Report NEP-MAC-2018-04-09

This is the archive for NEP-MAC, a report on new working papers in the area of Macroeconomics. Soumitra K Mallick issued this report. It is usually issued weekly.

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Other reports in NEP-MAC

The following items were announced in this report:

• P. Andrade & J. Galí & H. Le Bihan & J. Matheron, 2018. "The Optimal Inflation Target and the Natural Rate of Interest," Working papers 670, Banque de France.
• Tarne, Ruben, 2018. "Proposals for monetary reform: A critical assessment using the general quantity equation by Wolfgang Stützel," IPE Working Papers 102/2018, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
• Michael D. Bordo & Pierre Siklos, 2017. "Central Banks: Evolution and Innovation in Historical Perspective," Economics Working Papers 17105, Hoover Institution, Stanford University.
• François Geerolf & Thomas Grjebine, 2018. "Property Tax Shocks and Macroeconomics," Working Papers 2018-03, CEPII research center.
• Kopiec, Pawel, 2018. "Interbank Market Turmoils and the Macroeconomy," MPRA Paper 85028, University Library of Munich, Germany.
• Michael D. Bordo & Andrew T. Levin, 2017. "Central Bank Digital Currency And The Future Of Monetary Policy," Economics Working Papers 17104, Hoover Institution, Stanford University.
• Claudio Borio & Piti Disyatat & Mikael Juselius & Phurichai Rungcharoenkitkul, 2018. "Monetary policy in the grip of a pincer movement," BIS Working Papers 706, Bank for International Settlements.
• Goodness C. Aye & Rangan Gupta & Chi Keung Marco Lau & Xin Sheng, 2018. "Is There a Role for Uncertainty in Forecasting Output Growth in OECD Countries? Evidence from a Time Varying Parameter-Panel Vector Autoregressive Model," Working Papers 201823, University of Pretoria, Department of Economics.
• William Gatt, 2018. "Housing boom-bust cycles and asymmetric macroprudential policy," CBM Working Papers WP/02/2018, Central Bank of Malta.
• Michael D. Bordo & Arunima Sinha, 2016. "A Lesson from the Great Depression that the Fed Might Have Learned: A Comparison of the 1932 Open Market Purchases with Quantitative Easing," Economics Working Papers 16113, Hoover Institution, Stanford University.
• José Dorich & Nicholas Labelle & Vadym Lepetyuk & Rhys R. Mendes, 2018. "Could a Higher Inflation Target Enhance Macroeconomic Stability?," Staff Working Papers 18-17, Bank of Canada.
• Jacquinot, Pascal & Lozej, Matija & Pisani, Massimiliano, 2018. "Labour tax reforms, cross-country coordination and the monetary policy stance in the euro area: A structural model-based approach," Research Technical Papers 2/RT/18, Central Bank of Ireland.
• Adriel Jost, 2018. "Cultural Differences in Monetary Policy Preferences," Working Papers 2018-02, Swiss National Bank.
• Hanna O. Sakhno, 2018. "Central Bank Communication In The Xxi Century: A Survey Of Theory And Evidence," HSE Working papers WP BRP 16/PSP/2018, National Research University Higher School of Economics.
• Nikolay Chernyshev, 2018. "From Productivity Shifts to Economic Growth: Intersectoral Linkage as an Amplifying Factor," CDMA Working Paper Series 201801, Centre for Dynamic Macroeconomic Analysis.
• Falk Bräuning, 2017. "The liquidity effect of the Federal Reserve’s balance sheet reduction on short-term interest rates," Current Policy Perspectives 18-1, Federal Reserve Bank of Boston.
• Jarociński, Marek & Karadi, Peter, 2018. "Deconstructing monetary policy surprises: the role of information shocks," Working Paper Series 2133, European Central Bank.
• Kurt Mitman & Iourii Manovskii & Marcus Hagedorn, 2017. "Monetary Policy in Incomplete Market Models: Theory and Evidence," 2017 Meeting Papers 1605, Society for Economic Dynamics.
