Report NEP-MAC-2019-11-25

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:

• Josh Davis & Alan M. Taylor, 2019. "The Leverage Factor: Credit Cycles and Asset Returns," NBER Working Papers 26435, National Bureau of Economic Research, Inc.
• Andrew Phiri, 2019. "Is Neo-Fisherian ‘alive’ in South Africa? A frequency domain causality approach," Working Papers 1911, Department of Economics, Nelson Mandela University, revised Nov 2019.
• Patrick Fève & Pablo Garcia Sanchez & Alban Moura & Olivier Pierrard, 2019. "Costly Default And Asymmetric Real Business Cycles," LIDAM Discussion Papers IRES 2019018, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
• Fève, Patrick & Garcia Sanchez, Pablo & Moura, Alban & Pierrard, Olivier, 2019. "Costly default and asymetric real business cycles," TSE Working Papers 19-1048, Toulouse School of Economics (TSE).
• Pincheira, Pablo & Hardy, Nicolás, 2019. "Forecasting Aluminum Prices with Commodity Currencies," MPRA Paper 97005, University Library of Munich, Germany.
• Kohlbrecher, Britta, 2019. "The (ir)relevance of real wage rigidity for optimal monetary policy," FAU Discussion Papers in Economics 07/2019, Friedrich-Alexander University Erlangen-Nuremberg, Institute for Economics.
• Laurence M. Ball & Sandeep Mazumder, 2019. "A Phillips Curve for the Euro Area," NBER Working Papers 26450, National Bureau of Economic Research, Inc.
• Alloza, Mario & Sanz, Carlos, 2019. "Dynamic Effects of Persistent Shocks," UC3M Working papers. Economics 29187, Universidad Carlos III de Madrid. Departamento de Economía.
• Elva Bova & Violeta Klyviene, 2019. "Macroeconomic Responses to Fiscal Shocks in Portugal," European Economy - Discussion Papers 096, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
• Valentina Aprigliano & Danilo Liberati, 2019. "Using credit variables to date business cycle and to estimate the probabilities of recession in real time," Temi di discussione (Economic working papers) 1229, Bank of Italy, Economic Research and International Relations Area.
• Stephen S. Poloz, 2019. "Technological Progress and Monetary Policy: Managing the Fourth Industrial Revolution," Discussion Papers 2019-11, Bank of Canada.
• Luca Fornaro, 2019. "A Theory of monetary union and financial integration," Economics Working Papers 1677, Department of Economics and Business, Universitat Pompeu Fabra, revised Apr 2021.
• Zhengyang Chen, 2019. "The Long-term Rate and Interest Rate Volatility in Monetary Policy Transmission," 2019 Papers pch1858, Job Market Papers.
• Daniel J. Lewis & Davide Melcangi & Laura Pilossoph, 2019. "Latent Heterogeneity in the Marginal Propensity to Consume," Staff Reports 902, Federal Reserve Bank of New York.
• Myroslav Pidkuyko, 2019. "Heterogeneous spillovers of housing credit policy," Working Papers 1940, Banco de España.
• Federico Bassi, 2019. "Capacity Utilization and the NAIRCU," CEPN Working Papers hal-02360456, HAL.
• José De Gregorio, 2019. "Inflation Targets in Latin America," Working Paper Series WP19-19, Peterson Institute for International Economics.
• Haraldsen, Kristine Wika & Ragnar, Nymoen & Sparrman, Victoria, 2019. "Labour market institutions, shocks and the employment rate," Memorandum 6/2019, Oslo University, Department of Economics.
• Kim, Minseong, 2019. "Symmetry condition and re-assessing Blanchard-Kiyotaki decades later," MPRA Paper 96945, University Library of Munich, Germany, revised 11 Nov 2019.
• Tweneboah Senzu, Emmanuel, 2019. "Creating an effective transparent banking and financial system in Ghana to promote foreign direct investment for the private sector," MPRA Paper 96910, University Library of Munich, Germany.
