Journal of the European Economic Association. His research interests include quantitative macroeconomics, monetary theory, fiscal policy, international business cycles and macroeconometrics.
Selected publications:
- “How much Structure in Empirical Models”, Palgrave Handbook of Applied Econometrics, 2008.
- Methods for Applied Macroeconomic Research, Princeton University Press, (Princeton, NJ), 2007.
- “Similarities and Convergence in G7 Cycles”, (with M. Ciccarelli and E. Ortega), Journal of Monetary Economics, 2007.
- “Price Dispersion in Monetary Union: the Role of Fiscal Shocks”, (with E. Pappa), Economic Journal, 2007.
- “Estimating Multicountry VARs”, (with M. Ciccarelli), International Economic Review, forthcoming.
- “Back to Square One: Identification Issues in DSGE Models”, (with L. Sala), Journal of Monetary Economics, forthcoming.
Jordi Galí
Jordi Galí earned his PhD in Economics at the Massachusetts Institute of Technology (MIT) in 1989. Currently he is Director and Senior Researcher of the Center for Research in International Economics (CREI) and a Professor at Universitat Pompeu Fabra. He has held academic positions at New York University and Columbia University. He has been a Visiting Professor at MIT. He has served as a co-editor of the Journal of the European Economic Association, and is currently an associate editor of the American Economic Journal-Macroeconomics and the International Journal of Central Banking. He is a Research Fellow at the CEPR, a Research Associate at the NBER, and a Fellow of the Econometric Society. He was co-recipient of the 2005 Yrjo Jansson Award in Economics. His research interests include macroeconomics and monetary theory.
Selected publications:
- Monetary Policy, Inflation and the Business Cycle: An Introduction to the New Keynesian Framework, Princeton University Press, (Princeton, NJ), 2008.
- “Real Wage Rigidities and the New Keynesian Model”, (with O. Blanchard), Journal of Money, Credit and Banking, supplement to vol. 39, no. 1, 2007.
- “Monetary Policy and Exchange Rate Volatility in a Small Open Economy,” (with T. Monacelli), Review of Economic Studies, 2005.
- “Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory”, (with R. Clarida and M. Gertler), Quarterly Journal of Economics, January 2000.
- “The Science of Monetary Policy: A New Keynesian Perspective,” (with R. Clarida and M. Gertler), Journal of Economic Literature, December 1999.
Xavier Sala-i-Martin
Xavier Sala-i-Martin earned his PhD in Economics at Harvard University in 1990. Currently he is Professor in the Department of Economics at Columbia University, and a Visiting Professor at Universitat Pompeu Fabra (UPF). He has been an Associate Professor at the Department of Economics at Yale University and Visiting Professor at Harvard University. He has also taught at UPF, Harvard University, New York University, Yale University and the International Monetary Fund, among other places. He is senior economic adviser to the World Economic Forum (WEF), author of the Global Competitiveness Report of the WEF, Research Associate at the NBER and has been consultant to the World Bank and the International Monetary Fund. In 2006 he was the President of FC Barcelona and he is now the President of its Economic Commission. His research interests include economic growth, macroeconomics, public finance and social security, health and population economics, and monetary economics.
Selected publications:
- “The World Distribution of Income: Falling Inequality and Convergence, Period”, Quarterly Journal of Economics, May 2006.
- “Determinants of Long-Term Growth: A Bayesian Average of Classical Estimates (Bace) Approach” (with G. Doppelhoffer and R. Miller), American Economic Review, September 2004.
- “The Economic Tragedy of the XXth Century: Growth in Africa” (with E.V. Artadi), inAfrican Competitiveness Report of the World Economic Forum, September 2003.
- Economic Growth, 2nd Edition, MIT Press, Cambridge, MA, 2003 (with R. Barro).
- “Health Investment Complementarities under Competing Risks,” (with W. Dow and T. Philipson), American Economic Review, December 1999.
Jaume Ventura
Jaume Ventura earned his PhD in Economics at Harvard University in 1995. Currently he is a Senior Researcher at Center for Research in International Economics (CREI). Previously, he has held academic positions at MIT and the University of Chicago. He is co-director of the International Macroeconomics Programme of the CEPR and has served as editor of the Economic Journal. He is also a Research Associate at the NBER, and has served as a consultant to the IMF, the World Bank and the Inter-American Development Bank. His research interests include international economics and macroeconomics.
Selected publications:
- “Comparative Advantage and the Cross-section of Business Cycles (with A. Kraay) Journal of the European Economic Association, December 2007.
- “Country Portfolios” (with A. Kraay, N. Loayza and L. Servén) Journal of the European Economic Association, June 2005.
- “Current Accounts in the Long and Short Run” (with A. Kraay) NBER Macroeconomics Annual 2002, July 2003.
- “Trade Integration and Risk Sharing” (with A. Kraay), European Economic Review, June 2002.
- “A Portfolio View of the Current Account Deficit”, Brookings Papers, July 2001.
- “Current Accounts in Debtor and Creditor Countries” (with A. Kraay), Quarterly Journal of Economics, November 2000.
Hans-Joachim Voth
Hans-Joachim Voth earned his PhD in Economics at Oxford University in 1996. Currently he is ICREA Research Professor of Economics and Economic History at UPF. He is a CEPR Research Fellow, and a member of the editorial board of the Journal of Economic History. He has won the Gino Luzzatto Prize for the best thesis in European economic history, the Alexander Gershenkron Prize for best thesis on non-US topics, and a Leverhulme Prize for outstanding researchers under the age of 35. His work has appeared in the Quarterly Journal of Economics, American Economic Review, the European Economic Review, the Journal of Economic History, Explorations in Economic History, and in a book with Oxford University Press. He has held visiting appointments at Stanford, MIT, Princeton and Stern Business School (NYU). He has acted as an advisor to the German Finance Ministry’s Working Group on Financial Market Reform; to the CEO of the German Stock Exhange; and to the German Trade Unions Movement (DGB). His research interests are in financial and economic history and macroeconomics.
Selected publications:
- “Betting on Hitler: The Value of Political Connections in Nazi Germany” (with T. Ferguson),Quarterly Journal of Economics, May2008.
- “Interest Rate Restrictions in a Natural Experiment: Loan Allocation and the Change in the Usury Laws in 1714” (with P. Temin), Economic Journal, May 2008.
- “Credit Rationing and Crowding Out during the Industrial Revolution: Evidence from Hoare’s Bank, 1702-1862” (with P. Temin), Explorations in Economic History, July 2005.
- “Riding the South Sea Bubble” (with P. Temin), American Economic Review, December 2004.
- “With a Bang, Not a Whimper: Pricking Germany’s “Stockmarket Bubble” in 1927 and the Slide into Depression”, Journal of Economic History, 2003.
Download file
Download file
Barcelona receives thousands of visitors, especially in summer.
Please, make your reservations directly as soon as possible.
Residence Halls
Residence Hall for Researchers (comfort)
C/Hospital, 64
08001-Barcelona
Tel. (+34) 93 443 8610
Fax. (+34) 93 442 8202
investigadors@resa.es
https://www.resa.es/
Residència Universitària “La Ciutadella”
Pg. Pujades, 33-37
Tel. (+34) 902444447
resa@resa.es
https://www.resa.es
Residència Universitària Campus del Mar
Passeig Salvat Papasseit, 4
08003 Barcelona
Tel. (+34) 933 904 000
https://www.resa.es
Residencia Melondistrict
c/Sancho de Ávila 22
Tel. (+34) 932178812
https://www.melondistrict.com
Residencias Juevenes-El Campus
C/Mallorca, 191, Pral.
jmpresi@arrakis.es
https://www.arrakis.es/~jmpresi/index.htm
APIMEC Residencia Universitaria
C/Bruc, 136
residencia.apimec@caixaterrasa.com
https://www.habitatgejove.com/arrel_eg/index_i.html
BARCELONAUTA
C/Sardenya, 326-328 entol. 2
bcnauta@comb.es
Hotels
Hotel H10 Marina Barcelona (4*)
Address: Av Bogatell, 64-68
Phone: 933097917 / 933003310 (fax)
Web: https://www.h10.es
E-mail: h10.marina.barcelona@h10.es
Hotel Icaria Barcelona (4*)
Address: Av Icària, 195-197
Phone: 932218200 / 932212458 (fax)
Web: https://www.sbhotels.es
E-mail: hotel@icaria.barcelona
Hotel Silken Diagonal (4*)
Address: Av. Diagonal, 205
Phone: 934 895 300 / 934 895 309 (fax)
Web: https://www.hoteles-silken.com/hoteles/index2.php?idhotel=19
E-mail: hotel.diagonalbcn@hoteles-silken.com
Hotel Glòries (3*)
Address: Padilla, 173 (with Gran Via)
Phone: 932 650 808
Web: https://www.hotelglories.com/
E-mail: reservas@hotelglories.com
Hotel Park Hotel (3*)
Address: Av Marquès de l’Argentera, 11
Phone: 933196000 / 933194519 (fax)
E-mail: parkhotel@parkhotelbarcelona.com
Hotel Pere IV (3*)
Address: C Pallars, 128*130
Phone: 933 209 650 / 933 009 060 (fax)
Web: https://www.euro-mar.com
E-mail: hotelpereiv@euro-mar.com
Hotel Oasis II (2*)
Address: Pla Palau, 17
Telèfon: 933194396 / 933104874 (fax)
Hotel Lyon (1*)
Address: C General Castaños, 6
Phone: 933194360 / 933194431 (fax)
Web: https://www.gargallo-hotels.com
E-mail: lyon@gargallo-hotels.com
Useful Links
How to get to the city from the airport?
Please visit: Barcelona Tourism (then have a look at “planning your journey”)
There are several ways:
- by bus: Aerobus. This bus takes you to and from the airport every 15 minutes and stops at Estació de Sants, Plaça Espanya, Plaça Catalunya i Passeig de Gràcia. A ticket costs € 3.90
- by bus: 106. This bus takes you only to Plaça Espanya. A ticket costs €1.30
- by train: RENFE. Trains depart every 30 minutes and stop at Barcelona Sants, Passeig de Gràcia and Estació de França
- by taxi. A taxi ride can cost from € 30 to 35 depending on the day, time, etc.
- by rental car
Information about transportation from the Airport to Barcelona
How to get to the UPF?
UPF location map (Ciutadella campus)
Visit Barcelona Transportation
How to get to CREI (Universitat Pompeu Fabra) from the nearest metro station?
The nearest metro station is “Ciutadella-Vila Olímpica” and belongs to L4 line (yellow one). When you get the street (Ramon Trias Fargas) you just have to walk up and you will find the university on your left.
For further information you can visit:
Nagy, D., C. Ducruet, R. Juhász and C. Steinwender,
"All Aboard: The Effects of Port Development"
Forthcoming in Journal of International Economics, 2024
Week 1 June 21 – June 25
Monetary Policy, Inflation and Unemployment
Instructor: Jordi Galí
Selected Topics:
• The New Keynesian model with sticky prices and wages
• Wage inflation and unemployment: theory and evidence
• Real wage rigidities and monetary policy trade-offs
• Labor market frictions, unemployment, and monetary policy
Dates: June 21 – 25
Time: Lectures: 11:00 – 13:00 h (10 hours)
Price: 600 Euros (Students: 400 Euros)
Lectures:
Measuring the Effects of Fiscal Policy
Instructor: Fabio Canova
Selected Topics:
• Fiscal shocks: empirical evidence
• Fiscal shocks in stochastic general equilibrium models
• Fiscal rules and debt feedback
• Fiscal and monetary policy interactions
• Fiscal shocks at the time of crises
Dates: June 21 – 25
Time: Lectures: 14:30 – 16:30 h (10 hours) Computer demonstrations: 17:00 – 18:00 h (5 hours)
Price: 850 Euros (Students: 550 Euros)
Slides:
Week 2 June 28 – July 2
Financial Crises and Depressions
Instructor: Hans-Joachim Voth
Selected Topics:
• The origins of bubbles and lending booms: past, present and future
• Depressions and credit booms gone wrong: crédito linkages, multipliers and real effects
• Monetary policy and asset prices: how should central banks react to bubbles?
• Ruling out instability: what role for bank supervision and financial regulators?
Dates: June 28 – July 2
Time: 09:00 – 11:00 h (10 hours)
Price: 600 Euros (Students: 400 Euros)
Slides:
Economic Growth and Development
Instructor: Xavier Sala-i-Martin
Selected Topics:
• The world distribution of income
• Growth, poverty and inequality: the role of globalization
• Neoclassical growth theory: the power of diminishing returns
• The effectiveness of international aid in promoting economic development. Randomized field experiments
• The role of incentives
• Government, taxation, the Welfare State and growth
• Ideas and growth: R&D, patents. AIDS, malaria and generics
• Africa: successes, failures, diagnostics and priorities
Dates: June 28 – July 2
Time: 11:30 – 13:30 h (10 hours)
Price: 600 Euros (Students: 400 Euros)
Asset Bubbles and Economic Policy
Instructor: Jaume Ventura
Selected Topics:
• Review of empirical research on asset prices and interest rates
• A macroeconomic framework to study the effects of asset bubbles
• The welfare effects of different types of bubbles
• Application (1): international propagation of financial shocks and global imbalances
• Application (2): credit booms, credit busts, and the current crisis
Dates: June 28 – July 2
Time: 15:00 – 17:00 h (10 hours)
Price: 600 Euros (Students: 400 Euros)
Lectures
Nº 1
Nº 2
Nº 3
Nº 4
Fabio Canova
Fabio Canova earned his PhD in Economics at the University of Minnesota in 1988. He held academic positions at Brown University, Rochester University, the European University Institute, the University of Catania, the University of Modena, Universitat Pompeu Fabra and University of Bern. He has been a Research Professor at IGIER-Bocconi and Part-Time Professor at the University of Southampton and the London Business School. He is currently holding a Research Professorship with ICREA. He has taught courses at various summer schools, at the Bank of Italy, the ECB, the Bank of England, UK Treasury and UK Foreign Office, Riksbank, Bundesbank, Swiss National Bank, Banco de Argentina, Banco do Brazil, Bank of Spain, Banco do Portugal, Reserve Bank of South Africa, Banco de Peru among other places and he has been a consultant to the Bank of England, the IMF, the ECB, the Bank of Spain and the Bank of Italy. He is a Research Fellow at the CEPR, a Research Associate at CREI, a Member of the CEPR Dating Committee, a Member of the Scientific Committee of the Euro Area Business Cycle Network (EABCN), a Member of the Advisory Board of Dynare, Program Director of the Budapest School for Central Banking Studies, Founder of the Applied Macroeconomic Network (AMeN) and Co-editor of the Journal of the European Economic Association. His research interests include quantitative macroeconomics, monetary theory, fiscal policy, international business cycles and macroeconometrics.
Selected publications:
- “How much Structure in Empirical Models”, Palgrave Handbook of Applied Econometrics, 2008.
- Methods for Applied Macroeconomic Research, Princeton University Press, (Princeton, NJ), 2007.
- “Similarities and Convergence in G7 Cycles”, (with M. Ciccarelli and E. Ortega), Journal of Monetary Economics, 2007.
- “Price Dispersion in Monetary Union: the Role of Fiscal Shocks”, (with E. Pappa), Economic Journal, 2007.
- “Estimating Multicountry VARs”, (with M. Ciccarelli), International Economic Review, forthcoming.
- “Back to Square One: Identification Issues in DSGE Models”, (with L. Sala), Journal of Monetary Economics, forthcoming.
Jordi Galí
Jordi Galí earned his PhD in Economics at the Massachusetts Institute of Technology (MIT) in 1989. Currently he is Director and Senior Researcher of the Center for Research in International Economics (CREI) and a Professor at Universitat Pompeu Fabra. He has held academic positions at New York University and Columbia University. He has been a Visiting Professor at MIT. He has served as a co-editor of the Journal of the European Economic Association, and is currently an associate editor of the American Economic Journal-Macroeconomics and the International Journal of Central Banking. He is a Research Fellow at the CEPR, a Research Associate at the NBER, and a Fellow of the Econometric Society. He was co-recipient of the 2005 Yrjo Jansson Award in Economics. His research interests include macroeconomics and monetary theory.
Selected publications:
- Monetary Policy, Inflation and the Business Cycle: An Introduction to the New Keynesian Framework, Princeton University Press, (Princeton, NJ), 2008.
- “Real Wage Rigidities and the New Keynesian Model”, (with O. Blanchard), Journal of Money, Credit and Banking, supplement to vol. 39, no. 1, 2007.
- “Monetary Policy and Exchange Rate Volatility in a Small Open Economy,” (with T. Monacelli), Review of Economic Studies, 2005.
- “Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory”, (with R. Clarida and M. Gertler), Quarterly Journal of Economics, January 2000.
- “The Science of Monetary Policy: A New Keynesian Perspective,” (with R. Clarida and M. Gertler), Journal of Economic Literature, December 1999.
Xavier Sala-i-Martin
Xavier Sala-i-Martin earned his PhD in Economics at Harvard University in 1990. Currently he is Professor in the Department of Economics at Columbia University, and a Visiting Professor at Universitat Pompeu Fabra (UPF). He has been an Associate Professor at the Department of Economics at Yale University and Visiting Professor at Harvard University. He has also taught at UPF, Harvard University, New York University, Yale University and the International Monetary Fund, among other places. He is senior economic adviser to the World Economic Forum (WEF), author of the Global Competitiveness Report of the WEF, Research Associate at the NBER and has been consultant to the World Bank and the International Monetary Fund. In 2006 he was the President of FC Barcelona and he is now the President of its Economic Commission. His research interests include economic growth, macroeconomics, public finance and social security, health and population economics, and monetary economics.
Selected publications:
- “The World Distribution of Income: Falling Inequality and Convergence, Period”, Quarterly Journal of Economics, May 2006.