• Andrea Boitani & Salvatore Perdichizzi, 2018. "Public Expenditure Multipliers in recessions. Evidence from the Eurozone," DISCE - Working Papers del Dipartimento di Economia e Finanza def068, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
• De Sola Perea, Maite & Dunne, Peter G. & Puhl, Martin & Reininger, Thomas, 2018. "Sovereign Bond-Backed Securities: A VAR-for-VaR and Marginal Expected Shortfall Assessment," Research Technical Papers 3/RT/18, Central Bank of Ireland.
• Lüthi, Samuel & Wolter, Stefan C., 2018. "Are Apprenticeships Business Cycle Proof?," IZA Discussion Papers 11374, Institute of Labor Economics (IZA).
• Balázs Egert, 2018. "The quantification of structural reforms: extending the framework to emerging market economies," EconomiX Working Papers 2018-19, University of Paris Nanterre, EconomiX.
• Balazs Egert, 2018. "The Quantification of Structural Reforms: Extending the Framework to Emerging Market Economies," CESifo Working Paper Series 6921, CESifo.
• Maria Teresa Medeiros Garcia & Vítor Hugo Ferreira Carvalho, 2018. "A static approach to the Nelson-Siegel-Svensson model: an application for several negative yield cases," Working Papers REM 2018/35, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
• Huixin Bi & Eric M. Leeper & Campbell Leith, 2018. "Sovereign Default and Monetary Policy Tradeoffs," Research Working Paper RWP 18-2, Federal Reserve Bank of Kansas City.
• Nomahlubi Mavikela & Simba Mhaka & Andrew Phiri, 2018. "The inflation-growth relationship in SSA inflation targeting countries," Working Papers 1801, Department of Economics, Nelson Mandela University, revised Jan 2018.
• Bunn, Philip & Pugh, Alice & Yeates, Chris, 2018. "The distributional impact of monetary policy easing in the UK between 2008 and 2014," Bank of England working papers 720, Bank of England.
• Michael D. Bordo, 2017. "An Historical Perspective on the Quest for Financial Stability and the Monetary Policy Regime," Economics Working Papers 17108, Hoover Institution, Stanford University.
• Timothy Kane, 2017. "Presidents and the US Economy from 1949 to 2016," Economics Working Papers 17101, Hoover Institution, Stanford University.
• Roger E A Farmer, 2018. "The Role of Financial Policy," National Institute of Economic and Social Research (NIESR) Discussion Papers 491, National Institute of Economic and Social Research.
• Lancastre, Manuel, 2016. "Inequality and Real Interest Rates," MPRA Paper 85047, University Library of Munich, Germany.
• Claire Greene & Scott Schuh & Joanna Stavins, 2018. "The 2012 diary of consumer payment choice," Research Data Report 18-1, Federal Reserve Bank of Boston.
• International Monetary Fund, 2018. "Republic of Mozambique; 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Mozambique," IMF Staff Country Reports 18/65, International Monetary Fund.
• International Monetary Fund, 2018. "Pakistan; First Post-Program Monitoring Discussions-Press Release; Staff Report; and Statement by the Executive Director for Pakistan," IMF Staff Country Reports 18/78, International Monetary Fund.
• Francisco RUGE-MURCIA, 2018. "Asset Prices in a Small Production Network," Cahiers de recherche 02-2018, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
• Beetsma, Roel & Cima, Simone & Cimadomo, Jacopo, 2018. "A minimal moral hazard central stabilisation capacity for the EMU based on world trade," Working Paper Series 2137, European Central Bank.
• Cornand, Camille & Heinemann, Frank, 2018. "Monetary Policy Obeying the Taylor Principle Turns Prices Into Strategic Substitutes," Rationality and Competition Discussion Paper Series 90, CRC TRR 190 Rationality and Competition.
• Pedro Brinca & Miguel H. Ferreira & Francesco Franco & Hans A. Holter & Laurence Malafry, 2017. "Fiscal Consolidation Programs and Income Inequality," CEF.UP Working Papers 1703, Universidade do Porto, Faculdade de Economia do Porto.