• Saroj Bhattarai & Arpita Chatterjee & Woong Yong Park, 2019. "Global Spillover Effects of US Uncertainty," Working Paper Series no107, Institute of Economic Research, Seoul National University.
• Liu, Chunping & Ou, Zhirong, 2019. "Has fiscal expansion inflated house prices in China? Evidence from an estimated DSGE model," Cardiff Economics Working Papers E2019/18, Cardiff University, Cardiff Business School, Economics Section.
• Gilles Mourre & Aurélien Poissonnier & Martin Lausegger, 2019. "The Semi-Elasticities Underlying the Cyclically-Adjusted Budget Balance: An Update and Further Analysis," European Economy - Discussion Papers 098, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
• Guillaume Cléaud & Francisco de Castro Fernández & Jorge Durán Laguna & Lucia Granelli & Martin Hallet & Anne Jaubertie & Carlos Maravall Rodriguez & Diana Ognyanova & Balazs Palvolgyi & Tsvetan Tsali, 2019. "Cruising at Different Speeds: Similarities and Divergences between the German and the French Economies," European Economy - Discussion Papers 103, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
• Ghosh, Saurabh & Gopalakrishnan, Pawan & Satija, Sakshi, 2019. "Recapitalization in an Economy with State-Owned Banks - A DSGE Framework," MPRA Paper 96981, University Library of Munich, Germany.
• Andrea De Polis & Mario Pietrunti, 2019. "Exchange rate dynamics and unconventional monetary policies: it�s all in the shadows," Temi di discussione (Economic working papers) 1231, Bank of Italy, Economic Research and International Relations Area.
• Tobias Adrian & Nina Boyarchenko & Domenico Giannone, 2019. "Multimodality in Macro-Financial Dynamics," Staff Reports 903, Federal Reserve Bank of New York.
• Gee Hee Hong & Rahul Anand & Yaroslav Hul, 2019. "Achieving the Bank of Japan’s Inflation Target," IMF Working Papers 19/229, International Monetary Fund.
• Mark Bils & Yongsung Chang & Sun-Bin Kim, 2019. "How Sticky Wages In Existing Jobs Can Affect Hiring," Working Paper Series no118, Institute of Economic Research, Seoul National University.
• Israel, Karl-Friedrich & Latsos, Sophia, 2019. "The impact of (un)conventional expansionary monetary policy on income inequality - Lessons from Japan," Working Papers 163, University of Leipzig, Faculty of Economics and Management Science.
• Miguel Ampudia & Skander J. van den Heuvel, 2019. "Monetary Policy and Bank Equity Values in a Time of Low and Negative Interest Rates," Finance and Economics Discussion Series 2019-064, Board of Governors of the Federal Reserve System (U.S.).
• Yuji Horioka, Charles & Niimi, Yoko, 2019. "Household Debt and Aging in Japan," AGI Working Paper Series 2019-12, Asian Growth Research Institute.
• International Monetary Fund, 2019. "Jamaica; Sixth Review Under the Stand-By Arrangements-Press Release; Staff Report; and Statement by the Executive Direct for Jamaica," IMF Staff Country Reports 19/338, International Monetary Fund.
• Paul Gaggl & Rowena Gray & Ioana Marinescu & Miguel Morin, 2019. "Does Electricity Drive Structural Transformation? Evidence from the United States," CESifo Working Paper Series 7930, CESifo.
• Tyler Pike & Horacio Sapriza & Tom Zimmermann, 2019. "Bottom-up Leading Macroeconomic Indicators: An Application to Non-Financial Corporate Defaults using Machine Learning," Finance and Economics Discussion Series 2019-070, Board of Governors of the Federal Reserve System (U.S.).
• David Reifschneider & David Wilcox, 2019. "Average Inflation Targeting Would Be a Weak Tool for the Fed to Deal with Recession and Chronic Low Inflation," Policy Briefs PB19-16, Peterson Institute for International Economics.