- “Determinants of Long-Term Growth: A Bayesian Average of Classical Estimates (Bace) Approach” (with G. Doppelhoffer and R. Miller), American Economic Review, September 2004.
- “The Economic Tragedy of the XXth Century: Growth in Africa” (with E.V. Artadi), inAfrican Competitiveness Report of the World Economic Forum, September 2003.
- Economic Growth, 2nd Edition, MIT Press, Cambridge, MA, 2003 (with R. Barro).
- “Health Investment Complementarities under Competing Risks,” (with W. Dow and T. Philipson), American Economic Review, December 1999.
Jaume Ventura
Jaume Ventura earned his PhD in Economics at Harvard University in 1995. Currently he is a Senior Researcher at Center for Research in International Economics (CREI). Previously, he has held academic positions at MIT and the University of Chicago. He is co-director of the International Macroeconomics Programme of the CEPR and has served as editor of the Economic Journal. He is also a Research Associate at the NBER, and has served as a consultant to the IMF, the World Bank and the Inter-American Development Bank. His research interests include international economics and macroeconomics.
Selected publications:
- “Comparative Advantage and the Cross-section of Business Cycles (with A. Kraay) Journal of the European Economic Association, December 2007.
- “Country Portfolios” (with A. Kraay, N. Loayza and L. Servén) Journal of the European Economic Association, June 2005.
- “Current Accounts in the Long and Short Run” (with A. Kraay) NBER Macroeconomics Annual 2002, July 2003.
- “Trade Integration and Risk Sharing” (with A. Kraay), European Economic Review, June 2002.
- “A Portfolio View of the Current Account Deficit”, Brookings Papers, July 2001.
- “Current Accounts in Debtor and Creditor Countries” (with A. Kraay), Quarterly Journal of Economics, November 2000.
Hans-Joachim Voth
Hans-Joachim Voth earned his PhD in Economics at Oxford University in 1996. Currently he is ICREA Research Professor of Economics and Economic History at UPF. He is a CEPR Research Fellow, and a member of the editorial board of the Journal of Economic History. He has won the Gino Luzzatto Prize for the best thesis in European economic history, the Alexander Gershenkron Prize for best thesis on non-US topics, and a Leverhulme Prize for outstanding researchers under the age of 35. His work has appeared in the Quarterly Journal of Economics, American Economic Review, the European Economic Review, the Journal of Economic History, Explorations in Economic History, and in a book with Oxford University Press. He has held visiting appointments at Stanford, MIT, Princeton and Stern Business School (NYU). He has acted as an advisor to the German Finance Ministry’s Working Group on Financial Market Reform; to the CEO of the German Stock Exhange; and to the German Trade Unions Movement (DGB). His research interests are in financial and economic history and macroeconomics.
Selected publications:
- “Betting on Hitler: The Value of Political Connections in Nazi Germany” (with T. Ferguson),Quarterly Journal of Economics, May2008.
- “Interest Rate Restrictions in a Natural Experiment: Loan Allocation and the Change in the Usury Laws in 1714” (with P. Temin), Economic Journal, May 2008.
- “Credit Rationing and Crowding Out during the Industrial Revolution: Evidence from Hoare’s Bank, 1702-1862” (with P. Temin), Explorations in Economic History, July 2005.
- “Riding the South Sea Bubble” (with P. Temin), American Economic Review, December 2004.
- “With a Bang, Not a Whimper: Pricking Germany’s “Stockmarket Bubble” in 1927 and the Slide into Depression”, Journal of Economic History, 2003.
Download file
Download file
Barcelona receives thousands of visitors, especially in summer.
Please, make your reservations directly as soon as possible.
Residence Halls
Residence Hall for Researchers (comfort)
C/Hospital, 64
08001-Barcelona
Tel. (+34) 93 443 8610
Fax. (+34) 93 442 8202
investigadors@resa.es
https://www.resa.es/
Residència Universitària “La Ciutadella”
Pg. Pujades, 33-37
Tel. (+34) 902444447
resa@resa.es
https://www.resa.es
Residència Universitària Campus del Mar
Passeig Salvat Papasseit, 4
08003 Barcelona
Tel. (+34) 933 904 000
https://www.resa.es
Residencia Melondistrict
c/Sancho de Ávila 22
Tel. (+34) 932178812
https://www.melondistrict.com
Residencias Juevenes-El Campus
C/Mallorca, 191, Pral.
jmpresi@arrakis.es
https://www.arrakis.es/~jmpresi/index.htm
APIMEC Residencia Universitaria
C/Bruc, 136
residencia.apimec@caixaterrasa.com
https://www.habitatgejove.com/arrel_eg/index_i.html
BARCELONAUTA
C/Sardenya, 326-328 entol. 2
bcnauta@comb.es
Hotels
Hotel H10 Marina Barcelona (4*)
Address: Av Bogatell, 64-68
Phone: 933097917 / 933003310 (fax)
Web: https://www.h10.es
E-mail: h10.marina.barcelona@h10.es
Hotel Icaria Barcelona (4*)
Address: Av Icària, 195-197
Phone: 932218200 / 932212458 (fax)
Web: https://www.sbhotels.es
E-mail: hotel@icaria.barcelona
Hotel Silken Diagonal (4*)
Address: Av. Diagonal, 205
Phone: 934 895 300 / 934 895 309 (fax)
Web: https://www.hoteles-silken.com/hoteles/index2.php?idhotel=19
E-mail: hotel.diagonalbcn@hoteles-silken.com
Hotel Glòries (3*)
Address: Padilla, 173 (with Gran Via)
Phone: 932 650 808
Web: https://www.hotelglories.com/
E-mail: reservas@hotelglories.com
Hotel Park Hotel (3*)
Address: Av Marquès de l’Argentera, 11
Phone: 933196000 / 933194519 (fax)
E-mail: parkhotel@parkhotelbarcelona.com
Hotel Pere IV (3*)
Address: C Pallars, 128*130
Phone: 933 209 650 / 933 009 060 (fax)
Web: https://www.euro-mar.com
E-mail: hotelpereiv@euro-mar.com
Hotel Oasis II (2*)
Address: Pla Palau, 17
Telèfon: 933194396 / 933104874 (fax)
Hotel Lyon (1*)
Address: C General Castaños, 6
Phone: 933194360 / 933194431 (fax)
Web: https://www.gargallo-hotels.com
E-mail: lyon@gargallo-hotels.com
Useful Links
How to get to the city from the airport?
Please visit: Barcelona Tourism (then have a look at “planning your journey”)
There are several ways:
- by bus: Aerobus. This bus takes you to and from the airport every 15 minutes and stops at Estació de Sants, Plaça Espanya, Plaça Catalunya i Passeig de Gràcia. A ticket costs € 3.90
- by bus: 106. This bus takes you only to Plaça Espanya. A ticket costs €1.30
- by train: RENFE. Trains depart every 30 minutes and stop at Barcelona Sants, Passeig de Gràcia and Estació de França
- by taxi. A taxi ride can cost from € 30 to 35 depending on the day, time, etc.
- by rental car
Information about transportation from the Airport to Barcelona
How to get to the UPF?
UPF location map (Ciutadella campus)
Visit Barcelona Transportation
How to get to CREI (Universitat Pompeu Fabra) from the nearest metro station?
The nearest metro station is “Ciutadella-Vila Olímpica” and belongs to L4 line (yellow one). When you get the street (Ramon Trias Fargas) you just have to walk up and you will find the university on your left.
For further information you can visit:
Galí, J., R. Billi and A. Nakov,
"Optimal Monetary Policy with r*< 0"
Journal of Monetary Economics, 2024, 142, article 103518
Week 1 June 21 – June 25
Monetary Policy, Inflation and Unemployment
Instructor: Jordi Galí
Selected Topics:
• The New Keynesian model with sticky prices and wages
• Wage inflation and unemployment: theory and evidence
• Real wage rigidities and monetary policy trade-offs
• Labor market frictions, unemployment, and monetary policy
Dates: June 21 – 25
Time: Lectures: 11:00 – 13:00 h (10 hours)
Price: 600 Euros (Students: 400 Euros)
Lectures:
Measuring the Effects of Fiscal Policy
Instructor: Fabio Canova
Selected Topics:
• Fiscal shocks: empirical evidence
• Fiscal shocks in stochastic general equilibrium models
• Fiscal rules and debt feedback
• Fiscal and monetary policy interactions
• Fiscal shocks at the time of crises
Dates: June 21 – 25
Time: Lectures: 14:30 – 16:30 h (10 hours) Computer demonstrations: 17:00 – 18:00 h (5 hours)
Price: 850 Euros (Students: 550 Euros)
Slides:
Week 2 June 28 – July 2
Financial Crises and Depressions
Instructor: Hans-Joachim Voth
Selected Topics:
• The origins of bubbles and lending booms: past, present and future
• Depressions and credit booms gone wrong: crédito linkages, multipliers and real effects
• Monetary policy and asset prices: how should central banks react to bubbles?
• Ruling out instability: what role for bank supervision and financial regulators?
Dates: June 28 – July 2
Time: 09:00 – 11:00 h (10 hours)
Price: 600 Euros (Students: 400 Euros)
Slides:
Economic Growth and Development
Instructor: Xavier Sala-i-Martin
Selected Topics:
• The world distribution of income
• Growth, poverty and inequality: the role of globalization
• Neoclassical growth theory: the power of diminishing returns
• The effectiveness of international aid in promoting economic development. Randomized field experiments
• The role of incentives
• Government, taxation, the Welfare State and growth
• Ideas and growth: R&D, patents. AIDS, malaria and generics
• Africa: successes, failures, diagnostics and priorities
Dates: June 28 – July 2
Time: 11:30 – 13:30 h (10 hours)
Price: 600 Euros (Students: 400 Euros)
Asset Bubbles and Economic Policy
Instructor: Jaume Ventura
Selected Topics:
• Review of empirical research on asset prices and interest rates
• A macroeconomic framework to study the effects of asset bubbles
• The welfare effects of different types of bubbles
• Application (1): international propagation of financial shocks and global imbalances
• Application (2): credit booms, credit busts, and the current crisis
Dates: June 28 – July 2
Time: 15:00 – 17:00 h (10 hours)
Price: 600 Euros (Students: 400 Euros)
Lectures
Nº 1
Nº 2
Nº 3
Nº 4
Fabio Canova
Fabio Canova earned his PhD in Economics at the University of Minnesota in 1988. He held academic positions at Brown University, Rochester University, the European University Institute, the University of Catania, the University of Modena, Universitat Pompeu Fabra and University of Bern. He has been a Research Professor at IGIER-Bocconi and Part-Time Professor at the University of Southampton and the London Business School. He is currently holding a Research Professorship with ICREA. He has taught courses at various summer schools, at the Bank of Italy, the ECB, the Bank of England, UK Treasury and UK Foreign Office, Riksbank, Bundesbank, Swiss National Bank, Banco de Argentina, Banco do Brazil, Bank of Spain, Banco do Portugal, Reserve Bank of South Africa, Banco de Peru among other places and he has been a consultant to the Bank of England, the IMF, the ECB, the Bank of Spain and the Bank of Italy. He is a Research Fellow at the CEPR, a Research Associate at CREI, a Member of the CEPR Dating Committee, a Member of the Scientific Committee of the Euro Area Business Cycle Network (EABCN), a Member of the Advisory Board of Dynare, Program Director of the Budapest School for Central Banking Studies, Founder of the Applied Macroeconomic Network (AMeN) and Co-editor of the Journal of the European Economic Association. His research interests include quantitative macroeconomics, monetary theory, fiscal policy, international business cycles and macroeconometrics.
Selected publications:
- “How much Structure in Empirical Models”, Palgrave Handbook of Applied Econometrics, 2008.
- Methods for Applied Macroeconomic Research, Princeton University Press, (Princeton, NJ), 2007.
- “Similarities and Convergence in G7 Cycles”, (with M. Ciccarelli and E. Ortega), Journal of Monetary Economics, 2007.
- “Price Dispersion in Monetary Union: the Role of Fiscal Shocks”, (with E. Pappa), Economic Journal, 2007.
- “Estimating Multicountry VARs”, (with M. Ciccarelli), International Economic Review, forthcoming.
- “Back to Square One: Identification Issues in DSGE Models”, (with L. Sala), Journal of Monetary Economics, forthcoming.
Jordi Galí
Jordi Galí earned his PhD in Economics at the Massachusetts Institute of Technology (MIT) in 1989. Currently he is Director and Senior Researcher of the Center for Research in International Economics (CREI) and a Professor at Universitat Pompeu Fabra. He has held academic positions at New York University and Columbia University. He has been a Visiting Professor at MIT. He has served as a co-editor of the Journal of the European Economic Association, and is currently an associate editor of the American Economic Journal-Macroeconomics and the International Journal of Central Banking. He is a Research Fellow at the CEPR, a Research Associate at the NBER, and a Fellow of the Econometric Society. He was co-recipient of the 2005 Yrjo Jansson Award in Economics. His research interests include macroeconomics and monetary theory.
Selected publications:
- Monetary Policy, Inflation and the Business Cycle: An Introduction to the New Keynesian Framework, Princeton University Press, (Princeton, NJ), 2008.
- “Real Wage Rigidities and the New Keynesian Model”, (with O. Blanchard), Journal of Money, Credit and Banking, supplement to vol. 39, no. 1, 2007.
- “Monetary Policy and Exchange Rate Volatility in a Small Open Economy,” (with T. Monacelli), Review of Economic Studies, 2005.
- “Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory”, (with R. Clarida and M. Gertler), Quarterly Journal of Economics, January 2000.
- “The Science of Monetary Policy: A New Keynesian Perspective,” (with R. Clarida and M. Gertler), Journal of Economic Literature, December 1999.
Xavier Sala-i-Martin
Xavier Sala-i-Martin earned his PhD in Economics at Harvard University in 1990. Currently he is Professor in the Department of Economics at Columbia University, and a Visiting Professor at Universitat Pompeu Fabra (UPF). He has been an Associate Professor at the Department of Economics at Yale University and Visiting Professor at Harvard University. He has also taught at UPF, Harvard University, New York University, Yale University and the International Monetary Fund, among other places. He is senior economic adviser to the World Economic Forum (WEF), author of the Global Competitiveness Report of the WEF, Research Associate at the NBER and has been consultant to the World Bank and the International Monetary Fund. In 2006 he was the President of FC Barcelona and he is now the President of its Economic Commission. His research interests include economic growth, macroeconomics, public finance and social security, health and population economics, and monetary economics.
Selected publications:
- “The World Distribution of Income: Falling Inequality and Convergence, Period”, Quarterly Journal of Economics, May 2006.
- “Determinants of Long-Term Growth: A Bayesian Average of Classical Estimates (Bace) Approach” (with G. Doppelhoffer and R. Miller), American Economic Review, September 2004.
- “The Economic Tragedy of the XXth Century: Growth in Africa” (with E.V. Artadi), inAfrican Competitiveness Report of the World Economic Forum, September 2003.
- Economic Growth, 2nd Edition, MIT Press, Cambridge, MA, 2003 (with R. Barro).
- “Health Investment Complementarities under Competing Risks,” (with W. Dow and T. Philipson), American Economic Review, December 1999.
Jaume Ventura
Jaume Ventura earned his PhD in Economics at Harvard University in 1995. Currently he is a Senior Researcher at Center for Research in International Economics (CREI). Previously, he has held academic positions at MIT and the University of Chicago. He is co-director of the International Macroeconomics Programme of the CEPR and has served as editor of the Economic Journal. He is also a Research Associate at the NBER, and has served as a consultant to the IMF, the World Bank and the Inter-American Development Bank. His research interests include international economics and macroeconomics.
Selected publications:
- “Comparative Advantage and the Cross-section of Business Cycles (with A. Kraay) Journal of the European Economic Association, December 2007.
- “Country Portfolios” (with A. Kraay, N. Loayza and L. Servén) Journal of the European Economic Association, June 2005.
- “Current Accounts in the Long and Short Run” (with A. Kraay) NBER Macroeconomics Annual 2002, July 2003.
- “Trade Integration and Risk Sharing” (with A. Kraay), European Economic Review, June 2002.
- “A Portfolio View of the Current Account Deficit”, Brookings Papers, July 2001.
- “Current Accounts in Debtor and Creditor Countries” (with A. Kraay), Quarterly Journal of Economics, November 2000.
Hans-Joachim Voth
Hans-Joachim Voth earned his PhD in Economics at Oxford University in 1996. Currently he is ICREA Research Professor of Economics and Economic History at UPF. He is a CEPR Research Fellow, and a member of the editorial board of the Journal of Economic History. He has won the Gino Luzzatto Prize for the best thesis in European economic history, the Alexander Gershenkron Prize for best thesis on non-US topics, and a Leverhulme Prize for outstanding researchers under the age of 35. His work has appeared in the Quarterly Journal of Economics, American Economic Review, the European Economic Review, the Journal of Economic History, Explorations in Economic History, and in a book with Oxford University Press. He has held visiting appointments at Stanford, MIT, Princeton and Stern Business School (NYU). He has acted as an advisor to the German Finance Ministry’s Working Group on Financial Market Reform; to the CEO of the German Stock Exhange; and to the German Trade Unions Movement (DGB). His research interests are in financial and economic history and macroeconomics.
Selected publications:
- “Betting on Hitler: The Value of Political Connections in Nazi Germany” (with T. Ferguson),Quarterly Journal of Economics, May2008.
- “Interest Rate Restrictions in a Natural Experiment: Loan Allocation and the Change in the Usury Laws in 1714” (with P. Temin), Economic Journal, May 2008.
- “Credit Rationing and Crowding Out during the Industrial Revolution: Evidence from Hoare’s Bank, 1702-1862” (with P. Temin), Explorations in Economic History, July 2005.