• Leo Krippner & Michelle Lewis, 2018. "Real-time forecasting with macro-finance models in the presence of a zero lower bound," Reserve Bank of New Zealand Discussion Paper Series DP2018/04, Reserve Bank of New Zealand.
• Dr. Romain Baeriswyl & Camille Cornand & Bruno Ziliotto, 2018. "Observing and shaping the market: the dilemma of central banks," Working Papers 2018-03, Swiss National Bank.
• Roger Farmer & Pawel Zabczyk, 2018. "The Household Fallacy," NBER Working Papers 24393, National Bureau of Economic Research, Inc.
• Alexandra Born & Zeno Enders, 2018. "Global Banking, Trade, and the International Transmission of the Great Recession," CESifo Working Paper Series 6912, CESifo.
• Villacorta, Alonso, 2018. "Business cycles and the balance sheets of the financial and non-financial sectors," ESRB Working Paper Series 68, European Systemic Risk Board.
• International Monetary Fund, 2018. "Morocco; 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Morocco," IMF Staff Country Reports 18/75, International Monetary Fund.
• Ambrogio Cesa-Bianchi & M. Hashem Pesaran & Alessandro Rebucci, 2018. "Uncertainty and Economic Activity: A Multi-Country Perspective," CESifo Working Paper Series 6910, CESifo.
• International Monetary Fund, 2018. "Nigeria; 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Nigeria," IMF Staff Country Reports 18/63, International Monetary Fund.
• Bodnár, Katalin & Fadejeva, Ludmila & Hoeberichts, Marco & Peinado, Mario Izquierdo & Jadeau, Christophe & Viviano, Eliana, 2018. "Credit shocks and the European labour market," Working Paper Series 2124, European Central Bank.
• ,, 2018. "Financial Policy," CEPR Discussion Papers 12755, C.E.P.R. Discussion Papers.
• Kopiec, Paweł, 2018. "Employment Prospects and the Propagation of Fiscal Stimulus," MPRA Paper 85029, University Library of Munich, Germany.
• Michael Fidora & Claire Giordano & Martin Schmitz, 2018. "Real exchange rate misalignments in the euro area," Temi di discussione (Economic working papers) 1162, Bank of Italy, Economic Research and International Relations Area.
• He, Qichun, 2018. "Health and Innovation in a Monetary Schumpeterian Growth Model," MPRA Paper 85218, University Library of Munich, Germany.
• Luca Brugnolini, 2018. "Forecasting Deflation Probability in the EA: A Combinatoric Approach," CBM Working Papers WP/01/2018, Central Bank of Malta.
• Koichiro Kamada & Tetsuo Kurosaki & Ko Miura & Tetsuya Yamada, 2018. "Central Bank Policy Announcements and Changes in Trading Behavior: Evidence from Bond Futures High Frequency Price Data," IMES Discussion Paper Series 18-E-02, Institute for Monetary and Economic Studies, Bank of Japan.
• Onaran, Özlem, 2016. "Wage- versus profit-led growth in the context of globalization and public spending: the political aspects of wage-led recovery," Greenwich Papers in Political Economy 15817, University of Greenwich, Greenwich Political Economy Research Centre.
• Güneş Kamber & Benjamin Wong, 2018. "Global Factors and Trend Inflation," Reserve Bank of New Zealand Discussion Paper Series DP2018/01, Reserve Bank of New Zealand.
• Sebastian Müller & Gunther Schnabl, 2018. "The Brexit as a Forerunner: Monetary Policy, Economic Order and Divergence Forces in the European Union," CESifo Working Paper Series 6938, CESifo.
• Gros, Daniel, 2017. "Implications of the Expanding Use of Cash for Monetary Policy," CEPS Papers 12661, Centre for European Policy Studies.
• International Monetary Fund, 2018. "Belgium; 2018 Article IV Consultation - Press Release; Staff Report," IMF Staff Country Reports 18/71, International Monetary Fund.
