Report NEP-MAC-2019-12-02

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:

• Haroon Mumtaz & Angeliki Theophilopoulou, 2019. "Monetary Policy and Wealth Inequality over the Great Recession in the UK An Empirical Analysis," Working Papers 898, Queen Mary University of London, School of Economics and Finance.
• João Tovar Jalles, 2019. "Monetary Aggregates and Macroeconomic Performance: the Portuguese Escudo, 1911-1999," Working Papers REM 2019/0102, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
• Makoto Nakajima & José-Víctor Ríos-Rull, 2019. "Credit, Bankruptcy, and Aggregate Fluctuations," Working Papers 19-48, Federal Reserve Bank of Philadelphia.
• Tarek A. Hassan & Stephan Hollander & Laurence van Lent & Ahmed Tahoun, 2019. "Firm-Level Political Risk: Measurement and Effects," Working Papers Series 96, Institute for New Economic Thinking.
• Francesco Corsello & Stefano Neri & Alex Tagliabracci, 2019. "Anchored or de-anchored? That is the question," Questioni di Economia e Finanza (Occasional Papers) 516, Bank of Italy, Economic Research and International Relations Area.
• Edward Kane, 2018. "Double Whammy: Implicit Subsidies and the Great Financial Crisis," Working Papers Series 81, Institute for New Economic Thinking.
• Antonio M. Conti & Andrea Nobili, 2019. "Wages and prices in the euro area: exploring the nexus," Questioni di Economia e Finanza (Occasional Papers) 518, Bank of Italy, Economic Research and International Relations Area.
• Akosah, Nana & Alagidede, Paul & Schaling, Eric, 2019. "Monetary Policy Transparency in Ghana: Recent Evidence," MPRA Paper 96998, University Library of Munich, Germany.
• Daniele Girardi & Walter Paternesi Meloni & Antonella Stirati, 2018. "Persistent Effects of Autonomous Demand Expansions," Working Papers Series 70, Institute for New Economic Thinking.
• Tomiyuki Kitamura & Masaki Tanaka, 2019. "Firms' Inflation Expectations under Rational Inattention and Sticky Information: An Analysis with a Small-Scale Macroeconomic Model," Bank of Japan Working Paper Series 19-E-16, Bank of Japan.
• Claudia Fontanari, & Antonella Palumbo & Chiara Salvatori, 2019. "Potential Output in Theory and Practice: A Revision and Update of Okun`s Original Method," Working Papers Series 93, Institute for New Economic Thinking.
• Enrico S. Levrero, 2019. "Estimates of the Natural Rate of Interest and the Stance of Monetary Policies: A Critical Assessment," Working Papers Series 88, Institute for New Economic Thinking.
• Servaas Storm, 2019. "Lost in deflation: Why Italy`s woes are a warning to the whole Eurozone," Working Papers Series 94, Institute for New Economic Thinking.
• Johannes Bubeck & Angela Maddaloni & José-Luis Peydró, 2019. "Negative Monetary Policy Rates and Systemic Banks’ Risk-Taking: Evidence from the Euro Area Securities Register," Working Papers 1128, Barcelona School of Economics.
• Stefano Neri & Tiziano Ropele, 2019. "Disinflationary shocks and inflation target uncertainty," Temi di discussione (Economic working papers) 1230, Bank of Italy, Economic Research and International Relations Area.
• Şen, Hüseyin & Kaya, Ayşe, 2019. "Output-volatility reducing effect of automatic stabilizers: Evidence from nine EMU member states," EconStor Preprints 206687, ZBW - Leibniz Information Centre for Economics.
• Ernesto Pasten & Raphael Schoenle & Michael Weber, 2019. "The Propagation of Monetary Policy Shocks in a Heterogeneous Production Economy," Working Papers 19-25R, Federal Reserve Bank of Cleveland, revised 15 Jan 2020.
• Johannes Bubeck & Angela Maddaloni & José-Luis Peydró, 2019. "Negative monetary policy rates and systemic banks’ risk-taking: Evidence from the Euro area securities register," Economics Working Papers 1678, Department of Economics and Business, Universitat Pompeu Fabra, revised Mar 2020.
