Advanced Macroeconomics

Coordinator: prof. dr. P.A. Gautier

Lecturers: prof. dr. P.A. Gautier

  • Pieter Gautier
    Pieter Gautier
Pieter Gautier


Personal website

Fields:Macro, labor, applied micro

Pieter Gautier (PhD Vrije Universiteit Amsterdam) is professor in macro labor. He received a VIDI grant from NWO in 2003 and held visiting positions at Georgetown University and MIT. He was associate editor at the Journal of the European Economic Association between 2009 and 2015, is fellow at CEPR, CES/Ifo, IZA and one of the founders of the SaM (search and matching) network. He is scientific advisor of the CPB and helped to design matching mechanisms for high school students and doctors.

Research interests:

His main research interests are: (i) search and matching models of the labor, marriage and housing market, (ii) school assignment models, (iii) competing mechanisms.

Classes taught:

BSc: economics for the global era, personnel economics, macroeconomics. Msc/ PhD: Advanced macroeconomics, macroeconomics of the labor market

Selected recent publications

Directed search in the housing market (2016) with Jim Albrecht and Susan Vroman , Review of Economic Dynamics, 19-1

Employment protection, technology choice, and worker allocation (2016) with with Eric J. Bartelsman and Joris de Wind, Forthcoming, International Economic Review.

Efficient entry in competing auctions (2014) with Jim Albrecht and Susan Vroman, American Economic Review, 104,3288-96.

On-the-job search, mismatch and efficiency (2010) with Coen N. Teulings and Aico van Vuuren, Review of Economic Studies, 77-1, 245-272.

Equilibrium directed search with multiple applications (2006) with J. Albrecht and S. Vroman, Review of Economic Studies, 73, 869-91.

Course objective

The students will be able to actively read current literature and embark on their own research projects using the knowledge gained about the analytical, mathematical, and statistical tools of modern macroeconomics. The tools include dynamic optimization, signal extraction, Nash bargaining, and the basic building blocks of DSGE models.

Course content

This course provides coverage at an advanced level of the building blocks of macroeconomics. Models of economic growth will be built up from intertemporal optimization decisions of firms and households.
Special attention is given to the distribution of income (i.e. the implications of modern growth theory for the theory of Piketty). Next, the course will present the basic tools of Real Business Cycle and New Keynesian models. We also consider modern theories of financial crises and pay a lot of attention to the recent financial and euro crisis. Then, we will consider equilibrium search models which form the core of macro labor. Finally, we discuss budget deficits and Ricardian equivalence plus new political economy models where the behavior of policy makers are part of the model.

Course reading

Romer, David Advanced Macro Economics. 3rd edition, McGraw Hill.

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