• Don Bredin & Stilianos Fountas, 2018. "US Inflation and Inflation Uncertainty Over 200 Years," Discussion Paper Series 2018_04, Department of Economics, University of Macedonia, revised Apr 2018.
• International Monetary Fund, 2018. "Malaysia; 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Malaysia," IMF Staff Country Reports 18/61, International Monetary Fund.
• Nandipha Dondashe & Andrew Phiri, 2018. "Determinants of FDI in South Africa: Do macroeconomic variables matter?," Working Papers 1802, Department of Economics, Nelson Mandela University, revised Jan 2018.
• Raúl Chamorro Narváez, 2017. "Crecimiento económico y política fiscal: una revisión crítica de la literatura," Ensayos de Economía 16149, Universidad Nacional de Colombia Sede Medellín.
• Volckart, Oliver, 2018. "Technologies of money in the Middle Ages: the 'Principles of Minting'," Economic History Working Papers 87152, London School of Economics and Political Science, Department of Economic History.
• Nicholas Oulton, 2018. "The UK (and Western) Productivity Puzzle: Does Arthur Lewis Hold the Key?," Discussion Papers 1809, Centre for Macroeconomics (CFM).
• Hull, Isaiah & Olovsson, Conny & Walentin, Karl & Westermark, Andreas, 2017. "Manufacturing Decline and House Price Volatility," Working Paper Series 349, Sveriges Riksbank (Central Bank of Sweden), revised 01 Jul 2019.
• Alessandro RIBONI & Francisco RUGE-MURCIA, 2018. "Deliberation in Committees : Theory and Evidence from the FOMC," Cahiers de recherche 01-2018, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
• Eric Zwick, 2018. "The Costs of Corporate Tax Complexity," NBER Working Papers 24382, National Bureau of Economic Research, Inc.
• Tzuo Hann Law & Dongho Song & Amir Yaron, 2017. "Fearing the Fed: How Wall Street Reads Main Street," 2017 Meeting Papers 1632, Society for Economic Dynamics.
• Albertazzi, Ugo & Becker, Bo & Boucinha, Miguel, 2018. "Portfolio rebalancing and the transmission of large-scale asset programmes: evidence from the euro area," Working Paper Series 2125, European Central Bank.
• Aleksandar Vasilev, 2018. "A Real-Business-Cycle model with pollution and environmental taxation: the case of Bulgaria," Bulgarian Economic Papers bep-2018-03, Faculty of Economics and Business Administration, Sofia University St Kliment Ohridski - Bulgaria // Center for Economic Theories and Policies at Sofia University St Kliment Ohridski, revised Mar 2018.
• Raffaele Miniaci & Paolo Panteghini & Giulia Rivolta, 2018. "The Estimation of Reaction Functions under Tax Competition," CESifo Working Paper Series 6928, CESifo.
• B. Craig & D. Salakhova & M. Saldias, 2018. "Payments delay: propagation and punishment," Working papers 671, Banque de France.
• International Monetary Fund, 2018. "Namibia; Financial System Stability Assessment," IMF Staff Country Reports 18/77, International Monetary Fund.
• Roberto Duncan & Enrique Martínez García, 2018. "New Perspectives on Forecasting Inflation in Emerging Market Economies: An Empirical Assessment," Globalization Institute Working Papers 338, Federal Reserve Bank of Dallas.
• Manuel, Lancastre, 2016. "Age Milestones and Low Interest Rates, an Analytic Approach," MPRA Paper 85046, University Library of Munich, Germany.
• Susana Nudelsman, 2017. "Los regímenes cambiarios en América Latina," Ensayos de Economía 16147, Universidad Nacional de Colombia Sede Medellín.
• Emerson, Patrick M. & Knabb, Shawn D., 2018. "Demographic Uncertainty and Generational Consumption Risk with Endogenous Human Capital," IZA Discussion Papers 11358, Institute of Labor Economics (IZA).
• Alcidi, Cinzia & Thirion, Gilles, 2017. "Fiscal Risk Sharing and Resilience to Shocks: Lessons for the euro area from the US," CEPS Papers 12595, Centre for European Policy Studies.