- “Riding the South Sea Bubble” (with P. Temin), American Economic Review, December 2004.
- “With a Bang, Not a Whimper: Pricking Germany’s “Stockmarket Bubble” in 1927 and the Slide into Depression”, Journal of Economic History, 2003.
Download file
Download file
Barcelona receives thousands of visitors, especially in summer.
Please, make your reservations directly as soon as possible.
Residence Halls
Residence Hall for Researchers (comfort)
C/Hospital, 64
08001-Barcelona
Tel. (+34) 93 443 8610
Fax. (+34) 93 442 8202
investigadors@resa.es
https://www.resa.es/
Residència Universitària “La Ciutadella”
Pg. Pujades, 33-37
Tel. (+34) 902444447
resa@resa.es
https://www.resa.es
Residència Universitària Campus del Mar
Passeig Salvat Papasseit, 4
08003 Barcelona
Tel. (+34) 933 904 000
https://www.resa.es
Residencia Melondistrict
c/Sancho de Ávila 22
Tel. (+34) 932178812
https://www.melondistrict.com
Residencias Juevenes-El Campus
C/Mallorca, 191, Pral.
jmpresi@arrakis.es
https://www.arrakis.es/~jmpresi/index.htm
APIMEC Residencia Universitaria
C/Bruc, 136
residencia.apimec@caixaterrasa.com
https://www.habitatgejove.com/arrel_eg/index_i.html
BARCELONAUTA
C/Sardenya, 326-328 entol. 2
bcnauta@comb.es
Hotels
Hotel H10 Marina Barcelona (4*)
Address: Av Bogatell, 64-68
Phone: 933097917 / 933003310 (fax)
Web: https://www.h10.es
E-mail: h10.marina.barcelona@h10.es
Hotel Icaria Barcelona (4*)
Address: Av Icària, 195-197
Phone: 932218200 / 932212458 (fax)
Web: https://www.sbhotels.es
E-mail: hotel@icaria.barcelona
Hotel Silken Diagonal (4*)
Address: Av. Diagonal, 205
Phone: 934 895 300 / 934 895 309 (fax)
Web: https://www.hoteles-silken.com/hoteles/index2.php?idhotel=19
E-mail: hotel.diagonalbcn@hoteles-silken.com
Hotel Glòries (3*)
Address: Padilla, 173 (with Gran Via)
Phone: 932 650 808
Web: https://www.hotelglories.com/
E-mail: reservas@hotelglories.com
Hotel Park Hotel (3*)
Address: Av Marquès de l’Argentera, 11
Phone: 933196000 / 933194519 (fax)
E-mail: parkhotel@parkhotelbarcelona.com
Hotel Pere IV (3*)
Address: C Pallars, 128*130
Phone: 933 209 650 / 933 009 060 (fax)
Web: https://www.euro-mar.com
E-mail: hotelpereiv@euro-mar.com
Hotel Oasis II (2*)
Address: Pla Palau, 17
Telèfon: 933194396 / 933104874 (fax)
Hotel Lyon (1*)
Address: C General Castaños, 6
Phone: 933194360 / 933194431 (fax)
Web: https://www.gargallo-hotels.com
E-mail: lyon@gargallo-hotels.com
Useful Links
How to get to the city from the airport?
Please visit: Barcelona Tourism (then have a look at “planning your journey”)
There are several ways:
- by bus: Aerobus. This bus takes you to and from the airport every 15 minutes and stops at Estació de Sants, Plaça Espanya, Plaça Catalunya i Passeig de Gràcia. A ticket costs € 3.90
- by bus: 106. This bus takes you only to Plaça Espanya. A ticket costs €1.30
- by train: RENFE. Trains depart every 30 minutes and stop at Barcelona Sants, Passeig de Gràcia and Estació de França
- by taxi. A taxi ride can cost from € 30 to 35 depending on the day, time, etc.
- by rental car
Information about transportation from the Airport to Barcelona
How to get to the UPF?
UPF location map (Ciutadella campus)
Visit Barcelona Transportation
How to get to CREI (Universitat Pompeu Fabra) from the nearest metro station?
The nearest metro station is “Ciutadella-Vila Olímpica” and belongs to L4 line (yellow one). When you get the street (Ramon Trias Fargas) you just have to walk up and you will find the university on your left.
For further information you can visit:
Jeenas, P. and R. Lagos,
"Q-Monetary Transmission"
Journal of Political Economy, 2024, 132 (3), 971-1012
Week 1 June 21 – June 25
Monetary Policy, Inflation and Unemployment
Instructor: Jordi Galí
Selected Topics:
• The New Keynesian model with sticky prices and wages
• Wage inflation and unemployment: theory and evidence
• Real wage rigidities and monetary policy trade-offs
• Labor market frictions, unemployment, and monetary policy
Dates: June 21 – 25
Time: Lectures: 11:00 – 13:00 h (10 hours)
Price: 600 Euros (Students: 400 Euros)
Lectures:
Measuring the Effects of Fiscal Policy
Instructor: Fabio Canova
Selected Topics:
• Fiscal shocks: empirical evidence
• Fiscal shocks in stochastic general equilibrium models
• Fiscal rules and debt feedback
• Fiscal and monetary policy interactions
• Fiscal shocks at the time of crises
Dates: June 21 – 25
Time: Lectures: 14:30 – 16:30 h (10 hours) Computer demonstrations: 17:00 – 18:00 h (5 hours)
Price: 850 Euros (Students: 550 Euros)
Slides:
Week 2 June 28 – July 2
Financial Crises and Depressions
Instructor: Hans-Joachim Voth
Selected Topics:
• The origins of bubbles and lending booms: past, present and future
• Depressions and credit booms gone wrong: crédito linkages, multipliers and real effects
• Monetary policy and asset prices: how should central banks react to bubbles?
• Ruling out instability: what role for bank supervision and financial regulators?
Dates: June 28 – July 2
Time: 09:00 – 11:00 h (10 hours)
Price: 600 Euros (Students: 400 Euros)
Slides:
Economic Growth and Development
Instructor: Xavier Sala-i-Martin
Selected Topics:
• The world distribution of income
• Growth, poverty and inequality: the role of globalization
• Neoclassical growth theory: the power of diminishing returns
• The effectiveness of international aid in promoting economic development. Randomized field experiments
• The role of incentives
• Government, taxation, the Welfare State and growth
• Ideas and growth: R&D, patents. AIDS, malaria and generics
• Africa: successes, failures, diagnostics and priorities
Dates: June 28 – July 2
Time: 11:30 – 13:30 h (10 hours)
Price: 600 Euros (Students: 400 Euros)
Asset Bubbles and Economic Policy
Instructor: Jaume Ventura
Selected Topics:
• Review of empirical research on asset prices and interest rates
• A macroeconomic framework to study the effects of asset bubbles
• The welfare effects of different types of bubbles
• Application (1): international propagation of financial shocks and global imbalances
• Application (2): credit booms, credit busts, and the current crisis
Dates: June 28 – July 2
Time: 15:00 – 17:00 h (10 hours)
Price: 600 Euros (Students: 400 Euros)
Lectures
Nº 1
Nº 2
Nº 3
Nº 4
Fabio Canova
Fabio Canova earned his PhD in Economics at the University of Minnesota in 1988. He held academic positions at Brown University, Rochester University, the European University Institute, the University of Catania, the University of Modena, Universitat Pompeu Fabra and University of Bern. He has been a Research Professor at IGIER-Bocconi and Part-Time Professor at the University of Southampton and the London Business School. He is currently holding a Research Professorship with ICREA. He has taught courses at various summer schools, at the Bank of Italy, the ECB, the Bank of England, UK Treasury and UK Foreign Office, Riksbank, Bundesbank, Swiss National Bank, Banco de Argentina, Banco do Brazil, Bank of Spain, Banco do Portugal, Reserve Bank of South Africa, Banco de Peru among other places and he has been a consultant to the Bank of England, the IMF, the ECB, the Bank of Spain and the Bank of Italy. He is a Research Fellow at the CEPR, a Research Associate at CREI, a Member of the CEPR Dating Committee, a Member of the Scientific Committee of the Euro Area Business Cycle Network (EABCN), a Member of the Advisory Board of Dynare, Program Director of the Budapest School for Central Banking Studies, Founder of the Applied Macroeconomic Network (AMeN) and Co-editor of the Journal of the European Economic Association. His research interests include quantitative macroeconomics, monetary theory, fiscal policy, international business cycles and macroeconometrics.
Selected publications:
- “How much Structure in Empirical Models”, Palgrave Handbook of Applied Econometrics, 2008.
- Methods for Applied Macroeconomic Research, Princeton University Press, (Princeton, NJ), 2007.
- “Similarities and Convergence in G7 Cycles”, (with M. Ciccarelli and E. Ortega), Journal of Monetary Economics, 2007.
- “Price Dispersion in Monetary Union: the Role of Fiscal Shocks”, (with E. Pappa), Economic Journal, 2007.
- “Estimating Multicountry VARs”, (with M. Ciccarelli), International Economic Review, forthcoming.
- “Back to Square One: Identification Issues in DSGE Models”, (with L. Sala), Journal of Monetary Economics, forthcoming.
Jordi Galí
Jordi Galí earned his PhD in Economics at the Massachusetts Institute of Technology (MIT) in 1989. Currently he is Director and Senior Researcher of the Center for Research in International Economics (CREI) and a Professor at Universitat Pompeu Fabra. He has held academic positions at New York University and Columbia University. He has been a Visiting Professor at MIT. He has served as a co-editor of the Journal of the European Economic Association, and is currently an associate editor of the American Economic Journal-Macroeconomics and the International Journal of Central Banking. He is a Research Fellow at the CEPR, a Research Associate at the NBER, and a Fellow of the Econometric Society. He was co-recipient of the 2005 Yrjo Jansson Award in Economics. His research interests include macroeconomics and monetary theory.
Selected publications:
- Monetary Policy, Inflation and the Business Cycle: An Introduction to the New Keynesian Framework, Princeton University Press, (Princeton, NJ), 2008.
- “Real Wage Rigidities and the New Keynesian Model”, (with O. Blanchard), Journal of Money, Credit and Banking, supplement to vol. 39, no. 1, 2007.
- “Monetary Policy and Exchange Rate Volatility in a Small Open Economy,” (with T. Monacelli), Review of Economic Studies, 2005.
- “Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory”, (with R. Clarida and M. Gertler), Quarterly Journal of Economics, January 2000.
- “The Science of Monetary Policy: A New Keynesian Perspective,” (with R. Clarida and M. Gertler), Journal of Economic Literature, December 1999.
Xavier Sala-i-Martin
Xavier Sala-i-Martin earned his PhD in Economics at Harvard University in 1990. Currently he is Professor in the Department of Economics at Columbia University, and a Visiting Professor at Universitat Pompeu Fabra (UPF). He has been an Associate Professor at the Department of Economics at Yale University and Visiting Professor at Harvard University. He has also taught at UPF, Harvard University, New York University, Yale University and the International Monetary Fund, among other places. He is senior economic adviser to the World Economic Forum (WEF), author of the Global Competitiveness Report of the WEF, Research Associate at the NBER and has been consultant to the World Bank and the International Monetary Fund. In 2006 he was the President of FC Barcelona and he is now the President of its Economic Commission. His research interests include economic growth, macroeconomics, public finance and social security, health and population economics, and monetary economics.
Selected publications:
- “The World Distribution of Income: Falling Inequality and Convergence, Period”, Quarterly Journal of Economics, May 2006.
- “Determinants of Long-Term Growth: A Bayesian Average of Classical Estimates (Bace) Approach” (with G. Doppelhoffer and R. Miller), American Economic Review, September 2004.
- “The Economic Tragedy of the XXth Century: Growth in Africa” (with E.V. Artadi), inAfrican Competitiveness Report of the World Economic Forum, September 2003.
- Economic Growth, 2nd Edition, MIT Press, Cambridge, MA, 2003 (with R. Barro).
- “Health Investment Complementarities under Competing Risks,” (with W. Dow and T. Philipson), American Economic Review, December 1999.
Jaume Ventura
Jaume Ventura earned his PhD in Economics at Harvard University in 1995. Currently he is a Senior Researcher at Center for Research in International Economics (CREI). Previously, he has held academic positions at MIT and the University of Chicago. He is co-director of the International Macroeconomics Programme of the CEPR and has served as editor of the Economic Journal. He is also a Research Associate at the NBER, and has served as a consultant to the IMF, the World Bank and the Inter-American Development Bank. His research interests include international economics and macroeconomics.
Selected publications:
- “Comparative Advantage and the Cross-section of Business Cycles (with A. Kraay) Journal of the European Economic Association, December 2007.
- “Country Portfolios” (with A. Kraay, N. Loayza and L. Servén) Journal of the European Economic Association, June 2005.
- “Current Accounts in the Long and Short Run” (with A. Kraay) NBER Macroeconomics Annual 2002, July 2003.
- “Trade Integration and Risk Sharing” (with A. Kraay), European Economic Review, June 2002.
- “A Portfolio View of the Current Account Deficit”, Brookings Papers, July 2001.
- “Current Accounts in Debtor and Creditor Countries” (with A. Kraay), Quarterly Journal of Economics, November 2000.
Hans-Joachim Voth
Hans-Joachim Voth earned his PhD in Economics at Oxford University in 1996. Currently he is ICREA Research Professor of Economics and Economic History at UPF. He is a CEPR Research Fellow, and a member of the editorial board of the Journal of Economic History. He has won the Gino Luzzatto Prize for the best thesis in European economic history, the Alexander Gershenkron Prize for best thesis on non-US topics, and a Leverhulme Prize for outstanding researchers under the age of 35. His work has appeared in the Quarterly Journal of Economics, American Economic Review, the European Economic Review, the Journal of Economic History, Explorations in Economic History, and in a book with Oxford University Press. He has held visiting appointments at Stanford, MIT, Princeton and Stern Business School (NYU). He has acted as an advisor to the German Finance Ministry’s Working Group on Financial Market Reform; to the CEO of the German Stock Exhange; and to the German Trade Unions Movement (DGB). His research interests are in financial and economic history and macroeconomics.
Selected publications:
- “Betting on Hitler: The Value of Political Connections in Nazi Germany” (with T. Ferguson),Quarterly Journal of Economics, May2008.
- “Interest Rate Restrictions in a Natural Experiment: Loan Allocation and the Change in the Usury Laws in 1714” (with P. Temin), Economic Journal, May 2008.
- “Credit Rationing and Crowding Out during the Industrial Revolution: Evidence from Hoare’s Bank, 1702-1862” (with P. Temin), Explorations in Economic History, July 2005.
- “Riding the South Sea Bubble” (with P. Temin), American Economic Review, December 2004.
- “With a Bang, Not a Whimper: Pricking Germany’s “Stockmarket Bubble” in 1927 and the Slide into Depression”, Journal of Economic History, 2003.
Download file
Download file
Barcelona receives thousands of visitors, especially in summer.
Please, make your reservations directly as soon as possible.
Residence Halls
Residence Hall for Researchers (comfort)
C/Hospital, 64
08001-Barcelona
Tel. (+34) 93 443 8610
Fax. (+34) 93 442 8202
investigadors@resa.es
https://www.resa.es/
Residència Universitària “La Ciutadella”
Pg. Pujades, 33-37
Tel. (+34) 902444447
resa@resa.es
https://www.resa.es
Residència Universitària Campus del Mar
Passeig Salvat Papasseit, 4
08003 Barcelona
Tel. (+34) 933 904 000
https://www.resa.es
Residencia Melondistrict
c/Sancho de Ávila 22
Tel. (+34) 932178812
https://www.melondistrict.com
Residencias Juevenes-El Campus
C/Mallorca, 191, Pral.
jmpresi@arrakis.es
https://www.arrakis.es/~jmpresi/index.htm
APIMEC Residencia Universitaria
C/Bruc, 136
residencia.apimec@caixaterrasa.com
https://www.habitatgejove.com/arrel_eg/index_i.html
BARCELONAUTA
C/Sardenya, 326-328 entol. 2
bcnauta@comb.es
Hotels
Hotel H10 Marina Barcelona (4*)
Address: Av Bogatell, 64-68
Phone: 933097917 / 933003310 (fax)
Web: https://www.h10.es
E-mail: h10.marina.barcelona@h10.es
Hotel Icaria Barcelona (4*)
Address: Av Icària, 195-197
Phone: 932218200 / 932212458 (fax)
Web: https://www.sbhotels.es
E-mail: hotel@icaria.barcelona
Hotel Silken Diagonal (4*)
Address: Av. Diagonal, 205
Phone: 934 895 300 / 934 895 309 (fax)
Web: https://www.hoteles-silken.com/hoteles/index2.php?idhotel=19
E-mail: hotel.diagonalbcn@hoteles-silken.com
Hotel Glòries (3*)
Address: Padilla, 173 (with Gran Via)
Phone: 932 650 808
Web: https://www.hotelglories.com/
E-mail: reservas@hotelglories.com
Hotel Park Hotel (3*)
Address: Av Marquès de l’Argentera, 11
Phone: 933196000 / 933194519 (fax)
E-mail: parkhotel@parkhotelbarcelona.com
Hotel Pere IV (3*)
Address: C Pallars, 128*130
Phone: 933 209 650 / 933 009 060 (fax)
Web: https://www.euro-mar.com
E-mail: hotelpereiv@euro-mar.com
Hotel Oasis II (2*)
Address: Pla Palau, 17
Telèfon: 933194396 / 933104874 (fax)
Hotel Lyon (1*)
Address: C General Castaños, 6
Phone: 933194360 / 933194431 (fax)
Web: https://www.gargallo-hotels.com
E-mail: lyon@gargallo-hotels.com
Useful Links
How to get to the city from the airport?