• Ivan Khotulev & Konstantin Styrin, 2019. "Optimal monetary and macroprudential policies for financial stability in a commodity-exporting economy," Bank of Russia Working Paper Series wps52, Bank of Russia.
• Katsuhiro Oshima, 2019. "Heterogeneous Beliefs, Monetary Policy, and Stock Price Volatility," KIER Working Papers 1013, Kyoto University, Institute of Economic Research.
• Salzmann, Leonard, 2019. "The Impact of Uncertainty and Financial Shocks in Recessions and Booms," EconStor Preprints 206691, ZBW - Leibniz Information Centre for Economics.
• Guerino Ardizzi & Simone Emiliozzi & Juri Marcucci & Libero Monteforte, 2019. "News and consumer card payments," Temi di discussione (Economic working papers) 1233, Bank of Italy, Economic Research and International Relations Area.
• João Tovar Jalles, 2019. "Wagner and the Fading Voracity Effect: Short vs. Long-Run Effects in Developing Countries," Working Papers REM 2019/0101, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
• Paul, Saumik, 2019. "A Skeptical Note on the Role of Constant Elasticity of Substitution in Labor Income Share Dynamics," ADBI Working Papers 944, Asian Development Bank Institute.
• Christian Breuer, 2019. "State Expansionary Austerity and Reverse Causality: A Critique of the Conventional Approach," Working Papers Series 98, Institute for New Economic Thinking.
• Christopher Ball & Andreas Freytag & Miriam Kautz, 2019. "Populism - What next? A first look at populist walking-stick economies," Jena Economics Research Papers 2019-009, Friedrich-Schiller-University Jena.
• Farshid Abdi & Botao Wu, 2018. "Informed Corporate Credit Market Before Monetary Policy Surprises: Explaining Pre-FOMC Stock Market Movements," Working Papers on Finance 1828, University of St. Gallen, School of Finance.
• Hintermaier, Thomas & Koeniger, Winfried, 2019. "Differences in Euro-Area Household Finances and their Relevance for Monetary-Policy Transmission," IZA Discussion Papers 12743, Institute of Labor Economics (IZA).
• Charles Yuji Horioka & Yoko Niimi, 2019. "Household Debt and Aging in Japan," Discussion Paper Series DP2019-23, Research Institute for Economics & Business Administration, Kobe University.
• Katsuhiro Oshima, 2019. "Subjective Beliefs, Monetary Policy, and Stock Price Volatility," KIER Working Papers 1012, Kyoto University, Institute of Economic Research.
• Shayan Zakipour-Saber, 2019. "Monetary policy regimes and inflation persistence in the United Kingdom," Working Papers 895, Queen Mary University of London, School of Economics and Finance.
• Georgescu, George, 2018. "Romania's foreign debt crisis in the 1980s. Determinants and consequences," Working Papers of National Institute for Economic Research 181010, Institutul National de Cercetari Economice (INCE).
• Lance Taylor & Ozlem Omer, 2018. "Race to the Bottom: Low Productivity, Market Power, and Lagging Wages," Working Papers Series 80, Institute for New Economic Thinking.
• Angela Capolongo & Claudia Pacella, 2019. "Forecasting inflation in the euro area: countries matter!," Temi di discussione (Economic working papers) 1224, Bank of Italy, Economic Research and International Relations Area.
• David Elliott & Ralf R. Meisenzahl & José-Luis Peydró & Bryce C. Turner, 2019. "Nonbanks, Banks, and Monetary Policy: U.S. Loan-Level Evidence since the 1990s," Working Papers 1129, Barcelona School of Economics.
• Roberta Cardani & Alessia Paccagnini & Stefania Villa, 2019. "Forecasting with instabilities: an application to DSGE models with financial frictions," Temi di discussione (Economic working papers) 1234, Bank of Italy, Economic Research and International Relations Area.
