SyllabusBLM

MACROECONOMÍA AVANZADA: FIRMS IN THE
MACROECONOMY
INSTRUCTORES: ALFONSO CEBREROS Y BERNABÉ LÓPEZ-MARTÍN
El objetivo de este curso consiste en desarrollar una serie de modelos teóricos y
herramientas de análisis que sean de utilidad para el análisis macroeconómico. En
particular, este curso se enfocará en las empresas como la unidad económica básica
para entender la determinación de la actividad económica agregada y las consecuencias de ciertas políticas económicas y/o cambios en el entorno económico de
un país.
Contacto
Alfonso Cebreros: [email protected]
Bernabé López-Martín: [email protected]
Dada la naturaleza del curso no existe un libro de texto que cubra de manera
adecuada los temas que se presentarán en clase. El temario no sólo cubre los temas
que se verán en clase, sino también una lista larga de referencias útiles en cada
tema. Estas referencias no son lecturas obligatorias del curso (lecturas requeridas
para el curso serán señaladas conforme avance el semestre).
1. Primera Mitad (Alfonso Cebreros)
Página del curso (primera mitad): https://sites.google.com/site/macroavanzadafirms/
(1) Determinantes Microeconómicos de las Fluctuaciones Agregadas
(a) Granularidad: La importancia de las empresas más grandes en la fluctuaciones agregadas
(i) Gabaix, Xavier. (2011). “The Granular Origin of Aggregate
Fluctuations.” Econometrica.
(ii) Baqaee, David y Emmanuel Farhi. (2017). “The Macroeconomic
Impact of Microeconomic Shocks: Beyond Hulten’s Theorem.”
Working paper.
(iii) Carvalho, Vasco y Xavier Gabaix. (2013). “The Great Diversification and Its Undoing.” American Economic Review.
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(iv) Di Giovanni, Julian. Andrei A. Levchenko e Isabelle Mejean.
(2014). “Firms, Destinations, and Aggregate Fluctuations.” Econometrica.
(v) Di Giovanni, Julian y Andrei A. Levchenko. (2012). “Country
Size, International Trade, and Aggregate Fluctuations in Granular Economies.” Journal of Political Economy.
(vi) Freund, Caroline y Martha Denisse Pierola. (2015). “Export
Superstars.” The Review of Economics and Statistics.
(vii) Alessandria, George. Horag Choi, Joseph P. Kaboski y Virgilio
Midrigan. (2015). “Microeconomic uncertainty, international
trade, and aggregate fluctuations.” Journal of Monetary Economics.
(viii) Barrot, Jean- Nöel y Julien Sauvagnat. (2016). “Input Specificity and the Propagation of Idiosyncratic Shocks in Production
Networks.” Quarterly Journal of Economics.
(b) La composición sectorial de la economía y las fluctuaciones agregadas
(i) Shea, John. (2002). “Complementarities and Comovements.”
Journal of Money, Credit, and Banking.
(ii) Foerster, Andrew. Pierre-Daniel G. Sarte y Mark W. Watson.
(2011). “Sectoral versus Aggregate Shocks: A Structural Factor
Analysis of Industrial Production.” Journal of Political Economy.
(iii) Acemoglu, Daron.
Vasco M. Carvalho, Asuman Ozdaglar y
Alireza Tahbaz-Salehi. (2012). “The Network Origins of Aggregate Fluctuations.” Econometrica.
(iv) Atalay, Enghin. (2017). “How Important Are Sectoral Shocks?”
American Economic Journal: Macroeconomics.
(v) Garin, Julio. Michael J. Pries y Eric R. Sims. (2018). “The
Relative Importance of Aggregate and Sectoral Shocks and the
Changing Nature of Economic Fluctuations.” American Economic Journal: Macroeconomics.
(vi) Caliendo, Lorenzo. Fernando Parro, Esteban Rossi-Hansberg
y Pierre-Daniel Sarte. (2016). “The Impact of Regional and
Sectoral Productivity Changes on the U.S. Economy.” Review
of Economic Studies (forthcoming).