Please visit: Barcelona Tourism (then have a look at “planning your journey”)
There are several ways:
- by bus: Aerobus. This bus takes you to and from the airport every 15 minutes and stops at Estació de Sants, Plaça Espanya, Plaça Catalunya i Passeig de Gràcia. A ticket costs € 3.90
- by bus: 106. This bus takes you only to Plaça Espanya. A ticket costs €1.30
- by train: RENFE. Trains depart every 30 minutes and stop at Barcelona Sants, Passeig de Gràcia and Estació de França
- by taxi. A taxi ride can cost from € 30 to 35 depending on the day, time, etc.
- by rental car
Information about transportation from the Airport to Barcelona
How to get to the UPF?
UPF location map (Ciutadella campus)
Visit Barcelona Transportation
How to get to CREI (Universitat Pompeu Fabra) from the nearest metro station?
The nearest metro station is “Ciutadella-Vila Olímpica” and belongs to L4 line (yellow one). When you get the street (Ramon Trias Fargas) you just have to walk up and you will find the university on your left.
For further information you can visit:
J. Díaz-Saavedra, R. Marimon and J. Brogueira de Sousa,
"A Worker’s Backpack as Alternative to the Spanish PAYG Pension System"
Journal of the European Economic Association, 2023, 21 (5), 1944-1993
Week 1 June 21 – June 25
Monetary Policy, Inflation and Unemployment
Instructor: Jordi Galí
Selected Topics:
• The New Keynesian model with sticky prices and wages
• Wage inflation and unemployment: theory and evidence
• Real wage rigidities and monetary policy trade-offs
• Labor market frictions, unemployment, and monetary policy
Dates: June 21 – 25
Time: Lectures: 11:00 – 13:00 h (10 hours)
Price: 600 Euros (Students: 400 Euros)
Lectures:
Measuring the Effects of Fiscal Policy
Instructor: Fabio Canova
Selected Topics:
• Fiscal shocks: empirical evidence
• Fiscal shocks in stochastic general equilibrium models
• Fiscal rules and debt feedback
• Fiscal and monetary policy interactions
• Fiscal shocks at the time of crises
Dates: June 21 – 25
Time: Lectures: 14:30 – 16:30 h (10 hours) Computer demonstrations: 17:00 – 18:00 h (5 hours)
Price: 850 Euros (Students: 550 Euros)
Slides:
Week 2 June 28 – July 2
Financial Crises and Depressions
Instructor: Hans-Joachim Voth
Selected Topics:
• The origins of bubbles and lending booms: past, present and future
• Depressions and credit booms gone wrong: crédito linkages, multipliers and real effects
• Monetary policy and asset prices: how should central banks react to bubbles?
• Ruling out instability: what role for bank supervision and financial regulators?
Dates: June 28 – July 2
Time: 09:00 – 11:00 h (10 hours)
Price: 600 Euros (Students: 400 Euros)
Slides:
Economic Growth and Development
Instructor: Xavier Sala-i-Martin
Selected Topics:
• The world distribution of income
• Growth, poverty and inequality: the role of globalization
• Neoclassical growth theory: the power of diminishing returns
• The effectiveness of international aid in promoting economic development. Randomized field experiments
• The role of incentives
• Government, taxation, the Welfare State and growth
• Ideas and growth: R&D, patents. AIDS, malaria and generics
• Africa: successes, failures, diagnostics and priorities
Dates: June 28 – July 2
Time: 11:30 – 13:30 h (10 hours)
Price: 600 Euros (Students: 400 Euros)
Asset Bubbles and Economic Policy
Instructor: Jaume Ventura
Selected Topics:
• Review of empirical research on asset prices and interest rates
• A macroeconomic framework to study the effects of asset bubbles
• The welfare effects of different types of bubbles
• Application (1): international propagation of financial shocks and global imbalances
• Application (2): credit booms, credit busts, and the current crisis
Dates: June 28 – July 2
Time: 15:00 – 17:00 h (10 hours)
Price: 600 Euros (Students: 400 Euros)
Lectures
Nº 1
Nº 2
Nº 3
Nº 4
Fabio Canova
Fabio Canova earned his PhD in Economics at the University of Minnesota in 1988. He held academic positions at Brown University, Rochester University, the European University Institute, the University of Catania, the University of Modena, Universitat Pompeu Fabra and University of Bern. He has been a Research Professor at IGIER-Bocconi and Part-Time Professor at the University of Southampton and the London Business School. He is currently holding a Research Professorship with ICREA. He has taught courses at various summer schools, at the Bank of Italy, the ECB, the Bank of England, UK Treasury and UK Foreign Office, Riksbank, Bundesbank, Swiss National Bank, Banco de Argentina, Banco do Brazil, Bank of Spain, Banco do Portugal, Reserve Bank of South Africa, Banco de Peru among other places and he has been a consultant to the Bank of England, the IMF, the ECB, the Bank of Spain and the Bank of Italy. He is a Research Fellow at the CEPR, a Research Associate at CREI, a Member of the CEPR Dating Committee, a Member of the Scientific Committee of the Euro Area Business Cycle Network (EABCN), a Member of the Advisory Board of Dynare, Program Director of the Budapest School for Central Banking Studies, Founder of the Applied Macroeconomic Network (AMeN) and Co-editor of the Journal of the European Economic Association. His research interests include quantitative macroeconomics, monetary theory, fiscal policy, international business cycles and macroeconometrics.
Selected publications:
- “How much Structure in Empirical Models”, Palgrave Handbook of Applied Econometrics, 2008.
- Methods for Applied Macroeconomic Research, Princeton University Press, (Princeton, NJ), 2007.
- “Similarities and Convergence in G7 Cycles”, (with M. Ciccarelli and E. Ortega), Journal of Monetary Economics, 2007.
- “Price Dispersion in Monetary Union: the Role of Fiscal Shocks”, (with E. Pappa), Economic Journal, 2007.
- “Estimating Multicountry VARs”, (with M. Ciccarelli), International Economic Review, forthcoming.
- “Back to Square One: Identification Issues in DSGE Models”, (with L. Sala), Journal of Monetary Economics, forthcoming.
Jordi Galí
Jordi Galí earned his PhD in Economics at the Massachusetts Institute of Technology (MIT) in 1989. Currently he is Director and Senior Researcher of the Center for Research in International Economics (CREI) and a Professor at Universitat Pompeu Fabra. He has held academic positions at New York University and Columbia University. He has been a Visiting Professor at MIT. He has served as a co-editor of the Journal of the European Economic Association, and is currently an associate editor of the American Economic Journal-Macroeconomics and the International Journal of Central Banking. He is a Research Fellow at the CEPR, a Research Associate at the NBER, and a Fellow of the Econometric Society. He was co-recipient of the 2005 Yrjo Jansson Award in Economics. His research interests include macroeconomics and monetary theory.
Selected publications:
- Monetary Policy, Inflation and the Business Cycle: An Introduction to the New Keynesian Framework, Princeton University Press, (Princeton, NJ), 2008.
- “Real Wage Rigidities and the New Keynesian Model”, (with O. Blanchard), Journal of Money, Credit and Banking, supplement to vol. 39, no. 1, 2007.
- “Monetary Policy and Exchange Rate Volatility in a Small Open Economy,” (with T. Monacelli), Review of Economic Studies, 2005.
- “Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory”, (with R. Clarida and M. Gertler), Quarterly Journal of Economics, January 2000.
- “The Science of Monetary Policy: A New Keynesian Perspective,” (with R. Clarida and M. Gertler), Journal of Economic Literature, December 1999.
Xavier Sala-i-Martin
Xavier Sala-i-Martin earned his PhD in Economics at Harvard University in 1990. Currently he is Professor in the Department of Economics at Columbia University, and a Visiting Professor at Universitat Pompeu Fabra (UPF). He has been an Associate Professor at the Department of Economics at Yale University and Visiting Professor at Harvard University. He has also taught at UPF, Harvard University, New York University, Yale University and the International Monetary Fund, among other places. He is senior economic adviser to the World Economic Forum (WEF), author of the Global Competitiveness Report of the WEF, Research Associate at the NBER and has been consultant to the World Bank and the International Monetary Fund. In 2006 he was the President of FC Barcelona and he is now the President of its Economic Commission. His research interests include economic growth, macroeconomics, public finance and social security, health and population economics, and monetary economics.
Selected publications:
- “The World Distribution of Income: Falling Inequality and Convergence, Period”, Quarterly Journal of Economics, May 2006.
- “Determinants of Long-Term Growth: A Bayesian Average of Classical Estimates (Bace) Approach” (with G. Doppelhoffer and R. Miller), American Economic Review, September 2004.
- “The Economic Tragedy of the XXth Century: Growth in Africa” (with E.V. Artadi), inAfrican Competitiveness Report of the World Economic Forum, September 2003.
- Economic Growth, 2nd Edition, MIT Press, Cambridge, MA, 2003 (with R. Barro).
- “Health Investment Complementarities under Competing Risks,” (with W. Dow and T. Philipson), American Economic Review, December 1999.
Jaume Ventura
Jaume Ventura earned his PhD in Economics at Harvard University in 1995. Currently he is a Senior Researcher at Center for Research in International Economics (CREI). Previously, he has held academic positions at MIT and the University of Chicago. He is co-director of the International Macroeconomics Programme of the CEPR and has served as editor of the Economic Journal. He is also a Research Associate at the NBER, and has served as a consultant to the IMF, the World Bank and the Inter-American Development Bank. His research interests include international economics and macroeconomics.
Selected publications:
- “Comparative Advantage and the Cross-section of Business Cycles (with A. Kraay) Journal of the European Economic Association, December 2007.
- “Country Portfolios” (with A. Kraay, N. Loayza and L. Servén) Journal of the European Economic Association, June 2005.
- “Current Accounts in the Long and Short Run” (with A. Kraay) NBER Macroeconomics Annual 2002, July 2003.
- “Trade Integration and Risk Sharing” (with A. Kraay), European Economic Review, June 2002.
- “A Portfolio View of the Current Account Deficit”, Brookings Papers, July 2001.
- “Current Accounts in Debtor and Creditor Countries” (with A. Kraay), Quarterly Journal of Economics, November 2000.
Hans-Joachim Voth
Hans-Joachim Voth earned his PhD in Economics at Oxford University in 1996. Currently he is ICREA Research Professor of Economics and Economic History at UPF. He is a CEPR Research Fellow, and a member of the editorial board of the Journal of Economic History. He has won the Gino Luzzatto Prize for the best thesis in European economic history, the Alexander Gershenkron Prize for best thesis on non-US topics, and a Leverhulme Prize for outstanding researchers under the age of 35. His work has appeared in the Quarterly Journal of Economics, American Economic Review, the European Economic Review, the Journal of Economic History, Explorations in Economic History, and in a book with Oxford University Press. He has held visiting appointments at Stanford, MIT, Princeton and Stern Business School (NYU). He has acted as an advisor to the German Finance Ministry’s Working Group on Financial Market Reform; to the CEO of the German Stock Exhange; and to the German Trade Unions Movement (DGB). His research interests are in financial and economic history and macroeconomics.
Selected publications:
- “Betting on Hitler: The Value of Political Connections in Nazi Germany” (with T. Ferguson),Quarterly Journal of Economics, May2008.
- “Interest Rate Restrictions in a Natural Experiment: Loan Allocation and the Change in the Usury Laws in 1714” (with P. Temin), Economic Journal, May 2008.
- “Credit Rationing and Crowding Out during the Industrial Revolution: Evidence from Hoare’s Bank, 1702-1862” (with P. Temin), Explorations in Economic History, July 2005.
- “Riding the South Sea Bubble” (with P. Temin), American Economic Review, December 2004.
- “With a Bang, Not a Whimper: Pricking Germany’s “Stockmarket Bubble” in 1927 and the Slide into Depression”, Journal of Economic History, 2003.
Download file
Download file
Barcelona receives thousands of visitors, especially in summer.
Please, make your reservations directly as soon as possible.
Residence Halls
Residence Hall for Researchers (comfort)
C/Hospital, 64
08001-Barcelona
Tel. (+34) 93 443 8610
Fax. (+34) 93 442 8202
investigadors@resa.es
https://www.resa.es/
Residència Universitària “La Ciutadella”
Pg. Pujades, 33-37
Tel. (+34) 902444447
resa@resa.es
https://www.resa.es
Residència Universitària Campus del Mar
Passeig Salvat Papasseit, 4
08003 Barcelona
Tel. (+34) 933 904 000
https://www.resa.es
Residencia Melondistrict
c/Sancho de Ávila 22
Tel. (+34) 932178812
https://www.melondistrict.com
Residencias Juevenes-El Campus
C/Mallorca, 191, Pral.
jmpresi@arrakis.es
https://www.arrakis.es/~jmpresi/index.htm
APIMEC Residencia Universitaria
C/Bruc, 136
residencia.apimec@caixaterrasa.com
https://www.habitatgejove.com/arrel_eg/index_i.html
BARCELONAUTA
C/Sardenya, 326-328 entol. 2
bcnauta@comb.es
Hotels
Hotel H10 Marina Barcelona (4*)
Address: Av Bogatell, 64-68
Phone: 933097917 / 933003310 (fax)
Web: https://www.h10.es
E-mail: h10.marina.barcelona@h10.es
Hotel Icaria Barcelona (4*)
Address: Av Icària, 195-197
Phone: 932218200 / 932212458 (fax)
Web: https://www.sbhotels.es
E-mail: hotel@icaria.barcelona
Hotel Silken Diagonal (4*)
Address: Av. Diagonal, 205
Phone: 934 895 300 / 934 895 309 (fax)
Web: https://www.hoteles-silken.com/hoteles/index2.php?idhotel=19
E-mail: hotel.diagonalbcn@hoteles-silken.com
Hotel Glòries (3*)
Address: Padilla, 173 (with Gran Via)
Phone: 932 650 808
Web: https://www.hotelglories.com/
E-mail: reservas@hotelglories.com
Hotel Park Hotel (3*)
Address: Av Marquès de l’Argentera, 11
Phone: 933196000 / 933194519 (fax)
E-mail: parkhotel@parkhotelbarcelona.com
Hotel Pere IV (3*)
Address: C Pallars, 128*130
Phone: 933 209 650 / 933 009 060 (fax)
Web: https://www.euro-mar.com
E-mail: hotelpereiv@euro-mar.com
Hotel Oasis II (2*)
Address: Pla Palau, 17
Telèfon: 933194396 / 933104874 (fax)
Hotel Lyon (1*)
Address: C General Castaños, 6
Phone: 933194360 / 933194431 (fax)
Web: https://www.gargallo-hotels.com
E-mail: lyon@gargallo-hotels.com
Useful Links
How to get to the city from the airport?
Please visit: Barcelona Tourism (then have a look at “planning your journey”)
There are several ways:
- by bus: Aerobus. This bus takes you to and from the airport every 15 minutes and stops at Estació de Sants, Plaça Espanya, Plaça Catalunya i Passeig de Gràcia. A ticket costs € 3.90
- by bus: 106. This bus takes you only to Plaça Espanya. A ticket costs €1.30
- by train: RENFE. Trains depart every 30 minutes and stop at Barcelona Sants, Passeig de Gràcia and Estació de França
- by taxi. A taxi ride can cost from € 30 to 35 depending on the day, time, etc.
- by rental car
Information about transportation from the Airport to Barcelona
How to get to the UPF?
UPF location map (Ciutadella campus)
Visit Barcelona Transportation
How to get to CREI (Universitat Pompeu Fabra) from the nearest metro station?
The nearest metro station is “Ciutadella-Vila Olímpica” and belongs to L4 line (yellow one). When you get the street (Ramon Trias Fargas) you just have to walk up and you will find the university on your left.
For further information you can visit:
G. Callegari, R. Marimon, A. Wicht and L. Zavalloni,
"On a Lender of Last Resort with a Central Bank and a Stability Fund"
Review of Economic Dynamics, 2023, 50, 106-130
Week 1 June 21 – June 25
Monetary Policy, Inflation and Unemployment
Instructor: Jordi Galí
Selected Topics:
• The New Keynesian model with sticky prices and wages
• Wage inflation and unemployment: theory and evidence
• Real wage rigidities and monetary policy trade-offs
• Labor market frictions, unemployment, and monetary policy
Dates: June 21 – 25
Time: Lectures: 11:00 – 13:00 h (10 hours)
Price: 600 Euros (Students: 400 Euros)
Lectures:
Measuring the Effects of Fiscal Policy
Instructor: Fabio Canova
Selected Topics:
• Fiscal shocks: empirical evidence
• Fiscal shocks in stochastic general equilibrium models
• Fiscal rules and debt feedback
• Fiscal and monetary policy interactions
• Fiscal shocks at the time of crises
Dates: June 21 – 25
Time: Lectures: 14:30 – 16:30 h (10 hours) Computer demonstrations: 17:00 – 18:00 h (5 hours)
Price: 850 Euros (Students: 550 Euros)
Slides:
Week 2 June 28 – July 2
Financial Crises and Depressions
Instructor: Hans-Joachim Voth
Selected Topics:
• The origins of bubbles and lending booms: past, present and future
• Depressions and credit booms gone wrong: crédito linkages, multipliers and real effects
• Monetary policy and asset prices: how should central banks react to bubbles?
• Ruling out instability: what role for bank supervision and financial regulators?