• International Monetary Fund, 2019. "Greece; 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Greece," IMF Staff Country Reports 19/340, International Monetary Fund.
• Jeonghun Choi, "undated". "Estimation and Evaluation of Monetary Policy in Korea Before and After the Global Financial Crisis," Working Paper Series no94, Institute of Economic Research, Seoul National University.
• Bert Loudis & Ben Ranish, 2019. "CECL and the Credit Cycle," Finance and Economics Discussion Series 2019-061, Board of Governors of the Federal Reserve System (U.S.).
• Melo-Velandia, Luis Fernando & Parra-Amado, Daniel & Abril-Salcedo, Davinson Stev, 2019. "Nonlinear relationship between the weather phenomenon El Niño and Colombian food prices," Working papers 23, Red Investigadores de Economía.
• Alice Albonico & Ludovic Calés & Roberta Cardani & Olga Croitorov & Fabio Di Dio & Filippo Ferroni & Massimo Giovannini & Stefan Hohberger & Beatrice Pataracchia & Filippo Pericoli & Philipp Pfeiffer , 2019. "The Global Multi-Country Model (GM): An Estimated DSGE Model for Euro Area Countries," European Economy - Discussion Papers 102, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
• Maximiliano Dvorkin & Alexander Monge-Naranjo, 2019. "Occupation Mobility, Human Capital and the Aggregate Consequences of Task-Biased Innovations," Working Papers 2019-064, Human Capital and Economic Opportunity Working Group.
• Chavleishvili, Sulkhan & Manganelli, Simone, 2019. "Forecasting and stress testing with quantile vector autoregression," Working Paper Series 2330, European Central Bank.
• Jean-Bernard Chatelain & Kirsten Ralf, 2019. "Ramsey Optimal Policy in the New-Keynesian Model with Public Debt," Working Papers halshs-02278781, HAL.
• Ojo, Marianne, 2019. "The future of UK Carbon pricing: Artificial Intelligence and the Emissions Trading System," MPRA Paper 94887, University Library of Munich, Germany.
• Claude Bismut & Ismael Ramajo, 2019. "Nominal and real interest rates in OECD countries," CEE-M Working Papers hal-02355139, CEE-M, Universtiy of Montpellier, CNRS, INRA, Montpellier SupAgro.
• Silvia Albrizio & Sangyup Choi & Davide Furceri & Chansik Yoon, 2019. "International bank lending channel of monetary policy," Working Papers 1938, Banco de España.
• Gábor Márk Pellényi, 2019. "Regional Spillovers in the Hungarian Housing Market: Evidence from a Spatio-Temporal Model," European Economy - Discussion Papers 095, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
• Cassola, Nuno & Kok, Christoffer & Mongelli, Francesco Paolo, 2019. "The ECB after the crisis: existing synergies among monetary policy, macroprudential policies and banking supervision," Occasional Paper Series 237, European Central Bank.
• Mundle, Sudipto & Sikdar, Satadru, 2019. "Subsidies, Merit Goods and the Fiscal Space for Reviving Growth: An Aspect of Public Expenditure in India," Working Papers 19/282, National Institute of Public Finance and Policy.
• Joaquin Garcia-Cabo & Rocio Madera, 2019. "The Self-Employment Option in Rigid Labor Markets: An Empirical Investigation," International Finance Discussion Papers 1264, Board of Governors of the Federal Reserve System (U.S.).
• Jean-Bernard Chatelain & Kirsten Ralf, 2020. "Ramsey Optimal Policy versus Multiple Equilibria with Fiscal and Monetary Interactions," Working Papers halshs-02278791, HAL.
• Mirela Miescu & Haroon Mumtaz, 2019. "Proxy structural vector autoregressions, informational sufficiency and the role of monetary policy," Working Papers 280730188, Lancaster University Management School, Economics Department.