(2) Modelos de comercio con empresas heterogéneas
(a) Modelos Básicos: Competencia Monopolística y Preferencias CES
(i) Capítulo 6. Feenstra, Robert C. (2015). Advanced International
Trade. Segunda Edición. Princeton University Press.
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(ii) Dixit, Avinash y Joseph E. Stiglitz. (1977). “Monopolistic Competition and Optimum Product Diversity.” American Economic
Review.
(iii) Krugman, Paul. (1980). “Scale Economies, Product Differentiation, and the Pattern of Trade.” American Economic Review.
(b) Modelos con empresas heterogéneas
(i) Bernard, Andrew B. J. Bradford Jensen, Stephen J. Redding y
Peter K. Schott. (2007). “Firms in International Trade.” Journal of Economic Perspectives.
(ii) Melitz, Marc. (2003). “The Impact of Trade on Intra-industry
Reallocations and Aggregate Industry Productivity.” Econometrica.
(iii) Melitz, Marc y Stephen J. Redding. (2015). “Heterogeneous
Firms and Trade.” Handbook of International Economics, Volume 4.
(c) Aplicaciones
(i) Melitz, Marc y Stephen J. Redding. (2015). “New Trade Models,
New Welfare Implications.” American Economic Review.
(ii) Hsieh, Chang-Tai y Ralph Ossa. (2016). “A Global View of
Productivity Growth in China.” Journal of International Economics.
(iii) Melitz, Marc. Elhanan Helpman y Stephen Yeaple. (2004). “Exports versus FDI with Heterogeneous Firms.” American Economic Review.
(iv) Melitz, Marc y Fabio Ghironi. (2005). “International Trade and
Macroeconomic Dynamics with Heterogeneous Firms.” Quarterly Journal of Economics.
(v) Cravino, Javier y Andrei A. Levchenko. (2017). “Multinational
Firms and International Business Cycle Transmission.” Quarterly Journal of Economics.
2. Segunda Mitad (Bernabé López-Martín)
(1) Introducción
(a) Banerjee, A.V. y E. Duflo. (2005). Growth Theory through the Lens
of Development Economics. Handbook of Economic Growth, Chapter
7, Volume 1A.
(b) Jones, C.I. (2015). “The Facts of Economics Growth.” NBER WP
21142.
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(c) Restuccia, D. y R. Rogerson. (2017). “The Causes and Costs of Misallocation.” Journal of Economic Perspectives.
(2) “Misallocation”: Teoría y Evidencia Empírica
(a) Hsieh, C.T. y P.J. Klenow. (2009). “Misallocation and Manufacturing
TFP in China and India.” Quarterly Journal of Economics.
(b) Hsieh, C.T. y P.J. Klenow (2014). “The Life Cycle of Plants in India
and Mexico.” Quarterly Journal of Economics.
(c) Restuccia, D. y R. Rogerson. (2008). “Policy distortions and aggregate
productivity with heterogeneous establishments.” Review of Economic
Dynamics.
(3) Bienes Intermedios y Productividad Agregada
(a) Amodio, F. y M. Di Maio (2017). “Making Do With What You Have:
Conflict, Input Misallocation and Firm Performance.” The Economic
Journal.
(b) Grobovsek, J. (2017). “Development Accounting with Intermediate
Goods.” B.E. Journal of Macroeconomics (forthcoming).
(c) Jones, C.I. (2011). “Intermediate Goods and Weak Links in the Theory
of Economic Development.” American Economic Journal: Macroeconomics.
(d) Levine, D.K. (2012). “Production chains.” Review of Economic Dynamics.
(4) Fricciones Financieras y “Misallocation” (y Productividad Endógena)
(a) Caselli, F. y N. Gennaioli. (2013). “Dynastic Management.” Economic
Inquiry.
(b) Gorodnichenko, Y. y M. Schnitzer. (2013). “Financial Constraints
and Innovation: Why Poor Countries Don’t Catch Up.” Journal of
the European Economic Association.
