Classes
Tuesdays and Thursday 10:00am – 11:30am
Seigle Hall 306
Organizers
Costas Azariadis
Office: Seigle 315G
Office Hours: MW 11:00am – 12:00pm
Email: azariadi@wustl.edu
Exam
Take-home due final exam week or research paper.
Lecture Notes
Lecture 6
Lecture 7
Topics
(a) Introduction to financial markets with limited enforcement. Collateral enforcement vs. market exclusion. Equilibria and optima. Financial Crises and implications for business cycles. [Three weeks]
(b) Lending of last resort. Financial frictions in growth theory. Implications for asset returns and the distribution of wealth. [Two weeks]
(c) Property rights and growth. [Two weeks]