Dates: June 28 – July 2
Time: 09:00 – 11:00 h (10 hours)
Price: 600 Euros (Students: 400 Euros)
Slides:
Economic Growth and Development
Instructor: Xavier Sala-i-Martin
Selected Topics:
• The world distribution of income
• Growth, poverty and inequality: the role of globalization
• Neoclassical growth theory: the power of diminishing returns
• The effectiveness of international aid in promoting economic development. Randomized field experiments
• The role of incentives
• Government, taxation, the Welfare State and growth
• Ideas and growth: R&D, patents. AIDS, malaria and generics
• Africa: successes, failures, diagnostics and priorities
Dates: June 28 – July 2
Time: 11:30 – 13:30 h (10 hours)
Price: 600 Euros (Students: 400 Euros)
Asset Bubbles and Economic Policy
Instructor: Jaume Ventura
Selected Topics:
• Review of empirical research on asset prices and interest rates
• A macroeconomic framework to study the effects of asset bubbles
• The welfare effects of different types of bubbles
• Application (1): international propagation of financial shocks and global imbalances
• Application (2): credit booms, credit busts, and the current crisis
Dates: June 28 – July 2
Time: 15:00 – 17:00 h (10 hours)
Price: 600 Euros (Students: 400 Euros)
Lectures
Nº 1
Nº 2
Nº 3
Nº 4
Fabio Canova
Fabio Canova earned his PhD in Economics at the University of Minnesota in 1988. He held academic positions at Brown University, Rochester University, the European University Institute, the University of Catania, the University of Modena, Universitat Pompeu Fabra and University of Bern. He has been a Research Professor at IGIER-Bocconi and Part-Time Professor at the University of Southampton and the London Business School. He is currently holding a Research Professorship with ICREA. He has taught courses at various summer schools, at the Bank of Italy, the ECB, the Bank of England, UK Treasury and UK Foreign Office, Riksbank, Bundesbank, Swiss National Bank, Banco de Argentina, Banco do Brazil, Bank of Spain, Banco do Portugal, Reserve Bank of South Africa, Banco de Peru among other places and he has been a consultant to the Bank of England, the IMF, the ECB, the Bank of Spain and the Bank of Italy. He is a Research Fellow at the CEPR, a Research Associate at CREI, a Member of the CEPR Dating Committee, a Member of the Scientific Committee of the Euro Area Business Cycle Network (EABCN), a Member of the Advisory Board of Dynare, Program Director of the Budapest School for Central Banking Studies, Founder of the Applied Macroeconomic Network (AMeN) and Co-editor of the Journal of the European Economic Association. His research interests include quantitative macroeconomics, monetary theory, fiscal policy, international business cycles and macroeconometrics.
Selected publications:
- “How much Structure in Empirical Models”, Palgrave Handbook of Applied Econometrics, 2008.
- Methods for Applied Macroeconomic Research, Princeton University Press, (Princeton, NJ), 2007.
- “Similarities and Convergence in G7 Cycles”, (with M. Ciccarelli and E. Ortega), Journal of Monetary Economics, 2007.
- “Price Dispersion in Monetary Union: the Role of Fiscal Shocks”, (with E. Pappa), Economic Journal, 2007.
- “Estimating Multicountry VARs”, (with M. Ciccarelli), International Economic Review, forthcoming.
- “Back to Square One: Identification Issues in DSGE Models”, (with L. Sala), Journal of Monetary Economics, forthcoming.
Jordi Galí
Jordi Galí earned his PhD in Economics at the Massachusetts Institute of Technology (MIT) in 1989. Currently he is Director and Senior Researcher of the Center for Research in International Economics (CREI) and a Professor at Universitat Pompeu Fabra. He has held academic positions at New York University and Columbia University. He has been a Visiting Professor at MIT. He has served as a co-editor of the Journal of the European Economic Association, and is currently an associate editor of the American Economic Journal-Macroeconomics and the International Journal of Central Banking. He is a Research Fellow at the CEPR, a Research Associate at the NBER, and a Fellow of the Econometric Society. He was co-recipient of the 2005 Yrjo Jansson Award in Economics. His research interests include macroeconomics and monetary theory.
Selected publications:
- Monetary Policy, Inflation and the Business Cycle: An Introduction to the New Keynesian Framework, Princeton University Press, (Princeton, NJ), 2008.
- “Real Wage Rigidities and the New Keynesian Model”, (with O. Blanchard), Journal of Money, Credit and Banking, supplement to vol. 39, no. 1, 2007.
- “Monetary Policy and Exchange Rate Volatility in a Small Open Economy,” (with T. Monacelli), Review of Economic Studies, 2005.
- “Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory”, (with R. Clarida and M. Gertler), Quarterly Journal of Economics, January 2000.
- “The Science of Monetary Policy: A New Keynesian Perspective,” (with R. Clarida and M. Gertler), Journal of Economic Literature, December 1999.
Xavier Sala-i-Martin
Xavier Sala-i-Martin earned his PhD in Economics at Harvard University in 1990. Currently he is Professor in the Department of Economics at Columbia University, and a Visiting Professor at Universitat Pompeu Fabra (UPF). He has been an Associate Professor at the Department of Economics at Yale University and Visiting Professor at Harvard University. He has also taught at UPF, Harvard University, New York University, Yale University and the International Monetary Fund, among other places. He is senior economic adviser to the World Economic Forum (WEF), author of the Global Competitiveness Report of the WEF, Research Associate at the NBER and has been consultant to the World Bank and the International Monetary Fund. In 2006 he was the President of FC Barcelona and he is now the President of its Economic Commission. His research interests include economic growth, macroeconomics, public finance and social security, health and population economics, and monetary economics.
Selected publications:
- “The World Distribution of Income: Falling Inequality and Convergence, Period”, Quarterly Journal of Economics, May 2006.
- “Determinants of Long-Term Growth: A Bayesian Average of Classical Estimates (Bace) Approach” (with G. Doppelhoffer and R. Miller), American Economic Review, September 2004.
- “The Economic Tragedy of the XXth Century: Growth in Africa” (with E.V. Artadi), inAfrican Competitiveness Report of the World Economic Forum, September 2003.
- Economic Growth, 2nd Edition, MIT Press, Cambridge, MA, 2003 (with R. Barro).
- “Health Investment Complementarities under Competing Risks,” (with W. Dow and T. Philipson), American Economic Review, December 1999.
Jaume Ventura
Jaume Ventura earned his PhD in Economics at Harvard University in 1995. Currently he is a Senior Researcher at Center for Research in International Economics (CREI). Previously, he has held academic positions at MIT and the University of Chicago. He is co-director of the International Macroeconomics Programme of the CEPR and has served as editor of the Economic Journal. He is also a Research Associate at the NBER, and has served as a consultant to the IMF, the World Bank and the Inter-American Development Bank. His research interests include international economics and macroeconomics.
Selected publications:
- “Comparative Advantage and the Cross-section of Business Cycles (with A. Kraay) Journal of the European Economic Association, December 2007.
- “Country Portfolios” (with A. Kraay, N. Loayza and L. Servén) Journal of the European Economic Association, June 2005.
- “Current Accounts in the Long and Short Run” (with A. Kraay) NBER Macroeconomics Annual 2002, July 2003.
- “Trade Integration and Risk Sharing” (with A. Kraay), European Economic Review, June 2002.
- “A Portfolio View of the Current Account Deficit”, Brookings Papers, July 2001.
- “Current Accounts in Debtor and Creditor Countries” (with A. Kraay), Quarterly Journal of Economics, November 2000.
Hans-Joachim Voth
Hans-Joachim Voth earned his PhD in Economics at Oxford University in 1996. Currently he is ICREA Research Professor of Economics and Economic History at UPF. He is a CEPR Research Fellow, and a member of the editorial board of the Journal of Economic History. He has won the Gino Luzzatto Prize for the best thesis in European economic history, the Alexander Gershenkron Prize for best thesis on non-US topics, and a Leverhulme Prize for outstanding researchers under the age of 35. His work has appeared in the Quarterly Journal of Economics, American Economic Review, the European Economic Review, the Journal of Economic History, Explorations in Economic History, and in a book with Oxford University Press. He has held visiting appointments at Stanford, MIT, Princeton and Stern Business School (NYU). He has acted as an advisor to the German Finance Ministry’s Working Group on Financial Market Reform; to the CEO of the German Stock Exhange; and to the German Trade Unions Movement (DGB). His research interests are in financial and economic history and macroeconomics.
Selected publications:
- “Betting on Hitler: The Value of Political Connections in Nazi Germany” (with T. Ferguson),Quarterly Journal of Economics, May2008.
- “Interest Rate Restrictions in a Natural Experiment: Loan Allocation and the Change in the Usury Laws in 1714” (with P. Temin), Economic Journal, May 2008.
- “Credit Rationing and Crowding Out during the Industrial Revolution: Evidence from Hoare’s Bank, 1702-1862” (with P. Temin), Explorations in Economic History, July 2005.
- “Riding the South Sea Bubble” (with P. Temin), American Economic Review, December 2004.
- “With a Bang, Not a Whimper: Pricking Germany’s “Stockmarket Bubble” in 1927 and the Slide into Depression”, Journal of Economic History, 2003.
Download file
Download file
Barcelona receives thousands of visitors, especially in summer.
Please, make your reservations directly as soon as possible.
Residence Halls
Residence Hall for Researchers (comfort)
C/Hospital, 64
08001-Barcelona
Tel. (+34) 93 443 8610
Fax. (+34) 93 442 8202
investigadors@resa.es
https://www.resa.es/
Residència Universitària “La Ciutadella”
Pg. Pujades, 33-37
Tel. (+34) 902444447
resa@resa.es
https://www.resa.es
Residència Universitària Campus del Mar
Passeig Salvat Papasseit, 4
08003 Barcelona
Tel. (+34) 933 904 000
https://www.resa.es
Residencia Melondistrict
c/Sancho de Ávila 22
Tel. (+34) 932178812
https://www.melondistrict.com
Residencias Juevenes-El Campus
C/Mallorca, 191, Pral.
jmpresi@arrakis.es
https://www.arrakis.es/~jmpresi/index.htm
APIMEC Residencia Universitaria
C/Bruc, 136
residencia.apimec@caixaterrasa.com
https://www.habitatgejove.com/arrel_eg/index_i.html
BARCELONAUTA
C/Sardenya, 326-328 entol. 2
bcnauta@comb.es
Hotels
Hotel H10 Marina Barcelona (4*)
Address: Av Bogatell, 64-68
Phone: 933097917 / 933003310 (fax)
Web: https://www.h10.es
E-mail: h10.marina.barcelona@h10.es
Hotel Icaria Barcelona (4*)
Address: Av Icària, 195-197
Phone: 932218200 / 932212458 (fax)
Web: https://www.sbhotels.es
E-mail: hotel@icaria.barcelona
Hotel Silken Diagonal (4*)
Address: Av. Diagonal, 205
Phone: 934 895 300 / 934 895 309 (fax)
Web: https://www.hoteles-silken.com/hoteles/index2.php?idhotel=19
E-mail: hotel.diagonalbcn@hoteles-silken.com
Hotel Glòries (3*)
Address: Padilla, 173 (with Gran Via)
Phone: 932 650 808
Web: https://www.hotelglories.com/
E-mail: reservas@hotelglories.com
Hotel Park Hotel (3*)
Address: Av Marquès de l’Argentera, 11
Phone: 933196000 / 933194519 (fax)
E-mail: parkhotel@parkhotelbarcelona.com
Hotel Pere IV (3*)
Address: C Pallars, 128*130
Phone: 933 209 650 / 933 009 060 (fax)
Web: https://www.euro-mar.com
E-mail: hotelpereiv@euro-mar.com
Hotel Oasis II (2*)
Address: Pla Palau, 17
Telèfon: 933194396 / 933104874 (fax)
Hotel Lyon (1*)
Address: C General Castaños, 6
Phone: 933194360 / 933194431 (fax)
Web: https://www.gargallo-hotels.com
E-mail: lyon@gargallo-hotels.com
Useful Links
How to get to the city from the airport?
Please visit: Barcelona Tourism (then have a look at “planning your journey”)
There are several ways:
- by bus: Aerobus. This bus takes you to and from the airport every 15 minutes and stops at Estació de Sants, Plaça Espanya, Plaça Catalunya i Passeig de Gràcia. A ticket costs € 3.90
- by bus: 106. This bus takes you only to Plaça Espanya. A ticket costs €1.30
- by train: RENFE. Trains depart every 30 minutes and stop at Barcelona Sants, Passeig de Gràcia and Estació de França
- by taxi. A taxi ride can cost from € 30 to 35 depending on the day, time, etc.
- by rental car
Information about transportation from the Airport to Barcelona
How to get to the UPF?
UPF location map (Ciutadella campus)
Visit Barcelona Transportation
How to get to CREI (Universitat Pompeu Fabra) from the nearest metro station?
The nearest metro station is “Ciutadella-Vila Olímpica” and belongs to L4 line (yellow one). When you get the street (Ramon Trias Fargas) you just have to walk up and you will find the university on your left.
For further information you can visit:
Y. Liu, R. Marimon and A. Wicht,
"Making Sovereign Debt Safe with a Financial Stability Fund"
Journal of International Economics, 2023, 145, article 103834
Week 1 June 21 – June 25
Monetary Policy, Inflation and Unemployment
Instructor: Jordi Galí
Selected Topics:
• The New Keynesian model with sticky prices and wages
• Wage inflation and unemployment: theory and evidence
• Real wage rigidities and monetary policy trade-offs
• Labor market frictions, unemployment, and monetary policy
Dates: June 21 – 25
Time: Lectures: 11:00 – 13:00 h (10 hours)
Price: 600 Euros (Students: 400 Euros)
Lectures:
Measuring the Effects of Fiscal Policy
Instructor: Fabio Canova
Selected Topics:
• Fiscal shocks: empirical evidence
• Fiscal shocks in stochastic general equilibrium models
• Fiscal rules and debt feedback
• Fiscal and monetary policy interactions
• Fiscal shocks at the time of crises
Dates: June 21 – 25
Time: Lectures: 14:30 – 16:30 h (10 hours) Computer demonstrations: 17:00 – 18:00 h (5 hours)
Price: 850 Euros (Students: 550 Euros)
Slides:
Week 2 June 28 – July 2
Financial Crises and Depressions
Instructor: Hans-Joachim Voth
Selected Topics:
• The origins of bubbles and lending booms: past, present and future
• Depressions and credit booms gone wrong: crédito linkages, multipliers and real effects
• Monetary policy and asset prices: how should central banks react to bubbles?
• Ruling out instability: what role for bank supervision and financial regulators?
Dates: June 28 – July 2
Time: 09:00 – 11:00 h (10 hours)
Price: 600 Euros (Students: 400 Euros)
Slides:
Economic Growth and Development
Instructor: Xavier Sala-i-Martin
Selected Topics:
• The world distribution of income
• Growth, poverty and inequality: the role of globalization
• Neoclassical growth theory: the power of diminishing returns
• The effectiveness of international aid in promoting economic development. Randomized field experiments
• The role of incentives
• Government, taxation, the Welfare State and growth
• Ideas and growth: R&D, patents. AIDS, malaria and generics
• Africa: successes, failures, diagnostics and priorities
Dates: June 28 – July 2
Time: 11:30 – 13:30 h (10 hours)
Price: 600 Euros (Students: 400 Euros)
Asset Bubbles and Economic Policy
Instructor: Jaume Ventura
Selected Topics:
• Review of empirical research on asset prices and interest rates
• A macroeconomic framework to study the effects of asset bubbles
• The welfare effects of different types of bubbles
• Application (1): international propagation of financial shocks and global imbalances
• Application (2): credit booms, credit busts, and the current crisis
Dates: June 28 – July 2
Time: 15:00 – 17:00 h (10 hours)
Price: 600 Euros (Students: 400 Euros)
Lectures
Nº 1
Nº 2
Nº 3
Nº 4
Fabio Canova
Fabio Canova earned his PhD in Economics at the University of Minnesota in 1988. He held academic positions at Brown University, Rochester University, the European University Institute, the University of Catania, the University of Modena, Universitat Pompeu Fabra and University of Bern. He has been a Research Professor at IGIER-Bocconi and Part-Time Professor at the University of Southampton and the London Business School. He is currently holding a Research Professorship with ICREA. He has taught courses at various summer schools, at the Bank of Italy, the ECB, the Bank of England, UK Treasury and UK Foreign Office, Riksbank, Bundesbank, Swiss National Bank, Banco de Argentina, Banco do Brazil, Bank of Spain, Banco do Portugal, Reserve Bank of South Africa, Banco de Peru among other places and he has been a consultant to the Bank of England, the IMF, the ECB, the Bank of Spain and the Bank of Italy. He is a Research Fellow at the CEPR, a Research Associate at CREI, a Member of the CEPR Dating Committee, a Member of the Scientific Committee of the Euro Area Business Cycle Network (EABCN), a Member of the Advisory Board of Dynare, Program Director of the Budapest School for Central Banking Studies, Founder of the Applied Macroeconomic Network (AMeN) and Co-editor of the Journal of the European Economic Association. His research interests include quantitative macroeconomics, monetary theory, fiscal policy, international business cycles and macroeconometrics.
Selected publications:
- “How much Structure in Empirical Models”, Palgrave Handbook of Applied Econometrics, 2008.
- Methods for Applied Macroeconomic Research, Princeton University Press, (Princeton, NJ), 2007.
- “Similarities and Convergence in G7 Cycles”, (with M. Ciccarelli and E. Ortega), Journal of Monetary Economics, 2007.
- “Price Dispersion in Monetary Union: the Role of Fiscal Shocks”, (with E. Pappa), Economic Journal, 2007.
- “Estimating Multicountry VARs”, (with M. Ciccarelli), International Economic Review, forthcoming.
- “Back to Square One: Identification Issues in DSGE Models”, (with L. Sala), Journal of Monetary Economics, forthcoming.