• Viral V. Acharya & Guillaume Plantin, 2019. "Monetary Easing, Leveraged Payouts and Lack of Investment," NBER Working Papers 26471, National Bureau of Economic Research, Inc.
• Haruhiko Inatsugu & Tomiyuki Kitamura & Taichi Matsuda, 2019. "The Formation of Firms' Inflation Expectations: A Survey Data Analysis," Bank of Japan Working Paper Series 19-E-15, Bank of Japan.
• Corinna Ghirelli & Javier J. Pérez & Alberto Urtasun, 2019. "A new economic policy uncertainty index for Spain," Working Papers 1906, Banco de España.
• Mauersberger, Felix & Nagel, Rosemarie & Bühren, Christoph, 2019. "Bounded rationality in Keynesian beauty contests: A lesson for central bankers?," Economics Discussion Papers 2019-53, Kiel Institute for the World Economy (IfW Kiel).
• Francesco Spadafora, 2019. "European integration in the time of mistrust," Questioni di Economia e Finanza (Occasional Papers) 512, Bank of Italy, Economic Research and International Relations Area.
• Hernando Matallana, 2019. "Monetary Circuit, Capitalist Reproduction and Financial Accounting," Documentos de Trabajo, Escuela de Economía 17616, Universidad Nacional de Colombia, FCE, CID.
• Etienne Vaccaro-Grange, 2019. "Quantitative Easing and the Term Premium as a Monetary Policy Instrument," Working Papers halshs-02359503, HAL.
• O D Delaney, Marianne, 2019. "Parliamentary sovereignty and democratic accountability: matters of prerogative powers and legal reasoning," MPRA Paper 96233, University Library of Munich, Germany.
• Emin M. Dinlersoz & Henry Hyatt & Ṣebnem Kalemli-Özcan & Veronika Penciakova, 2019. "Leverage over the Firm Life Cycle, Firm Growth, and Aggregate Fluctuations," FRB Atlanta Working Paper 2019-18, Federal Reserve Bank of Atlanta.
• Haruna, Issahaku, 2019. "Harnessing international remittances for financial development: The role of monetary policy," MPRA Paper 97004, University Library of Munich, Germany, revised 30 Jul 2019.
• Gani Ramadani & Predrag Pandiloski, 2019. "Disinflationary Spillovers from the Euro Area into the Countries of Southeastern Europe," Working Papers 2019-02, National Bank of the Republic of North Macedonia.
• Alexander Bechtel & Angelo Ranaldo & Jan Wrampelmeyer, 2019. "Liquidity Risk and Funding Cost," Working Papers on Finance 1903, University of St. Gallen, School of Finance, revised Aug 2020.
• Laurynas Narusevicius & Tomas Ramanauskas & Laura Gudauskaitė & Tomas Reichenbachas, 2019. "Lithuanian house price index: modelling and forecasting," Bank of Lithuania Occasional Paper Series 28, Bank of Lithuania.
• Fabio Busetti & Michele Caivano & Davide Delle Monache, 2019. "Domestic and global determinants of inflation: evidence from expectile regression," Temi di discussione (Economic working papers) 1225, Bank of Italy, Economic Research and International Relations Area.
• Taghizadeh-Hesary, Farhad & Yoshino, Naoyuki & Chiu, Alvin, 2019. "Internal and External Determinants of Housing Price Booms in Hong Kong, China," ADBI Working Papers 948, Asian Development Bank Institute.
• Benedikt Ballensiefen & Angelo Ranaldo, 2019. "Safe Asset Carry Trade," Working Papers on Finance 1909, University of St. Gallen, School of Finance, revised Oct 2019.
• Mehmet Balcilar & Edmond Berisha & Oguzhan Cepni & Rangan Gupta, 2019. "The Predictive Power of the Term Spread on Inequality in the United Kingdom: An Empirical Analysis," Working Papers 201981, University of Pretoria, Department of Economics.
• Eizo Kawai, 2019. "Toward Rebuilding of Modern Macroeconomic Theory: Market Failure in a Macro Economy and Keynes's Unemployment Equilibrium," Working Papers e138, Tokyo Center for Economic Research.