• Carlson, Benny & Jonung, Lars, 2019. ""Too Bad to Be True". Swedish Economists on Keynes's 'The Economic Consequences of the Peace, 1919-1929'," Working Papers 2019:16, Lund University, Department of Economics.
• Martin Bruns, 2019. "Proxy VAR models in a data-rich environment," University of East Anglia School of Economics Working Paper Series 2019-03, School of Economics, University of East Anglia, Norwich, UK..
• Romain Baeriswyl & Kene Boun My & Camille Cornand, 2019. "Double overreaction in beauty-contests with information acquisition: theory and experiment," Working Papers 1932, Groupe d'Analyse et de Théorie Economique Lyon St-Étienne (GATE Lyon St-Étienne), Université de Lyon.
• Bo Hyun Chang & Yongsung Chang & Sun-Bin Kim, 2019. "Equilibrium Redistribution under Ex-ante Heterogeneity and Income-Dependent Voting," Working Paper Series no125, Institute of Economic Research, Seoul National University.
• José De Gregorio, "undated". "Inflation Targets in Latin America," Working Papers wp490, University of Chile, Department of Economics.
• Robert J. Barro & Gordon Y. Liao, 2019. "Tractable Rare Disaster Probability and Options-Pricing," Finance and Economics Discussion Series 2019-073, Board of Governors of the Federal Reserve System (U.S.).
• Haaparanta, Pertti, "undated". "Real and Relative Wage Rigidities," WIDER Working Papers 295602, United Nations University, World Institute for Development Economic Research (UNU-WIDER).
• Olga Bespalova & Marina V Rousset, 2019. "Macrofinancial Linkages and Growth at Risk in the Dominican Republic," IMF Working Papers 19/246, International Monetary Fund.
• Karlye Dilts Stedman, 2019. "Unconventional Monetary Policy, (A)Synchronicity and the Yield Curve," Research Working Paper RWP 19-9, Federal Reserve Bank of Kansas City.
• Pham, Ngoc-Sang & Le Van, Cuong & Bosi, Stefano, 2019. "Real indeterminacy and dynamics of asset price bubbles in general equilibrium," MPRA Paper 96834, University Library of Munich, Germany.
• Scott M. R. Mahadeo & Reinhold Heinlein & Gabriella Deborah Legrenzi, 2019. "Tracing the Genesis of Contagion in the Oil-Finance Nexus," CESifo Working Paper Series 7925, CESifo.
• Xuan Wang, 2019. "When Do Currency Unions Benefit From Default ?," 2019 Papers pwa938, Job Market Papers.
• Serhan Cevik, 2019. "Back to the Future: Fiscal Rules for Regaining Sustainability," IMF Working Papers 19/242, International Monetary Fund.
• Jane Mpapalika & Christopher Malikane, 2019. "The determinants of sovereign risk premium in African countries," 2019 Papers pmp2, Job Market Papers.
• Antanina Garanasvili, 2019. "Global Recession Impact on the Market Value of Intangible Assets," 2019 Papers pga1043, Job Market Papers.
• Richard H. Clarida, 2019. "The Federal Reserve’s Review of Its Monetary Policy Strategy, Tools, and Communication Practices : a speech at “A Hot Economy: Sustainability and Trade-Offs,” a Fed Listens event sponsored by the Fede," Speech 1085, Board of Governors of the Federal Reserve System (U.S.).
• Nicolas End & Marina Marinkov & Fedor Miryugin, 2019. "Instruments of Debtstruction: Public Debt Management and Networks during the Interwar Period," AMSE Working Papers 1933, Aix-Marseille School of Economics, France.
• Camila Figueroa & Jorge Fornero & Pablo García, 2019. "Hindsight vs. Real time measurement of the output gap: Implications for the Phillips curve in the Chilean Case," Working Papers Central Bank of Chile 854, Central Bank of Chile.