Jordi Galí
Jordi Galí earned his PhD in Economics at the Massachusetts Institute of Technology (MIT) in 1989. Currently he is Director and Senior Researcher of the Center for Research in International Economics (CREI) and a Professor at Universitat Pompeu Fabra. He has held academic positions at New York University and Columbia University. He has been a Visiting Professor at MIT. He has served as a co-editor of the Journal of the European Economic Association, and is currently an associate editor of the American Economic Journal-Macroeconomics and the International Journal of Central Banking. He is a Research Fellow at the CEPR, a Research Associate at the NBER, and a Fellow of the Econometric Society. He was co-recipient of the 2005 Yrjo Jansson Award in Economics. His research interests include macroeconomics and monetary theory.
Selected publications:
- Monetary Policy, Inflation and the Business Cycle: An Introduction to the New Keynesian Framework, Princeton University Press, (Princeton, NJ), 2008.
- “Real Wage Rigidities and the New Keynesian Model”, (with O. Blanchard), Journal of Money, Credit and Banking, supplement to vol. 39, no. 1, 2007.
- “Monetary Policy and Exchange Rate Volatility in a Small Open Economy,” (with T. Monacelli), Review of Economic Studies, 2005.
- “Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory”, (with R. Clarida and M. Gertler), Quarterly Journal of Economics, January 2000.
- “The Science of Monetary Policy: A New Keynesian Perspective,” (with R. Clarida and M. Gertler), Journal of Economic Literature, December 1999.
Xavier Sala-i-Martin
Xavier Sala-i-Martin earned his PhD in Economics at Harvard University in 1990. Currently he is Professor in the Department of Economics at Columbia University, and a Visiting Professor at Universitat Pompeu Fabra (UPF). He has been an Associate Professor at the Department of Economics at Yale University and Visiting Professor at Harvard University. He has also taught at UPF, Harvard University, New York University, Yale University and the International Monetary Fund, among other places. He is senior economic adviser to the World Economic Forum (WEF), author of the Global Competitiveness Report of the WEF, Research Associate at the NBER and has been consultant to the World Bank and the International Monetary Fund. In 2006 he was the President of FC Barcelona and he is now the President of its Economic Commission. His research interests include economic growth, macroeconomics, public finance and social security, health and population economics, and monetary economics.
Selected publications:
- “The World Distribution of Income: Falling Inequality and Convergence, Period”, Quarterly Journal of Economics, May 2006.
- “Determinants of Long-Term Growth: A Bayesian Average of Classical Estimates (Bace) Approach” (with G. Doppelhoffer and R. Miller), American Economic Review, September 2004.
- “The Economic Tragedy of the XXth Century: Growth in Africa” (with E.V. Artadi), inAfrican Competitiveness Report of the World Economic Forum, September 2003.
- Economic Growth, 2nd Edition, MIT Press, Cambridge, MA, 2003 (with R. Barro).
- “Health Investment Complementarities under Competing Risks,” (with W. Dow and T. Philipson), American Economic Review, December 1999.
Jaume Ventura
Jaume Ventura earned his PhD in Economics at Harvard University in 1995. Currently he is a Senior Researcher at Center for Research in International Economics (CREI). Previously, he has held academic positions at MIT and the University of Chicago. He is co-director of the International Macroeconomics Programme of the CEPR and has served as editor of the Economic Journal. He is also a Research Associate at the NBER, and has served as a consultant to the IMF, the World Bank and the Inter-American Development Bank. His research interests include international economics and macroeconomics.
Selected publications:
- “Comparative Advantage and the Cross-section of Business Cycles (with A. Kraay) Journal of the European Economic Association, December 2007.
- “Country Portfolios” (with A. Kraay, N. Loayza and L. Servén) Journal of the European Economic Association, June 2005.
- “Current Accounts in the Long and Short Run” (with A. Kraay) NBER Macroeconomics Annual 2002, July 2003.
- “Trade Integration and Risk Sharing” (with A. Kraay), European Economic Review, June 2002.
- “A Portfolio View of the Current Account Deficit”, Brookings Papers, July 2001.
- “Current Accounts in Debtor and Creditor Countries” (with A. Kraay), Quarterly Journal of Economics, November 2000.
Hans-Joachim Voth
Hans-Joachim Voth earned his PhD in Economics at Oxford University in 1996. Currently he is ICREA Research Professor of Economics and Economic History at UPF. He is a CEPR Research Fellow, and a member of the editorial board of the Journal of Economic History. He has won the Gino Luzzatto Prize for the best thesis in European economic history, the Alexander Gershenkron Prize for best thesis on non-US topics, and a Leverhulme Prize for outstanding researchers under the age of 35. His work has appeared in the Quarterly Journal of Economics, American Economic Review, the European Economic Review, the Journal of Economic History, Explorations in Economic History, and in a book with Oxford University Press. He has held visiting appointments at Stanford, MIT, Princeton and Stern Business School (NYU). He has acted as an advisor to the German Finance Ministry’s Working Group on Financial Market Reform; to the CEO of the German Stock Exhange; and to the German Trade Unions Movement (DGB). His research interests are in financial and economic history and macroeconomics.
Selected publications:
- “Betting on Hitler: The Value of Political Connections in Nazi Germany” (with T. Ferguson),Quarterly Journal of Economics, May2008.
- “Interest Rate Restrictions in a Natural Experiment: Loan Allocation and the Change in the Usury Laws in 1714” (with P. Temin), Economic Journal, May 2008.
- “Credit Rationing and Crowding Out during the Industrial Revolution: Evidence from Hoare’s Bank, 1702-1862” (with P. Temin), Explorations in Economic History, July 2005.
- “Riding the South Sea Bubble” (with P. Temin), American Economic Review, December 2004.
- “With a Bang, Not a Whimper: Pricking Germany’s “Stockmarket Bubble” in 1927 and the Slide into Depression”, Journal of Economic History, 2003.
Download file
Download file
Barcelona receives thousands of visitors, especially in summer.
Please, make your reservations directly as soon as possible.
Residence Halls
Residence Hall for Researchers (comfort)
C/Hospital, 64
08001-Barcelona
Tel. (+34) 93 443 8610
Fax. (+34) 93 442 8202
investigadors@resa.es
https://www.resa.es/
Residència Universitària “La Ciutadella”
Pg. Pujades, 33-37
Tel. (+34) 902444447
resa@resa.es
https://www.resa.es
Residència Universitària Campus del Mar
Passeig Salvat Papasseit, 4
08003 Barcelona
Tel. (+34) 933 904 000
https://www.resa.es
Residencia Melondistrict
c/Sancho de Ávila 22
Tel. (+34) 932178812
https://www.melondistrict.com
Residencias Juevenes-El Campus
C/Mallorca, 191, Pral.
jmpresi@arrakis.es
https://www.arrakis.es/~jmpresi/index.htm
APIMEC Residencia Universitaria
C/Bruc, 136
residencia.apimec@caixaterrasa.com
https://www.habitatgejove.com/arrel_eg/index_i.html
BARCELONAUTA
C/Sardenya, 326-328 entol. 2
bcnauta@comb.es
Hotels
Hotel H10 Marina Barcelona (4*)
Address: Av Bogatell, 64-68
Phone: 933097917 / 933003310 (fax)
Web: https://www.h10.es
E-mail: h10.marina.barcelona@h10.es
Hotel Icaria Barcelona (4*)
Address: Av Icària, 195-197
Phone: 932218200 / 932212458 (fax)
Web: https://www.sbhotels.es
E-mail: hotel@icaria.barcelona
Hotel Silken Diagonal (4*)
Address: Av. Diagonal, 205
Phone: 934 895 300 / 934 895 309 (fax)
Web: https://www.hoteles-silken.com/hoteles/index2.php?idhotel=19
E-mail: hotel.diagonalbcn@hoteles-silken.com
Hotel Glòries (3*)
Address: Padilla, 173 (with Gran Via)
Phone: 932 650 808
Web: https://www.hotelglories.com/
E-mail: reservas@hotelglories.com
Hotel Park Hotel (3*)
Address: Av Marquès de l’Argentera, 11
Phone: 933196000 / 933194519 (fax)
E-mail: parkhotel@parkhotelbarcelona.com
Hotel Pere IV (3*)
Address: C Pallars, 128*130
Phone: 933 209 650 / 933 009 060 (fax)
Web: https://www.euro-mar.com
E-mail: hotelpereiv@euro-mar.com
Hotel Oasis II (2*)
Address: Pla Palau, 17
Telèfon: 933194396 / 933104874 (fax)
Hotel Lyon (1*)
Address: C General Castaños, 6
Phone: 933194360 / 933194431 (fax)
Web: https://www.gargallo-hotels.com
E-mail: lyon@gargallo-hotels.com
Useful Links
How to get to the city from the airport?
Please visit: Barcelona Tourism (then have a look at “planning your journey”)
There are several ways:
- by bus: Aerobus. This bus takes you to and from the airport every 15 minutes and stops at Estació de Sants, Plaça Espanya, Plaça Catalunya i Passeig de Gràcia. A ticket costs € 3.90
- by bus: 106. This bus takes you only to Plaça Espanya. A ticket costs €1.30
- by train: RENFE. Trains depart every 30 minutes and stop at Barcelona Sants, Passeig de Gràcia and Estació de França
- by taxi. A taxi ride can cost from € 30 to 35 depending on the day, time, etc.
- by rental car
Information about transportation from the Airport to Barcelona
How to get to the UPF?
UPF location map (Ciutadella campus)
Visit Barcelona Transportation
How to get to CREI (Universitat Pompeu Fabra) from the nearest metro station?
The nearest metro station is “Ciutadella-Vila Olímpica” and belongs to L4 line (yellow one). When you get the street (Ramon Trias Fargas) you just have to walk up and you will find the university on your left.
For further information you can visit:
Broner, F., T. Didier, S. Schmukler and G. von Peter,
"Bilateral International Investments: The Big Sur?"
Journal of International Economics, 2023, 145, article 103795
Week 1 June 21 – June 25
Monetary Policy, Inflation and Unemployment
Instructor: Jordi Galí
Selected Topics:
• The New Keynesian model with sticky prices and wages
• Wage inflation and unemployment: theory and evidence
• Real wage rigidities and monetary policy trade-offs
• Labor market frictions, unemployment, and monetary policy
Dates: June 21 – 25
Time: Lectures: 11:00 – 13:00 h (10 hours)
Price: 600 Euros (Students: 400 Euros)
Lectures:
Measuring the Effects of Fiscal Policy
Instructor: Fabio Canova
Selected Topics:
• Fiscal shocks: empirical evidence
• Fiscal shocks in stochastic general equilibrium models
• Fiscal rules and debt feedback
• Fiscal and monetary policy interactions
• Fiscal shocks at the time of crises
Dates: June 21 – 25
Time: Lectures: 14:30 – 16:30 h (10 hours) Computer demonstrations: 17:00 – 18:00 h (5 hours)
Price: 850 Euros (Students: 550 Euros)
Slides:
Week 2 June 28 – July 2
Financial Crises and Depressions
Instructor: Hans-Joachim Voth
Selected Topics:
• The origins of bubbles and lending booms: past, present and future
• Depressions and credit booms gone wrong: crédito linkages, multipliers and real effects
• Monetary policy and asset prices: how should central banks react to bubbles?
• Ruling out instability: what role for bank supervision and financial regulators?
Dates: June 28 – July 2
Time: 09:00 – 11:00 h (10 hours)
Price: 600 Euros (Students: 400 Euros)
Slides:
Economic Growth and Development
Instructor: Xavier Sala-i-Martin
Selected Topics:
• The world distribution of income
• Growth, poverty and inequality: the role of globalization
• Neoclassical growth theory: the power of diminishing returns
• The effectiveness of international aid in promoting economic development. Randomized field experiments
• The role of incentives
• Government, taxation, the Welfare State and growth
• Ideas and growth: R&D, patents. AIDS, malaria and generics
• Africa: successes, failures, diagnostics and priorities
Dates: June 28 – July 2
Time: 11:30 – 13:30 h (10 hours)
Price: 600 Euros (Students: 400 Euros)
Asset Bubbles and Economic Policy
Instructor: Jaume Ventura
Selected Topics:
• Review of empirical research on asset prices and interest rates
• A macroeconomic framework to study the effects of asset bubbles
• The welfare effects of different types of bubbles
• Application (1): international propagation of financial shocks and global imbalances
• Application (2): credit booms, credit busts, and the current crisis
Dates: June 28 – July 2
Time: 15:00 – 17:00 h (10 hours)
Price: 600 Euros (Students: 400 Euros)
Lectures
Nº 1
Nº 2
Nº 3
Nº 4
Fabio Canova
Fabio Canova earned his PhD in Economics at the University of Minnesota in 1988. He held academic positions at Brown University, Rochester University, the European University Institute, the University of Catania, the University of Modena, Universitat Pompeu Fabra and University of Bern. He has been a Research Professor at IGIER-Bocconi and Part-Time Professor at the University of Southampton and the London Business School. He is currently holding a Research Professorship with ICREA. He has taught courses at various summer schools, at the Bank of Italy, the ECB, the Bank of England, UK Treasury and UK Foreign Office, Riksbank, Bundesbank, Swiss National Bank, Banco de Argentina, Banco do Brazil, Bank of Spain, Banco do Portugal, Reserve Bank of South Africa, Banco de Peru among other places and he has been a consultant to the Bank of England, the IMF, the ECB, the Bank of Spain and the Bank of Italy. He is a Research Fellow at the CEPR, a Research Associate at CREI, a Member of the CEPR Dating Committee, a Member of the Scientific Committee of the Euro Area Business Cycle Network (EABCN), a Member of the Advisory Board of Dynare, Program Director of the Budapest School for Central Banking Studies, Founder of the Applied Macroeconomic Network (AMeN) and Co-editor of the Journal of the European Economic Association. His research interests include quantitative macroeconomics, monetary theory, fiscal policy, international business cycles and macroeconometrics.
Selected publications:
- “How much Structure in Empirical Models”, Palgrave Handbook of Applied Econometrics, 2008.
- Methods for Applied Macroeconomic Research, Princeton University Press, (Princeton, NJ), 2007.
- “Similarities and Convergence in G7 Cycles”, (with M. Ciccarelli and E. Ortega), Journal of Monetary Economics, 2007.
- “Price Dispersion in Monetary Union: the Role of Fiscal Shocks”, (with E. Pappa), Economic Journal, 2007.
- “Estimating Multicountry VARs”, (with M. Ciccarelli), International Economic Review, forthcoming.
- “Back to Square One: Identification Issues in DSGE Models”, (with L. Sala), Journal of Monetary Economics, forthcoming.
Jordi Galí
Jordi Galí earned his PhD in Economics at the Massachusetts Institute of Technology (MIT) in 1989. Currently he is Director and Senior Researcher of the Center for Research in International Economics (CREI) and a Professor at Universitat Pompeu Fabra. He has held academic positions at New York University and Columbia University. He has been a Visiting Professor at MIT. He has served as a co-editor of the Journal of the European Economic Association, and is currently an associate editor of the American Economic Journal-Macroeconomics and the International Journal of Central Banking. He is a Research Fellow at the CEPR, a Research Associate at the NBER, and a Fellow of the Econometric Society. He was co-recipient of the 2005 Yrjo Jansson Award in Economics. His research interests include macroeconomics and monetary theory.
Selected publications:
- Monetary Policy, Inflation and the Business Cycle: An Introduction to the New Keynesian Framework, Princeton University Press, (Princeton, NJ), 2008.
- “Real Wage Rigidities and the New Keynesian Model”, (with O. Blanchard), Journal of Money, Credit and Banking, supplement to vol. 39, no. 1, 2007.
- “Monetary Policy and Exchange Rate Volatility in a Small Open Economy,” (with T. Monacelli), Review of Economic Studies, 2005.
- “Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory”, (with R. Clarida and M. Gertler), Quarterly Journal of Economics, January 2000.
- “The Science of Monetary Policy: A New Keynesian Perspective,” (with R. Clarida and M. Gertler), Journal of Economic Literature, December 1999.
Xavier Sala-i-Martin
Xavier Sala-i-Martin earned his PhD in Economics at Harvard University in 1990. Currently he is Professor in the Department of Economics at Columbia University, and a Visiting Professor at Universitat Pompeu Fabra (UPF). He has been an Associate Professor at the Department of Economics at Yale University and Visiting Professor at Harvard University. He has also taught at UPF, Harvard University, New York University, Yale University and the International Monetary Fund, among other places. He is senior economic adviser to the World Economic Forum (WEF), author of the Global Competitiveness Report of the WEF, Research Associate at the NBER and has been consultant to the World Bank and the International Monetary Fund. In 2006 he was the President of FC Barcelona and he is now the President of its Economic Commission. His research interests include economic growth, macroeconomics, public finance and social security, health and population economics, and monetary economics.
Selected publications:
- “The World Distribution of Income: Falling Inequality and Convergence, Period”, Quarterly Journal of Economics, May 2006.
- “Determinants of Long-Term Growth: A Bayesian Average of Classical Estimates (Bace) Approach” (with G. Doppelhoffer and R. Miller), American Economic Review, September 2004.
- “The Economic Tragedy of the XXth Century: Growth in Africa” (with E.V. Artadi), inAfrican Competitiveness Report of the World Economic Forum, September 2003.
- Economic Growth, 2nd Edition, MIT Press, Cambridge, MA, 2003 (with R. Barro).
- “Health Investment Complementarities under Competing Risks,” (with W. Dow and T. Philipson), American Economic Review, December 1999.
Jaume Ventura
Jaume Ventura earned his PhD in Economics at Harvard University in 1995. Currently he is a Senior Researcher at Center for Research in International Economics (CREI). Previously, he has held academic positions at MIT and the University of Chicago. He is co-director of the International Macroeconomics Programme of the CEPR and has served as editor of the Economic Journal. He is also a Research Associate at the NBER, and has served as a consultant to the IMF, the World Bank and the Inter-American Development Bank. His research interests include international economics and macroeconomics.