• Nyoni, Thabani, 2019. "An ARIMA analysis of the Indian Rupee/USD exchange rate in India," MPRA Paper 96908, University Library of Munich, Germany.
• Emily Liu & Friederike Niepmann & Tim Schmidt-Eisenlohr, 2019. "The Effect of U.S. Stress Tests on Monetary Policy Spillovers to Emerging Markets," International Finance Discussion Papers 1265, Board of Governors of the Federal Reserve System (U.S.).
• Fabio Busetti & Cristina Giorgiantonio & Giorgio Ivaldi & Sauro Mocetti & Alessandro Notarpietro & Pietro Tommasino, 2019. "Capital and public investment in Italy: macroeconomic effects, measurement and regulatory weaknesses," Questioni di Economia e Finanza (Occasional Papers) 520, Bank of Italy, Economic Research and International Relations Area.
• Roberta Fiori & Claudia Pacella, 2019. "Should the CCYB be enhanced with a sectoral dimension? The case of Italy," Questioni di Economia e Finanza (Occasional Papers) 499, Bank of Italy, Economic Research and International Relations Area.
• Paul Hubert & Fabien Labondance, 2019. "Central bank tone and the dispersion of views within monetary policy committees," Working Papers 2019-08, CRESE.
• Mandal, Biswajit & Prasad, Alaka Shree, 2018. "A simple model of time zone differences, virtual trade and informality," MPRA Paper 96953, University Library of Munich, Germany.
• Massimiliano Affinito, 2019. "What do almost 20 years of micro data and two crises say about the relationship between central bank and interbank market liquidity? Evidence from Italy," Temi di discussione (Economic working papers) 1238, Bank of Italy, Economic Research and International Relations Area.
• Xiaohong Chen & Paul Wohlfarth, 2019. "Drivers of bank loan growth in China: government or market?," BCAM Working Papers 1909, Birkbeck Centre for Applied Macroeconomics.
• Clostermann, Jörg & Seitz, Franz, 2019. "Immobilienkredite in Deutschland und der Schweiz: Die Rolle von Zinsen und Zinsbindung," Weidener Diskussionspapiere 71, University of Applied Sciences Amberg-Weiden (OTH).
• Luca Metelli & Filippo Natoli, 2019. "The international transmission of US tax shocks: a proxy-SVAR approach," Temi di discussione (Economic working papers) 1223, Bank of Italy, Economic Research and International Relations Area.
• Silvia Magri & Valentina Michelangeli & Sabrina Pastorelli & Raffaella Pico, 2019. "The expansion of consumer credit in Italy and in the Euro Area: what are the drivers and the risks?," Questioni di Economia e Finanza (Occasional Papers) 500, Bank of Italy, Economic Research and International Relations Area.
• Chunzan Wu & Dirk Krueger, 2019. "Consumption Insurance Against Wage Risk: Family Labor Supply and Optimal Progressive Income Taxation," NBER Working Papers 26466, National Bureau of Economic Research, Inc.
• Andrew Binning & Hilde C. Bjørnland & Junior Maih, 2019. "Is Monetary Policy Always Effective? Incomplete Interest Rate Pass-through in a DSGE Model," Working Papers No 09/2019, Centre for Applied Macro- and Petroleum economics (CAMP), BI Norwegian Business School.
• Mirela S. Miescu & Haroon Mumtaz, 2019. "Proxy structural vector autoregressions, informational sufficiency and the role of monetary policy," Working Papers 894, Queen Mary University of London, School of Economics and Finance.
• Eo, Yunjong & Lie, Denny, 2019. "Average Inflation Targeting and Interest-Rate Smoothing," Working Papers 2019-15, University of Sydney, School of Economics.
• Shayan Zakipour-Saber, 2019. "Markov-Switching Proxy BVARs," Working Papers 896, Queen Mary University of London, School of Economics and Finance.
