The Fall 2021 Seminar in Applied Economics will feature John H. Cochrane. Cochrane will be presenting on “The Fiscal Theory of the Price Level”. In this seminar Professor Cochrane will be covering chapters 2, 3, 5 and 6 from his book "The Fiscal Theory of the Price Level".
"Monetary economics offers a surprisingly high ratio of talk to equations. We fancy ourselves a science in which equations speak for themselves. They do not. (They often do not speak directly in science either.) You will see that circumstance throughout this book. The equations are quite simple, but there is lots of debate about what they mean and how to read them, which variable causes which. Seeing the world through the lens of the model, finding what specifications might m
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