Selected publications:
- “Comparative Advantage and the Cross-section of Business Cycles (with A. Kraay) Journal of the European Economic Association, December 2007.
- “Country Portfolios” (with A. Kraay, N. Loayza and L. Servén) Journal of the European Economic Association, June 2005.
- “Current Accounts in the Long and Short Run” (with A. Kraay) NBER Macroeconomics Annual 2002, July 2003.
- “Trade Integration and Risk Sharing” (with A. Kraay), European Economic Review, June 2002.
- “A Portfolio View of the Current Account Deficit”, Brookings Papers, July 2001.
- “Current Accounts in Debtor and Creditor Countries” (with A. Kraay), Quarterly Journal of Economics, November 2000.
Hans-Joachim Voth
Hans-Joachim Voth earned his PhD in Economics at Oxford University in 1996. Currently he is ICREA Research Professor of Economics and Economic History at UPF. He is a CEPR Research Fellow, and a member of the editorial board of the Journal of Economic History. He has won the Gino Luzzatto Prize for the best thesis in European economic history, the Alexander Gershenkron Prize for best thesis on non-US topics, and a Leverhulme Prize for outstanding researchers under the age of 35. His work has appeared in the Quarterly Journal of Economics, American Economic Review, the European Economic Review, the Journal of Economic History, Explorations in Economic History, and in a book with Oxford University Press. He has held visiting appointments at Stanford, MIT, Princeton and Stern Business School (NYU). He has acted as an advisor to the German Finance Ministry’s Working Group on Financial Market Reform; to the CEO of the German Stock Exhange; and to the German Trade Unions Movement (DGB). His research interests are in financial and economic history and macroeconomics.
Selected publications:
- “Betting on Hitler: The Value of Political Connections in Nazi Germany” (with T. Ferguson),Quarterly Journal of Economics, May2008.
- “Interest Rate Restrictions in a Natural Experiment: Loan Allocation and the Change in the Usury Laws in 1714” (with P. Temin), Economic Journal, May 2008.
- “Credit Rationing and Crowding Out during the Industrial Revolution: Evidence from Hoare’s Bank, 1702-1862” (with P. Temin), Explorations in Economic History, July 2005.
- “Riding the South Sea Bubble” (with P. Temin), American Economic Review, December 2004.
- “With a Bang, Not a Whimper: Pricking Germany’s “Stockmarket Bubble” in 1927 and the Slide into Depression”, Journal of Economic History, 2003.
Download file
Download file
Barcelona receives thousands of visitors, especially in summer.
Please, make your reservations directly as soon as possible.
Residence Halls
Residence Hall for Researchers (comfort)
C/Hospital, 64
08001-Barcelona
Tel. (+34) 93 443 8610
Fax. (+34) 93 442 8202
investigadors@resa.es
https://www.resa.es/
Residència Universitària “La Ciutadella”
Pg. Pujades, 33-37
Tel. (+34) 902444447
resa@resa.es
https://www.resa.es
Residència Universitària Campus del Mar
Passeig Salvat Papasseit, 4
08003 Barcelona
Tel. (+34) 933 904 000
https://www.resa.es
Residencia Melondistrict
c/Sancho de Ávila 22
Tel. (+34) 932178812
https://www.melondistrict.com
Residencias Juevenes-El Campus
C/Mallorca, 191, Pral.
jmpresi@arrakis.es
https://www.arrakis.es/~jmpresi/index.htm
APIMEC Residencia Universitaria
C/Bruc, 136
residencia.apimec@caixaterrasa.com
https://www.habitatgejove.com/arrel_eg/index_i.html
BARCELONAUTA
C/Sardenya, 326-328 entol. 2
bcnauta@comb.es
Hotels
Hotel H10 Marina Barcelona (4*)
Address: Av Bogatell, 64-68
Phone: 933097917 / 933003310 (fax)
Web: https://www.h10.es
E-mail: h10.marina.barcelona@h10.es
Hotel Icaria Barcelona (4*)
Address: Av Icària, 195-197
Phone: 932218200 / 932212458 (fax)
Web: https://www.sbhotels.es
E-mail: hotel@icaria.barcelona
Hotel Silken Diagonal (4*)
Address: Av. Diagonal, 205
Phone: 934 895 300 / 934 895 309 (fax)
Web: https://www.hoteles-silken.com/hoteles/index2.php?idhotel=19
E-mail: hotel.diagonalbcn@hoteles-silken.com
Hotel Glòries (3*)
Address: Padilla, 173 (with Gran Via)
Phone: 932 650 808
Web: https://www.hotelglories.com/
E-mail: reservas@hotelglories.com
Hotel Park Hotel (3*)
Address: Av Marquès de l’Argentera, 11
Phone: 933196000 / 933194519 (fax)
E-mail: parkhotel@parkhotelbarcelona.com
Hotel Pere IV (3*)
Address: C Pallars, 128*130
Phone: 933 209 650 / 933 009 060 (fax)
Web: https://www.euro-mar.com
E-mail: hotelpereiv@euro-mar.com
Hotel Oasis II (2*)
Address: Pla Palau, 17
Telèfon: 933194396 / 933104874 (fax)
Hotel Lyon (1*)
Address: C General Castaños, 6
Phone: 933194360 / 933194431 (fax)
Web: https://www.gargallo-hotels.com
E-mail: lyon@gargallo-hotels.com
Useful Links
How to get to the city from the airport?
Please visit: Barcelona Tourism (then have a look at “planning your journey”)
There are several ways:
- by bus: Aerobus. This bus takes you to and from the airport every 15 minutes and stops at Estació de Sants, Plaça Espanya, Plaça Catalunya i Passeig de Gràcia. A ticket costs € 3.90
- by bus: 106. This bus takes you only to Plaça Espanya. A ticket costs €1.30
- by train: RENFE. Trains depart every 30 minutes and stop at Barcelona Sants, Passeig de Gràcia and Estació de França
- by taxi. A taxi ride can cost from € 30 to 35 depending on the day, time, etc.
- by rental car
Information about transportation from the Airport to Barcelona
How to get to the UPF?
UPF location map (Ciutadella campus)
Visit Barcelona Transportation
How to get to CREI (Universitat Pompeu Fabra) from the nearest metro station?
The nearest metro station is “Ciutadella-Vila Olímpica” and belongs to L4 line (yellow one). When you get the street (Ramon Trias Fargas) you just have to walk up and you will find the university on your left.
For further information you can visit:
Á. Ábrahám, J. Brogueira de Sousa, R. Marimon and L. Mayr,
"On the Design of a European Unemployment Insurance System"
European Economic Review, 2023, 156, article 104469
Week 1 June 21 – June 25
Monetary Policy, Inflation and Unemployment
Instructor: Jordi Galí
Selected Topics:
• The New Keynesian model with sticky prices and wages
• Wage inflation and unemployment: theory and evidence
• Real wage rigidities and monetary policy trade-offs
• Labor market frictions, unemployment, and monetary policy
Dates: June 21 – 25
Time: Lectures: 11:00 – 13:00 h (10 hours)
Price: 600 Euros (Students: 400 Euros)
Lectures:
Measuring the Effects of Fiscal Policy
Instructor: Fabio Canova
Selected Topics:
• Fiscal shocks: empirical evidence
• Fiscal shocks in stochastic general equilibrium models
• Fiscal rules and debt feedback
• Fiscal and monetary policy interactions
• Fiscal shocks at the time of crises
Dates: June 21 – 25
Time: Lectures: 14:30 – 16:30 h (10 hours) Computer demonstrations: 17:00 – 18:00 h (5 hours)
Price: 850 Euros (Students: 550 Euros)
Slides:
Week 2 June 28 – July 2
Financial Crises and Depressions
Instructor: Hans-Joachim Voth
Selected Topics:
• The origins of bubbles and lending booms: past, present and future
• Depressions and credit booms gone wrong: crédito linkages, multipliers and real effects
• Monetary policy and asset prices: how should central banks react to bubbles?
• Ruling out instability: what role for bank supervision and financial regulators?
Dates: June 28 – July 2
Time: 09:00 – 11:00 h (10 hours)
Price: 600 Euros (Students: 400 Euros)
Slides:
Economic Growth and Development
Instructor: Xavier Sala-i-Martin
Selected Topics:
• The world distribution of income
• Growth, poverty and inequality: the role of globalization
• Neoclassical growth theory: the power of diminishing returns
• The effectiveness of international aid in promoting economic development. Randomized field experiments
• The role of incentives
• Government, taxation, the Welfare State and growth
• Ideas and growth: R&D, patents. AIDS, malaria and generics
• Africa: successes, failures, diagnostics and priorities
Dates: June 28 – July 2
Time: 11:30 – 13:30 h (10 hours)
Price: 600 Euros (Students: 400 Euros)
Asset Bubbles and Economic Policy
Instructor: Jaume Ventura
Selected Topics:
• Review of empirical research on asset prices and interest rates
• A macroeconomic framework to study the effects of asset bubbles
• The welfare effects of different types of bubbles
• Application (1): international propagation of financial shocks and global imbalances
• Application (2): credit booms, credit busts, and the current crisis
Dates: June 28 – July 2
Time: 15:00 – 17:00 h (10 hours)
Price: 600 Euros (Students: 400 Euros)
Lectures
Nº 1
Nº 2
Nº 3
Nº 4
Fabio Canova
Fabio Canova earned his PhD in Economics at the University of Minnesota in 1988. He held academic positions at Brown University, Rochester University, the European University Institute, the University of Catania, the University of Modena, Universitat Pompeu Fabra and University of Bern. He has been a Research Professor at IGIER-Bocconi and Part-Time Professor at the University of Southampton and the London Business School. He is currently holding a Research Professorship with ICREA. He has taught courses at various summer schools, at the Bank of Italy, the ECB, the Bank of England, UK Treasury and UK Foreign Office, Riksbank, Bundesbank, Swiss National Bank, Banco de Argentina, Banco do Brazil, Bank of Spain, Banco do Portugal, Reserve Bank of South Africa, Banco de Peru among other places and he has been a consultant to the Bank of England, the IMF, the ECB, the Bank of Spain and the Bank of Italy. He is a Research Fellow at the CEPR, a Research Associate at CREI, a Member of the CEPR Dating Committee, a Member of the Scientific Committee of the Euro Area Business Cycle Network (EABCN), a Member of the Advisory Board of Dynare, Program Director of the Budapest School for Central Banking Studies, Founder of the Applied Macroeconomic Network (AMeN) and Co-editor of the Journal of the European Economic Association. His research interests include quantitative macroeconomics, monetary theory, fiscal policy, international business cycles and macroeconometrics.
Selected publications:
- “How much Structure in Empirical Models”, Palgrave Handbook of Applied Econometrics, 2008.
- Methods for Applied Macroeconomic Research, Princeton University Press, (Princeton, NJ), 2007.
- “Similarities and Convergence in G7 Cycles”, (with M. Ciccarelli and E. Ortega), Journal of Monetary Economics, 2007.
- “Price Dispersion in Monetary Union: the Role of Fiscal Shocks”, (with E. Pappa), Economic Journal, 2007.
- “Estimating Multicountry VARs”, (with M. Ciccarelli), International Economic Review, forthcoming.
- “Back to Square One: Identification Issues in DSGE Models”, (with L. Sala), Journal of Monetary Economics, forthcoming.
Jordi Galí
Jordi Galí earned his PhD in Economics at the Massachusetts Institute of Technology (MIT) in 1989. Currently he is Director and Senior Researcher of the Center for Research in International Economics (CREI) and a Professor at Universitat Pompeu Fabra. He has held academic positions at New York University and Columbia University. He has been a Visiting Professor at MIT. He has served as a co-editor of the Journal of the European Economic Association, and is currently an associate editor of the American Economic Journal-Macroeconomics and the International Journal of Central Banking. He is a Research Fellow at the CEPR, a Research Associate at the NBER, and a Fellow of the Econometric Society. He was co-recipient of the 2005 Yrjo Jansson Award in Economics. His research interests include macroeconomics and monetary theory.
Selected publications:
- Monetary Policy, Inflation and the Business Cycle: An Introduction to the New Keynesian Framework, Princeton University Press, (Princeton, NJ), 2008.
- “Real Wage Rigidities and the New Keynesian Model”, (with O. Blanchard), Journal of Money, Credit and Banking, supplement to vol. 39, no. 1, 2007.
- “Monetary Policy and Exchange Rate Volatility in a Small Open Economy,” (with T. Monacelli), Review of Economic Studies, 2005.
- “Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory”, (with R. Clarida and M. Gertler), Quarterly Journal of Economics, January 2000.
- “The Science of Monetary Policy: A New Keynesian Perspective,” (with R. Clarida and M. Gertler), Journal of Economic Literature, December 1999.
Xavier Sala-i-Martin
Xavier Sala-i-Martin earned his PhD in Economics at Harvard University in 1990. Currently he is Professor in the Department of Economics at Columbia University, and a Visiting Professor at Universitat Pompeu Fabra (UPF). He has been an Associate Professor at the Department of Economics at Yale University and Visiting Professor at Harvard University. He has also taught at UPF, Harvard University, New York University, Yale University and the International Monetary Fund, among other places. He is senior economic adviser to the World Economic Forum (WEF), author of the Global Competitiveness Report of the WEF, Research Associate at the NBER and has been consultant to the World Bank and the International Monetary Fund. In 2006 he was the President of FC Barcelona and he is now the President of its Economic Commission. His research interests include economic growth, macroeconomics, public finance and social security, health and population economics, and monetary economics.
Selected publications:
- “The World Distribution of Income: Falling Inequality and Convergence, Period”, Quarterly Journal of Economics, May 2006.
- “Determinants of Long-Term Growth: A Bayesian Average of Classical Estimates (Bace) Approach” (with G. Doppelhoffer and R. Miller), American Economic Review, September 2004.
- “The Economic Tragedy of the XXth Century: Growth in Africa” (with E.V. Artadi), inAfrican Competitiveness Report of the World Economic Forum, September 2003.
- Economic Growth, 2nd Edition, MIT Press, Cambridge, MA, 2003 (with R. Barro).
- “Health Investment Complementarities under Competing Risks,” (with W. Dow and T. Philipson), American Economic Review, December 1999.
Jaume Ventura
Jaume Ventura earned his PhD in Economics at Harvard University in 1995. Currently he is a Senior Researcher at Center for Research in International Economics (CREI). Previously, he has held academic positions at MIT and the University of Chicago. He is co-director of the International Macroeconomics Programme of the CEPR and has served as editor of the Economic Journal. He is also a Research Associate at the NBER, and has served as a consultant to the IMF, the World Bank and the Inter-American Development Bank. His research interests include international economics and macroeconomics.
Selected publications:
- “Comparative Advantage and the Cross-section of Business Cycles (with A. Kraay) Journal of the European Economic Association, December 2007.
- “Country Portfolios” (with A. Kraay, N. Loayza and L. Servén) Journal of the European Economic Association, June 2005.
- “Current Accounts in the Long and Short Run” (with A. Kraay) NBER Macroeconomics Annual 2002, July 2003.
- “Trade Integration and Risk Sharing” (with A. Kraay), European Economic Review, June 2002.
- “A Portfolio View of the Current Account Deficit”, Brookings Papers, July 2001.
- “Current Accounts in Debtor and Creditor Countries” (with A. Kraay), Quarterly Journal of Economics, November 2000.
Hans-Joachim Voth
Hans-Joachim Voth earned his PhD in Economics at Oxford University in 1996. Currently he is ICREA Research Professor of Economics and Economic History at UPF. He is a CEPR Research Fellow, and a member of the editorial board of the Journal of Economic History. He has won the Gino Luzzatto Prize for the best thesis in European economic history, the Alexander Gershenkron Prize for best thesis on non-US topics, and a Leverhulme Prize for outstanding researchers under the age of 35. His work has appeared in the Quarterly Journal of Economics, American Economic Review, the European Economic Review, the Journal of Economic History, Explorations in Economic History, and in a book with Oxford University Press. He has held visiting appointments at Stanford, MIT, Princeton and Stern Business School (NYU). He has acted as an advisor to the German Finance Ministry’s Working Group on Financial Market Reform; to the CEO of the German Stock Exhange; and to the German Trade Unions Movement (DGB). His research interests are in financial and economic history and macroeconomics.
Selected publications:
- “Betting on Hitler: The Value of Political Connections in Nazi Germany” (with T. Ferguson),Quarterly Journal of Economics, May2008.
- “Interest Rate Restrictions in a Natural Experiment: Loan Allocation and the Change in the Usury Laws in 1714” (with P. Temin), Economic Journal, May 2008.
- “Credit Rationing and Crowding Out during the Industrial Revolution: Evidence from Hoare’s Bank, 1702-1862” (with P. Temin), Explorations in Economic History, July 2005.
- “Riding the South Sea Bubble” (with P. Temin), American Economic Review, December 2004.
- “With a Bang, Not a Whimper: Pricking Germany’s “Stockmarket Bubble” in 1927 and the Slide into Depression”, Journal of Economic History, 2003.
Download file
Download file
Barcelona receives thousands of visitors, especially in summer.
Please, make your reservations directly as soon as possible.
