19.2. Lecture: Benefits of international financial liberalisation in the 2-period model of intertemporal trade; Seminar: BoP terminology and identities; 2-period model - exercises

26.2. Lecture: Further issues: borrowing constraints, productive economy, large economies; Seminar: 2-period model extensions - exercises

4.3. Lecture: Welfare implications of sudden stops in international financial flows; Seminar: Sudden stops and capital flight - exercises

11.3. Lecture: Twin deficits in the OLG model, Feldstein-Horioka puzzle; Seminar: OLG model - exercices

18.3. Lecture: CA dynamics in the infinite-horizon model with perfect financial markets; Seminar Infinite horizon - exercises

25.3. Lecture: Long-term economic growth with international borrowing constraints; Seminar: Terms-of-trade shocks and CA balance

(1.4. Easter holiday)

8.4. Lecture: Price level convergence and the Ballassa-Samuelson effect; Seminar guest lecture: Equilibrium real interest rate (r*) in large vs. small-open economies (speaker: Jan Vlček)

15.4. Lecture: Financial imperfections and international financial flows; Seminar: Financial imperfections - 2 country model

22.4. Lecture i: Fundamental-based vs. self-fulfilling currency crisis; Lecture ii: Exchange rate mismatches and their implications

29.4. Lecture: OCA and exchange rate regime choice; Seminar: CNB's analyses for euro adoption

6.5. Lecture: Inflation targeting in small open economies, the exchange rate transmission channel; Seminar: Performance of IT during the GFC in comparison with hard pegs

13.5. Lecture: Foreign exchange interventions under the inflation targeting regime; Seminar: Exchange rate as an unconventional monetary policy instrument