• Vasilios Plakandaras & Rangan Gupta & Luis A. Gil-Alana & Mark E. Wohar, 2018. "Are BRICS Exchange Rates Chaotic?," Working Papers 201822, University of Pretoria, Department of Economics.
• Lance Taylor & Duncan Foley & Armon Rezai, 2017. "Demand Drives Growth all the Way," SCEPA working paper series. 2017-10, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.
• Pavlina R. Tcherneva, 2018. "The Job Guarantee: Design, Jobs, and Implementation," Economics Working Paper Archive wp_902, Levy Economics Institute.
• Yoon, Deok Ryong & Kim, Hyo Sang, 2017. "환율변화가 한국기업에 미치는 영향분석과 정책적 시사점: 기업데이터 분석을 중심으로 (The Impact of Exchange Rate Fluctuations on Korean Firms and Its Policy Implications)," Policy Analyses 17-9, Korea Institute for International Economic Policy.
• Sebnem Kalemli-Ozcan & Xiaoxi Liu & Ilhyock Shim, 2018. "Exchange rate appreciations and corporate risk taking," BIS Working Papers 710, Bank for International Settlements.
• Prada, Albino & Sanchez-Fernandez, Patricio, 2018. "Nivel de riqueza regional, bienestar y desarrollo [Regional wealth, well-being and development]," MPRA Paper 85338, University Library of Munich, Germany.
• Thibaud Cargoet & Jean-Christophe Poutineau, 2018. "Financial Disruption and State Dependant Credit Policy," Post-Print halshs-01683785, HAL.
• Loretta J. Mester, 2018. "The Economic Outlook, Monetary Policy, and Some Future Considerations for the Monetary Policy Agenda; 03.26.18; The Julis-Rabinowitz Center for Public Policy and Finance, Princeton University, Princet," Speech 95, Federal Reserve Bank of Cleveland.
• Cavallo, Eduardo A. & Fernández-Arias, Eduardo & Marzani, Matías, 2017. "Making International Financial Integration Work for Low-Saving Countries," IDB Publications (Working Papers) 8508, Inter-American Development Bank.
• Eric Rosengren, 2018. "Monetary, fiscal, and financial stability policy tools: are we equipped for the next recession?: remarks at the Tenth Conference of the International Research Forum on Monetary Policy, Washington, D.C," Speech 129, Federal Reserve Bank of Boston.
• Dunne, Peter G., 2018. "Positive Liquidity Spillovers from Sovereign Bond-Backed Securities," Research Technical Papers 5/RT/18, Central Bank of Ireland.
• Brecht Boone & Ewoud Quaghebeur, 2018. "Beyond Rational Expectations: The Effects Of Heuristic Switching In An Overlapping Generations Model," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 18/943, Ghent University, Faculty of Economics and Business Administration.
• Enzo Dia & Lunan Jiang & Lorenzo Menna & Lin Zhang, 2018. "Common Banking across Heterogenous Regions," CFDS Discussion Paper Series 2018/2, Center for Financial Development and Stability at Henan University, Kaifeng, Henan, China.
• Felix P. Ackon & Huberto M. Ennis, 2018. "The Fed's Discount Window: An Overview of Recent Data," Working Paper 18-8, Federal Reserve Bank of Richmond.
• Nathaniel G Arnold & Bergljot B Barkbu & H. Elif Ture & Hou Wang & Jiaxiong Yao, 2018. "A Central Fiscal Stabilization Capacity for the Euro Area," IMF Staff Discussion Notes 18/03, International Monetary Fund.
• Balamatsias, Pavlos, 2018. "Democracy and government spending," MPRA Paper 84975, University Library of Munich, Germany.
• Silvia Miranda-Agrippino & Giovanni Ricco, 2018. "Bayesian Vector Autoregressions," Discussion Papers 1808, Centre for Macroeconomics (CFM).
• Francois R. Velde, 2018. "The Neapolitan Banks in the Context of Early Modern Public Banks," Working Paper Series WP-2018-5, Federal Reserve Bank of Chicago.