(c) Lopez-Martin, B. (2016). “From Firm Productivity Dynamics to Aggregate Efficiency.” World Bank Economic Review (ABCDE Conference Proceedings).
(d) Lopez-Martin, B. (2016). “Informal Sector Misallocation.” Documento
de Investigación Banco de México 2016-09.
(e) Midrigan, V. y D.Y. Xu. (2010). “Finance and Misallocation: Evidence from Plant-level Data.” NBER Working paper 15647.
(5) Instituciones, Empresas y Productividad Agregada
(a) Acemoglu, D., P. Antras y E. Helpman. (2007). “Contracts and Technology Adoption.” American Economic Review.
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(b) Amirapu, A. y M. Gechter. “Labor Regulations and the Cost of Corruption: Evidence from the Indian Firm Size Distribution.” Working
paper.
(c) Bachas, P., R.N. Fattal Jaef y A. Jensen. “Size-Dependent Tax Enforcement and Compliance.” World Bank, Policy Research Working
Paper 8363.
(d) Guner, N., G. Ventura y Y. Xu (2008). “Macroeconomic implications
of size-dependent policies.” Review of Economic Dynamics.
(e) Hill, E. y D. Perez-Reyna (2015). “Public Law Enforcement: More is
not Always Better.” Working paper.
(f) Lopez, J.J. (2017). “A quantitative theory of tax evasion.” Journal of
Macroeconomics.
(g) Martin, L.A., S. Nataraj y A. Harrison (2017). “In with the Big,
Out with the Small: Removing Small-Scale Reservations in India.”
American Economic Review.
(h) Misch, F. y C. Saborowski (2018). “Resource Misallocation and Productivity: Evidence from Mexico.” IMF WP/18/112.
(i) Nunn, N. (2007). “Relationship-Specificity, Incomplete Contracts, and
the Pattern of Trade.” Quarterly Journal of Economics.
(j) Ranasinghe, A. (2017). “Property Rights, Extortion and the Misallocation of Talent.” European Economic Review.
(k) Sanchez-Vela, C. y J.N. Valero-Gil (2011). “The effect of firm-size
dependent policies on the economy: the case of the Repecos law in
Mexico.” IDB WP-216.
(l) Ulyssea, G. (2018). “Firms, Informality and Development: Theory and
Evidence from Brazil.” American Economic Review.
(6) “Misallocation” en Agricultura
(a) Adamopoulos, T., L. Brandt, J. Leight y D. Restuccia (2016). “Misallocation, Selection, and Productivity: A Quantitative Analysis with
Panel Data from China.” Working paper.
(b) Adamopoulos, T. y D. Restuccia (2014). “The Size Distribution of
Farms and International Productivity Differences.” American Economic Review.
(c) Chari, A.V., E.M. Liu, S.Y. Wang y Y. Wang (2017). “Property
Rights, Land Misallocation and Agriculture Efficiency in China.” NBER
WP 24099.
(d) Gollin, D., S. Parente y R. Richardson (2002). “The Role of Agriculture
in Development.” American Economic Review.
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(e) Gottlieb, C. y J. Grobovsek (2016). “Communal Land and Agricultural
Productivity.” Working paper.
(f) Lagakos, D. y M.E. Waugh (2013). “Selection, Agriculture, and CrossCountry Productivity Differences.” American Economic Review.
(g) Restuccia, D., D.T. Yang y X. Zhu (2008). “Agriculture and aggregate productivity: A quantitative cross-country analysis.” Journal of
Monetary Economics.
(7) Tópicos en Productividad Agregada y de la Firma
(a) Atkin, D., A. Chaudry, S. Chaudry, A.K. Khandelwal y E. Verhoogen
(2017). “Organizational Barriers to Technology Adoption: Evidence
from Soccer-ball Producers in Pakistan.” Quarterly Journal of Economics.
(b) Zingales, L. (2017). “Towards a Political Theory of the Firm.” Journal
of Economic Perspectives.