• Jean-Bernard Chatelain & Kirsten Ralf, 2019. "Policy Maker's Credibility with Predetermined Instruments for Forward-Looking Targets," PSE Working Papers halshs-02371913, HAL.
• Juan Carlos Cuestas, 2019. "Co-movement between residential and commercial housing prices: Evidence from a new database," Working Papers 2019/11, Economics Department, Universitat Jaume I, Castellón (Spain).
• Martin Bruns, 2019. "Proxy VAR Models in a Data-Rich Environment," Discussion Papers of DIW Berlin 1831, DIW Berlin, German Institute for Economic Research.
• Juan Mauricio Ramírez & Fedesarrollo, 2019. "La industria del cannabis medicinal en Colombia," Informes de Investigación 17608, Fedesarrollo.
• KOBAYASHI Keiichiro, 2019. "Why has Deflation Continued under Extraordinary Monetary Expansion?," Policy Discussion Papers 19028, Research Institute of Economy, Trade and Industry (RIETI).
• George Alogoskoufis, 2019. "Greece and the Euro: A Mundellian Tragedy," GreeSE – Hellenic Observatory Papers on Greece and Southeast Europe 136, Hellenic Observatory, LSE.
• Piergiorgio Alessandri & Leonardo Del Vecchio & Arianna Miglietta, 2019. "Financial Conditions and 'Growth at Risk' in Italy," Temi di discussione (Economic working papers) 1242, Bank of Italy, Economic Research and International Relations Area.
• Franecsca Carta, 2019. "Timely indicators for labour income inequality," Questioni di Economia e Finanza (Occasional Papers) 503, Bank of Italy, Economic Research and International Relations Area.
• Massimo Gallo & Sonia Soncin & Andrea Venturini, 2019. "Ven-ICE: a new indicator for the economy of the Veneto region," Questioni di Economia e Finanza (Occasional Papers) 498, Bank of Italy, Economic Research and International Relations Area.
• Nadia Garbellini, 2018. "Inequality in the 21st Century:A Critical Analysis of Piketty`s Work," Working Papers Series 69, Institute for New Economic Thinking.
• Michalis Nikiforos, 2019. "On the "Utilization Controversy": A Rejoinder and Some Comments," Economics Working Paper Archive wp_940, Levy Economics Institute.
• Toffolutti, Veronica & Suhrcke, Marc, 2019. "Does austerity really kill?," SocArXiv b2t4x, Center for Open Science.
• Zens, Gregor & Böck, Maximilian & Zörner, Thomas O., 2019. "Of clerks & cleaners: the heterogeneous impact of monetary policy on the US labor market," Department of Economics Working Paper Series 297, WU Vienna University of Economics and Business.
• Anette Borge & Gunnar Bårdsen & Junior Maih, 2019. "Expectations switching in a DSGE model for the UK," Working Paper Series 18119, Department of Economics, Norwegian University of Science and Technology.
• Guner, Nezih & Kaya, Ezgi & Sánchez-Marcos, Virginia, 2019. "Labor Market Frictions and Lowest Low Fertility," IZA Discussion Papers 12771, Institute of Labor Economics (IZA).
• Ryan, John, 2018. "The European Central Bank, Italy and the next Eurozone crisis," LSE Research Online Documents on Economics 91314, London School of Economics and Political Science, LSE Library.
• Ralph G. Lattimore, 2019. "New Zealand as a Niche Player in World Markets," Working Papers in Economics 19/14, University of Waikato.
• João Tovar Jalles, 2019. "Polluting Emissions and GDP: Decoupling Evidence from Brazilian States," Working Papers REM 2019/0104, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
• Amat Adarov & Robert Stehrer, 2019. "Implications of Foreign Direct Investment, Capital Formation and its Structure for Global Value Chains," wiiw Working Papers 170, The Vienna Institute for International Economic Studies, wiiw.
• Andi & ProBogotá & Fedesarrollo, 2019. "41 Decisiones inaplazables para Bogotá. La ruta para llevarlas a cabo," Informes de Investigación 17609, Fedesarrollo.