• Mike Zabek, 2019. "Local Ties in Spatial Equilibrium," Finance and Economics Discussion Series 2019-080, Board of Governors of the Federal Reserve System (U.S.).
• Yena Park & Yongsung Chang, 2018. "Optimal Taxation with Private Insurance," Working Paper Series no117, Institute of Economic Research, Seoul National University.
• Marglin, Stephen & Bhaduri, Amit, "undated". "Profit Squeeze and Keynesian Theory," WIDER Working Papers 295568, United Nations University, World Institute for Development Economic Research (UNU-WIDER).
• Thomas Hasenzagl & Fillipo Pellegrino & Lucrezia Reichlin & Giovanni Ricco, 2019. "Le casse tête de l'inflation dans la zone euro : c'est la tendance, pas le cycle !," SciencePo Working papers Main hal-03456074, HAL.
• Antoine Mandel & Vipin P Veetil, 2019. "Monetary Dynamics in a Network Economy," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-02354576, HAL.
• Salih, Siddig A. & Branson, William H. & Ebraheem, Yusuf H. Al, "undated". "Oil Driven Macroeconometric Model of Kuwait," WIDER Working Papers 295624, United Nations University, World Institute for Development Economic Research (UNU-WIDER).
• Normann Rion, 2019. "Waiting for the Prince Charming: Fixed-Term Contracts as Stopgaps," PSE Working Papers halshs-02331887, HAL.
• Germán Gutiérrez & Callum Jones & Thomas Philippon, 2019. "Entry Costs and the Macroeconomy," IMF Working Papers 19/233, International Monetary Fund.
• Trust R. Mpofu & Eftychia Nikolaidou, 2019. "Macroeconomic and bank-specific determinants of non-performing loans in sub-Saharan Africa," School of Economics Macroeconomic Discussion Paper Series 2019-02, School of Economics, University of Cape Town.
• Fanelli, Jose Maria & Frenkel, Roberto & Winograd, Carlos, "undated". "Country Study 12," WIDER Working Papers 295378, United Nations University, World Institute for Development Economic Research (UNU-WIDER).
• Martijn Dröes & Hans R.A. Koster, 2019. "A World Divided: Refugee Centers, House Prices, and Household Preferences," Tinbergen Institute Discussion Papers 19-075/VIII, Tinbergen Institute.
• Steven Engels & Monika Sherwood, 2019. "What if We All Worked Gigs in the Cloud? The Economic Relevance of Digital Labour Platforms," European Economy - Discussion Papers 099, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
• Niko Hauzenberger & Michael Pfarrhofer, 2019. "Bayesian state-space modeling for analyzing heterogeneous network effects of US monetary policy," Papers 1911.06206, arXiv.org, revised Sep 2020.
• International Monetary Fund, 2019. "Mexico; 2019 Article IV Consultation-Press Release and Staff Report," IMF Staff Country Reports 19/336, International Monetary Fund.
• Kenichi Ueda & Somnath Sharma, 2019. "Listing Advantages Around the World," NBER Working Papers 26446, National Bureau of Economic Research, Inc.
• Bruno Pellegrino, 2019. "Product Differentiation, Oligopoly, and Resource Allocation," 2019 Papers ppe860, Job Market Papers.
• Thomas McGregor, 2019. "Pricing Sovereign Debt in Resource-Rich Economies," IMF Working Papers 19/240, International Monetary Fund.
• Michelle W. Bowman, 2019. "Opening Remarks : a speech at \"Monetary Policy’s Impact on Workers and Their Communities,\" a Fed Listens event, sponsored by the Federal Reserve Bank of Chicago, Chicago, Illinois, October," Speech 1096, Board of Governors of the Federal Reserve System (U.S.).
• Michael Anderson & Yonatan Ben-Shalom & David Stapleton & Emily Roessel, "undated". "The Impact of the Great Recession on SSDI Awards: A Birth-Cohort Analysis," Mathematica Policy Research Reports 83cb127d5a104e99b753ce01c, Mathematica Policy Research.
• Daniel Roash & Tanya Suhoy, 2019. "Sentiment Indicators Based on a Short Business Tendency Survey," Bank of Israel Working Papers 2019.11, Bank of Israel.
• Jerome H. Powell, 2019. "Challenges for Monetary Policy : a speech at the \"Challenges for Monetary Policy\" symposium, sponsored by the Federal Reserve Bank of Kansas City, Jackson Hole, Wyoming, August 23, 2019," Speech 1082, Board of Governors of the Federal Reserve System (U.S.).
• Yongsung Chang & Sun-Bin Kim & Kyooho Kwon & Richard Rogerson, 2019. "Cross-Sectional and Aggregate Labor Supply," Working Paper Series no119, Institute of Economic Research, Seoul National University.
• Yannick LUNG & Léo MALHERBE & Matthieu MONTALBAN, 2019. "Between territorial and virtual proximities. The digitization process of the French ecosystem of complementary local currencies," Cahiers du GREThA (2007-2019) 2019-14, Groupe de Recherche en Economie Théorique et Appliquée (GREThA).
• Randal K. Quarles, 2019. "Law and Macroeconomics: The Global Evolution of Macroprudential Regulation : a speech at the “Law and Macroeconomics,” a conference at Georgetown University Law Center, Washington, D.C., September 27,," Speech 1087, Board of Governors of the Federal Reserve System (U.S.).
• Anneleen Vandeplas & Anna Thum-Thysen, 2019. "Skills Mismatch and Productivity in the EU," European Economy - Discussion Papers 100, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
• Alessandro Dovis & Rishabh Kirpalani, 2019. "Rules without Commitment: Reputation and Incentives," NBER Working Papers 26451, National Bureau of Economic Research, Inc.
• Stephanie Aaronson & Mary C. Daly & William L. Wascher & David W. Wilcox, 2019. "Okun Revisited: Who Benefits Most from a Strong Economy," Finance and Economics Discussion Series 2019-072, Board of Governors of the Federal Reserve System (U.S.).
• Hüther, Michael & Kolev, Galina V., 2019. "Investitionsfonds für Deutschland: Gesamtwirtschaftliche Effekte," IW policy papers 11/2019, Institut der deutschen Wirtschaft (IW) / German Economic Institute.
• Szilard Benk & Max Gillman, 2019. "Granger Predictability of Oil Prices After the Great Recession," IMF Working Papers 19/237, International Monetary Fund.
• Carlos Ramírez, 2019. "Regulating Financial Networks Under Uncertainty," Finance and Economics Discussion Series 2019-056, Board of Governors of the Federal Reserve System (U.S.).
• Epper, Thomas & Fehr, Ernst & Fehr-Duda, Helga & Thustrup Kreiner, Claus & Dreyer Lassen, David & Leth-Petersen, Søren & Nytoft Rasmussen, Gregers, 2019. "Time Discounting and Wealth Inequality," Economics Working Paper Series 1916, University of St. Gallen, School of Economics and Political Science.
• Aditya Aladangady & Shifrah Aron-Dine & Wendy E. Dunn & Laura Feiveson & Paul Lengermann & Claudia R. Sahm, 2019. "From Transactions Data to Economic Statistics: Constructing Real-time, High-frequency, Geographic Measures of Consumer Spending," Finance and Economics Discussion Series 2019-057, Board of Governors of the Federal Reserve System (U.S.).
• Prasad, Alaka Shree & Mandal, Biswajit, 2019. "Virtual trade between different time zones, educational capital and corrupt informal sector," MPRA Paper 96963, University Library of Munich, Germany.
• Yossi Yakhin, 2019. "Breaking the UIP: A Model-Equivalence Result," Bank of Israel Working Papers 2019.15, Bank of Israel, revised Mar 2020.