Residence Halls
Residence Hall for Researchers (comfort)
C/Hospital, 64
08001-Barcelona
Tel. (+34) 93 443 8610
Fax. (+34) 93 442 8202
investigadors@resa.es
https://www.resa.es/
Residència Universitària “La Ciutadella”
Pg. Pujades, 33-37
Tel. (+34) 902444447
resa@resa.es
https://www.resa.es
Residència Universitària Campus del Mar
Passeig Salvat Papasseit, 4
08003 Barcelona
Tel. (+34) 933 904 000
https://www.resa.es
Residencia Melondistrict
c/Sancho de Ávila 22
Tel. (+34) 932178812
https://www.melondistrict.com
Residencias Juevenes-El Campus
C/Mallorca, 191, Pral.
jmpresi@arrakis.es
https://www.arrakis.es/~jmpresi/index.htm
APIMEC Residencia Universitaria
C/Bruc, 136
residencia.apimec@caixaterrasa.com
https://www.habitatgejove.com/arrel_eg/index_i.html
BARCELONAUTA
C/Sardenya, 326-328 entol. 2
bcnauta@comb.es
Hotels
Hotel H10 Marina Barcelona (4*)
Address: Av Bogatell, 64-68
Phone: 933097917 / 933003310 (fax)
Web: https://www.h10.es
E-mail: h10.marina.barcelona@h10.es
Hotel Icaria Barcelona (4*)
Address: Av Icària, 195-197
Phone: 932218200 / 932212458 (fax)
Web: https://www.sbhotels.es
E-mail: hotel@icaria.barcelona
Hotel Silken Diagonal (4*)
Address: Av. Diagonal, 205
Phone: 934 895 300 / 934 895 309 (fax)
Web: https://www.hoteles-silken.com/hoteles/index2.php?idhotel=19
E-mail: hotel.diagonalbcn@hoteles-silken.com
Hotel Glòries (3*)
Address: Padilla, 173 (with Gran Via)
Phone: 932 650 808
Web: https://www.hotelglories.com/
E-mail: reservas@hotelglories.com
Hotel Park Hotel (3*)
Address: Av Marquès de l’Argentera, 11
Phone: 933196000 / 933194519 (fax)
E-mail: parkhotel@parkhotelbarcelona.com
Hotel Pere IV (3*)
Address: C Pallars, 128*130
Phone: 933 209 650 / 933 009 060 (fax)
Web: https://www.euro-mar.com
E-mail: hotelpereiv@euro-mar.com
Hotel Oasis II (2*)
Address: Pla Palau, 17
Telèfon: 933194396 / 933104874 (fax)
Hotel Lyon (1*)
Address: C General Castaños, 6
Phone: 933194360 / 933194431 (fax)
Web: https://www.gargallo-hotels.com
E-mail: lyon@gargallo-hotels.com
Useful Links
How to get to the city from the airport?
Please visit: Barcelona Tourism (then have a look at “planning your journey”)
There are several ways:
- by bus: Aerobus. This bus takes you to and from the airport every 15 minutes and stops at Estació de Sants, Plaça Espanya, Plaça Catalunya i Passeig de Gràcia. A ticket costs € 3.90
- by bus: 106. This bus takes you only to Plaça Espanya. A ticket costs €1.30
- by train: RENFE. Trains depart every 30 minutes and stop at Barcelona Sants, Passeig de Gràcia and Estació de França
- by taxi. A taxi ride can cost from € 30 to 35 depending on the day, time, etc.
- by rental car
Information about transportation from the Airport to Barcelona
How to get to the UPF?
UPF location map (Ciutadella campus)
Visit Barcelona Transportation
How to get to CREI (Universitat Pompeu Fabra) from the nearest metro station?
The nearest metro station is “Ciutadella-Vila Olímpica” and belongs to L4 line (yellow one). When you get the street (Ramon Trias Fargas) you just have to walk up and you will find the university on your left.
For further information you can visit:
Schaal, E. and Mathieu Taschereau-Dumouchel,
"Herding through booms and busts*"
Journal of Economic Theory, 2023, 210, article 105669
Week 1 June 21 – June 25
Monetary Policy, Inflation and Unemployment
Instructor: Jordi Galí
Selected Topics:
• The New Keynesian model with sticky prices and wages
• Wage inflation and unemployment: theory and evidence
• Real wage rigidities and monetary policy trade-offs
• Labor market frictions, unemployment, and monetary policy
Dates: June 21 – 25
Time: Lectures: 11:00 – 13:00 h (10 hours)
Price: 600 Euros (Students: 400 Euros)
Lectures:
Measuring the Effects of Fiscal Policy
Instructor: Fabio Canova
Selected Topics:
• Fiscal shocks: empirical evidence
• Fiscal shocks in stochastic general equilibrium models
• Fiscal rules and debt feedback
• Fiscal and monetary policy interactions
• Fiscal shocks at the time of crises
Dates: June 21 – 25
Time: Lectures: 14:30 – 16:30 h (10 hours) Computer demonstrations: 17:00 – 18:00 h (5 hours)
Price: 850 Euros (Students: 550 Euros)
Slides:
Week 2 June 28 – July 2
Financial Crises and Depressions
Instructor: Hans-Joachim Voth
Selected Topics:
• The origins of bubbles and lending booms: past, present and future
• Depressions and credit booms gone wrong: crédito linkages, multipliers and real effects
• Monetary policy and asset prices: how should central banks react to bubbles?
• Ruling out instability: what role for bank supervision and financial regulators?
Dates: June 28 – July 2
Time: 09:00 – 11:00 h (10 hours)
Price: 600 Euros (Students: 400 Euros)
Slides:
Economic Growth and Development
Instructor: Xavier Sala-i-Martin
Selected Topics:
• The world distribution of income
• Growth, poverty and inequality: the role of globalization
• Neoclassical growth theory: the power of diminishing returns
• The effectiveness of international aid in promoting economic development. Randomized field experiments
• The role of incentives
• Government, taxation, the Welfare State and growth
• Ideas and growth: R&D, patents. AIDS, malaria and generics
• Africa: successes, failures, diagnostics and priorities
Dates: June 28 – July 2
Time: 11:30 – 13:30 h (10 hours)
Price: 600 Euros (Students: 400 Euros)
Asset Bubbles and Economic Policy
Instructor: Jaume Ventura
Selected Topics:
• Review of empirical research on asset prices and interest rates
• A macroeconomic framework to study the effects of asset bubbles
• The welfare effects of different types of bubbles
• Application (1): international propagation of financial shocks and global imbalances
• Application (2): credit booms, credit busts, and the current crisis
Dates: June 28 – July 2
Time: 15:00 – 17:00 h (10 hours)
Price: 600 Euros (Students: 400 Euros)
Lectures
Nº 1
Nº 2
Nº 3
Nº 4
Fabio Canova
Fabio Canova earned his PhD in Economics at the University of Minnesota in 1988. He held academic positions at Brown University, Rochester University, the European University Institute, the University of Catania, the University of Modena, Universitat Pompeu Fabra and University of Bern. He has been a Research Professor at IGIER-Bocconi and Part-Time Professor at the University of Southampton and the London Business School. He is currently holding a Research Professorship with ICREA. He has taught courses at various summer schools, at the Bank of Italy, the ECB, the Bank of England, UK Treasury and UK Foreign Office, Riksbank, Bundesbank, Swiss National Bank, Banco de Argentina, Banco do Brazil, Bank of Spain, Banco do Portugal, Reserve Bank of South Africa, Banco de Peru among other places and he has been a consultant to the Bank of England, the IMF, the ECB, the Bank of Spain and the Bank of Italy. He is a Research Fellow at the CEPR, a Research Associate at CREI, a Member of the CEPR Dating Committee, a Member of the Scientific Committee of the Euro Area Business Cycle Network (EABCN), a Member of the Advisory Board of Dynare, Program Director of the Budapest School for Central Banking Studies, Founder of the Applied Macroeconomic Network (AMeN) and Co-editor of the Journal of the European Economic Association. His research interests include quantitative macroeconomics, monetary theory, fiscal policy, international business cycles and macroeconometrics.
Selected publications:
- “How much Structure in Empirical Models”, Palgrave Handbook of Applied Econometrics, 2008.
- Methods for Applied Macroeconomic Research, Princeton University Press, (Princeton, NJ), 2007.
- “Similarities and Convergence in G7 Cycles”, (with M. Ciccarelli and E. Ortega), Journal of Monetary Economics, 2007.
- “Price Dispersion in Monetary Union: the Role of Fiscal Shocks”, (with E. Pappa), Economic Journal, 2007.
- “Estimating Multicountry VARs”, (with M. Ciccarelli), International Economic Review, forthcoming.
- “Back to Square One: Identification Issues in DSGE Models”, (with L. Sala), Journal of Monetary Economics, forthcoming.
Jordi Galí
Jordi Galí earned his PhD in Economics at the Massachusetts Institute of Technology (MIT) in 1989. Currently he is Director and Senior Researcher of the Center for Research in International Economics (CREI) and a Professor at Universitat Pompeu Fabra. He has held academic positions at New York University and Columbia University. He has been a Visiting Professor at MIT. He has served as a co-editor of the Journal of the European Economic Association, and is currently an associate editor of the American Economic Journal-Macroeconomics and the International Journal of Central Banking. He is a Research Fellow at the CEPR, a Research Associate at the NBER, and a Fellow of the Econometric Society. He was co-recipient of the 2005 Yrjo Jansson Award in Economics. His research interests include macroeconomics and monetary theory.
Selected publications:
- Monetary Policy, Inflation and the Business Cycle: An Introduction to the New Keynesian Framework, Princeton University Press, (Princeton, NJ), 2008.
- “Real Wage Rigidities and the New Keynesian Model”, (with O. Blanchard), Journal of Money, Credit and Banking, supplement to vol. 39, no. 1, 2007.
- “Monetary Policy and Exchange Rate Volatility in a Small Open Economy,” (with T. Monacelli), Review of Economic Studies, 2005.
- “Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory”, (with R. Clarida and M. Gertler), Quarterly Journal of Economics, January 2000.
- “The Science of Monetary Policy: A New Keynesian Perspective,” (with R. Clarida and M. Gertler), Journal of Economic Literature, December 1999.
Xavier Sala-i-Martin
Xavier Sala-i-Martin earned his PhD in Economics at Harvard University in 1990. Currently he is Professor in the Department of Economics at Columbia University, and a Visiting Professor at Universitat Pompeu Fabra (UPF). He has been an Associate Professor at the Department of Economics at Yale University and Visiting Professor at Harvard University. He has also taught at UPF, Harvard University, New York University, Yale University and the International Monetary Fund, among other places. He is senior economic adviser to the World Economic Forum (WEF), author of the Global Competitiveness Report of the WEF, Research Associate at the NBER and has been consultant to the World Bank and the International Monetary Fund. In 2006 he was the President of FC Barcelona and he is now the President of its Economic Commission. His research interests include economic growth, macroeconomics, public finance and social security, health and population economics, and monetary economics.
Selected publications:
- “The World Distribution of Income: Falling Inequality and Convergence, Period”, Quarterly Journal of Economics, May 2006.
- “Determinants of Long-Term Growth: A Bayesian Average of Classical Estimates (Bace) Approach” (with G. Doppelhoffer and R. Miller), American Economic Review, September 2004.
- “The Economic Tragedy of the XXth Century: Growth in Africa” (with E.V. Artadi), inAfrican Competitiveness Report of the World Economic Forum, September 2003.
- Economic Growth, 2nd Edition, MIT Press, Cambridge, MA, 2003 (with R. Barro).
- “Health Investment Complementarities under Competing Risks,” (with W. Dow and T. Philipson), American Economic Review, December 1999.
Jaume Ventura
Jaume Ventura earned his PhD in Economics at Harvard University in 1995. Currently he is a Senior Researcher at Center for Research in International Economics (CREI). Previously, he has held academic positions at MIT and the University of Chicago. He is co-director of the International Macroeconomics Programme of the CEPR and has served as editor of the Economic Journal. He is also a Research Associate at the NBER, and has served as a consultant to the IMF, the World Bank and the Inter-American Development Bank. His research interests include international economics and macroeconomics.
Selected publications:
- “Comparative Advantage and the Cross-section of Business Cycles (with A. Kraay) Journal of the European Economic Association, December 2007.
- “Country Portfolios” (with A. Kraay, N. Loayza and L. Servén) Journal of the European Economic Association, June 2005.
- “Current Accounts in the Long and Short Run” (with A. Kraay) NBER Macroeconomics Annual 2002, July 2003.
- “Trade Integration and Risk Sharing” (with A. Kraay), European Economic Review, June 2002.
- “A Portfolio View of the Current Account Deficit”, Brookings Papers, July 2001.
- “Current Accounts in Debtor and Creditor Countries” (with A. Kraay), Quarterly Journal of Economics, November 2000.
Hans-Joachim Voth
Hans-Joachim Voth earned his PhD in Economics at Oxford University in 1996. Currently he is ICREA Research Professor of Economics and Economic History at UPF. He is a CEPR Research Fellow, and a member of the editorial board of the Journal of Economic History. He has won the Gino Luzzatto Prize for the best thesis in European economic history, the Alexander Gershenkron Prize for best thesis on non-US topics, and a Leverhulme Prize for outstanding researchers under the age of 35. His work has appeared in the Quarterly Journal of Economics, American Economic Review, the European Economic Review, the Journal of Economic History, Explorations in Economic History, and in a book with Oxford University Press. He has held visiting appointments at Stanford, MIT, Princeton and Stern Business School (NYU). He has acted as an advisor to the German Finance Ministry’s Working Group on Financial Market Reform; to the CEO of the German Stock Exhange; and to the German Trade Unions Movement (DGB). His research interests are in financial and economic history and macroeconomics.
Selected publications:
- “Betting on Hitler: The Value of Political Connections in Nazi Germany” (with T. Ferguson),Quarterly Journal of Economics, May2008.
- “Interest Rate Restrictions in a Natural Experiment: Loan Allocation and the Change in the Usury Laws in 1714” (with P. Temin), Economic Journal, May 2008.
- “Credit Rationing and Crowding Out during the Industrial Revolution: Evidence from Hoare’s Bank, 1702-1862” (with P. Temin), Explorations in Economic History, July 2005.
- “Riding the South Sea Bubble” (with P. Temin), American Economic Review, December 2004.
- “With a Bang, Not a Whimper: Pricking Germany’s “Stockmarket Bubble” in 1927 and the Slide into Depression”, Journal of Economic History, 2003.
Download file
Download file
Barcelona receives thousands of visitors, especially in summer.
Please, make your reservations directly as soon as possible.
Residence Halls
Residence Hall for Researchers (comfort)
C/Hospital, 64
08001-Barcelona
Tel. (+34) 93 443 8610
Fax. (+34) 93 442 8202
investigadors@resa.es
https://www.resa.es/
Residència Universitària “La Ciutadella”
Pg. Pujades, 33-37
Tel. (+34) 902444447
resa@resa.es
https://www.resa.es
Residència Universitària Campus del Mar
Passeig Salvat Papasseit, 4
08003 Barcelona
Tel. (+34) 933 904 000
https://www.resa.es
Residencia Melondistrict
c/Sancho de Ávila 22
Tel. (+34) 932178812
https://www.melondistrict.com
Residencias Juevenes-El Campus
C/Mallorca, 191, Pral.
jmpresi@arrakis.es
https://www.arrakis.es/~jmpresi/index.htm
APIMEC Residencia Universitaria
C/Bruc, 136
residencia.apimec@caixaterrasa.com
https://www.habitatgejove.com/arrel_eg/index_i.html
BARCELONAUTA
C/Sardenya, 326-328 entol. 2
bcnauta@comb.es
Hotels
Hotel H10 Marina Barcelona (4*)
Address: Av Bogatell, 64-68
Phone: 933097917 / 933003310 (fax)
Web: https://www.h10.es
E-mail: h10.marina.barcelona@h10.es
Hotel Icaria Barcelona (4*)
Address: Av Icària, 195-197
Phone: 932218200 / 932212458 (fax)
Web: https://www.sbhotels.es
E-mail: hotel@icaria.barcelona
Hotel Silken Diagonal (4*)
Address: Av. Diagonal, 205
Phone: 934 895 300 / 934 895 309 (fax)
Web: https://www.hoteles-silken.com/hoteles/index2.php?idhotel=19
E-mail: hotel.diagonalbcn@hoteles-silken.com
Hotel Glòries (3*)
Address: Padilla, 173 (with Gran Via)
Phone: 932 650 808
Web: https://www.hotelglories.com/
E-mail: reservas@hotelglories.com
Hotel Park Hotel (3*)
Address: Av Marquès de l’Argentera, 11
Phone: 933196000 / 933194519 (fax)
E-mail: parkhotel@parkhotelbarcelona.com
Hotel Pere IV (3*)
Address: C Pallars, 128*130
Phone: 933 209 650 / 933 009 060 (fax)
Web: https://www.euro-mar.com
E-mail: hotelpereiv@euro-mar.com
Hotel Oasis II (2*)
Address: Pla Palau, 17
Telèfon: 933194396 / 933104874 (fax)
Hotel Lyon (1*)
Address: C General Castaños, 6
Phone: 933194360 / 933194431 (fax)
Web: https://www.gargallo-hotels.com
E-mail: lyon@gargallo-hotels.com
Useful Links
How to get to the city from the airport?
Please visit: Barcelona Tourism (then have a look at “planning your journey”)
There are several ways:
- by bus: Aerobus. This bus takes you to and from the airport every 15 minutes and stops at Estació de Sants, Plaça Espanya, Plaça Catalunya i Passeig de Gràcia. A ticket costs € 3.90
- by bus: 106. This bus takes you only to Plaça Espanya. A ticket costs €1.30
- by train: RENFE. Trains depart every 30 minutes and stop at Barcelona Sants, Passeig de Gràcia and Estació de França
- by taxi. A taxi ride can cost from € 30 to 35 depending on the day, time, etc.
- by rental car
Information about transportation from the Airport to Barcelona
How to get to the UPF?
UPF location map (Ciutadella campus)
Visit Barcelona Transportation
How to get to CREI (Universitat Pompeu Fabra) from the nearest metro station?
The nearest metro station is “Ciutadella-Vila Olímpica” and belongs to L4 line (yellow one). When you get the street (Ramon Trias Fargas) you just have to walk up and you will find the university on your left.
For further information you can visit:
