Research classified by Journal of Economic Literature (JEL) codes
Top JEL
/ E: Macroeconomics and Monetary Economics
/ / E3: Prices, Business Fluctuations, and Cycles
/ / / E32: Business Fluctuations; Cycles
This JEL code is mentioned in the following RePEc Biblio entries:
- Estimated DSGE Models
- Dynamic Factor Models
- Real Business Cycle Theory
- Labor in RBC models
- International RBC
2021
- Mario Izquierdo, 2021, "Encuesta a las empresas españolas sobre la evolución de su actividad: noviembre de 2021," Boletín Económico, Banco de España, issue 4/2021.
- Alejandro Fernández Cerezo, 2021, "The economic performance of Spanish provinces during 2020 and its determinants," Economic Bulletin, Banco de España, issue 1/2021.
- Luis J. Álvarez & M.ª Dolores Gadea & Ana Gómez Loscos, 2021, "La evolución cíclica de la economía española en el contexto europeo," Occasional Papers, Banco de España, number 2103, Jan.
- Luis J. Álvarez & M.ª Dolores Gadea & Ana Gómez Loscos, 2021, "Cyclical patterns of the Spanish economy in Europe," Occasional Papers, Banco de España, number 2103, Jan.
- Eduardo Bandrés & María-Dolores Gadea & Ana Gómez-Loscos, 2021, "Datado y sincronía del ciclo regional en España," Occasional Papers, Banco de España, number 2107, Feb.
- Eduardo Bandrés & María-Dolores Gadea & Ana Gómez-Loscos, 2021, "Dating and synchronisation of regional business cycles in Spain," Occasional Papers, Banco de España, number 2107, Feb.
- Pablo Burriel & Víctor González-Díez & Jorge Martínez-Pagés & Enrique Moral-Benito, 2021, "Real-time analysis of the revisions to the structural position of public finances," Occasional Papers, Banco de España, number 2108, Mar.
- Corinna Ghirelli & María Gil & Samuel Hurtado & Alberto Urtasun, 2021, "Relación entre las medidas de contención de la pandemia, la movilidad y la actividad económica," Occasional Papers, Banco de España, number 2109, Mar.
- Corinna Ghirelli & María Gil & Samuel Hurtado & Alberto Urtasun, 2021, "The relationship between pandemic containment measures, mobility and economic activity," Occasional Papers, Banco de España, number 2109, Mar.
- Ángel Luis Gómez & Ana del Río, 2021, "El impacto desigual de la crisis sanitaria sobre las economías del área del euro en 2020," Occasional Papers, Banco de España, number 2115, Jun.
- Ángel Luis Gómez & Ana del Río, 2021, "The uneven impact of the health crisis on the euro area economies in 2020," Occasional Papers, Banco de España, number 2115, Jun.
- Jorge E. Galán, 2021, "CREWS: a CAMELS-based early warning system of systemic risk in the banking sector," Occasional Papers, Banco de España, number 2132, Nov.
- Nezih Guner & Yuliya A. Kulikova & Arnau Valladares-Esteban, 2021, "Does the added worker effect matter?," Working Papers, Banco de España, number 2113, Mar.
- Christiane Baumeister & Danilo Leiva-León & Eric Sims, 2021, "Tracking weekly state-level economic conditions," Working Papers, Banco de España, number 2134, Aug.
- Máximo Camacho & María Dolores Gadea & Ana Gómez Loscos, 2021, "An automatic algorithm to date the reference cycle of the Spanish economy," Working Papers, Banco de España, number 2139, Nov.
- Francesco D'Amuri & Marta De Philippis & Elisa Guglielminetti & Salvatore Lo Bello, 2021, "Natural unemployment and activity rates: flow-based determinants and implications for price dynamics," Questioni di Economia e Finanza (Occasional Papers), Bank of Italy, Economic Research and International Relations Area, number 599, Feb.
- Valentina Aprigliano & Guerino Ardizzi & Alessia Cassetta & Alessandro Cavallero & Simone Emiliozzi & Alessandro Gambini & Nazzareno Renzi & Roberta Zizza, 2021, "Exploiting payments to track Italian economic activity: the experience at Banca d’Italia," Questioni di Economia e Finanza (Occasional Papers), Bank of Italy, Economic Research and International Relations Area, number 609, Mar.
- Sara Cecchetti & Davide Fantino & Alessandro Notarpietro & Marianna Riggi & Alex Tagliabracci & Andrea Tiseno & Roberta Zizza, 2021, "Inflation expectations in the euro area: indicators, analyses and models used at Banca d’Italia," Questioni di Economia e Finanza (Occasional Papers), Bank of Italy, Economic Research and International Relations Area, number 612, Mar.
- Marco Bottone & Cristina Conflitti & Marianna Riggi & Alex Tagliabracci, 2021, "Firms' inflation expectations and pricing strategies during Covid-19," Questioni di Economia e Finanza (Occasional Papers), Bank of Italy, Economic Research and International Relations Area, number 619, Jun.
- Giuseppe Fiori & Filippo Scoccianti, 2021, "Aggregate dynamics and microeconomic heterogeneity: the role of vintage technology," Questioni di Economia e Finanza (Occasional Papers), Bank of Italy, Economic Research and International Relations Area, number 651, Nov.
- Martina Cecioni & Adriana Grasso & Alessandro Notarpietro & Massimiliano Pisani, 2021, "Revisiting monetary policy objectives and strategies: international experience and challenges from the ELB," Questioni di Economia e Finanza (Occasional Papers), Bank of Italy, Economic Research and International Relations Area, number 660, Dec.
- Andrea Gerali & Elisa Guglielminetti & Danilo Liberati, 2021, "(In)efficient Separations, Firing Costs and Temporary Contracts," Temi di discussione (Economic working papers), Bank of Italy, Economic Research and International Relations Area, number 1330, Apr.
- Claudia Pacella, 2021, "Dating the euro area business cycle: an evaluation," Temi di discussione (Economic working papers), Bank of Italy, Economic Research and International Relations Area, number 1332, Apr.
- Adriana Grasso & Guido Traficante, 2021, "Optimal robust monetary policy with parameters and output gap uncertainty," Temi di discussione (Economic working papers), Bank of Italy, Economic Research and International Relations Area, number 1339, Jun.
- Alessandro Mistretta, 2021, "Business cycle synchronization or business cycle transmission? The effect of the German slowdown on the Italian economy," Temi di discussione (Economic working papers), Bank of Italy, Economic Research and International Relations Area, number 1346, Oct.
- De la Peña Rogelio, 2021, "Should monetary policy lean against the wind in a small-open economy? Revisiting the Tinbergen rule," Working Papers, Banco de México, number 2021-01, Apr.
- Ibarra-Ramírez Raúl, 2021, "The Yield Curve as a Predictor of Economic Activity in Mexico: The Role of the Term Premium," Working Papers, Banco de México, number 2021-07, Jun.
- Carabarín Aguirre Mauricio & Peláez Gómez Carlos D., 2021, "Financial Frictions in Mexico: Evidence from the Credit Spread and its Components," Working Papers, Banco de México, number 2021-20, Dec.
- Leyva Gustavo & Urrutia Carlos, 2021, "Informal Labor Markets in Times of Pandemic: Evidence for Latin America and Policy Options," Working Papers, Banco de México, number 2021-21, Dec.
- Juan C. Méndez-Vizcaíno & Nicolás Moreno-Arias, 2021, "A Global Shock with Idiosyncratic Pains: State-Dependent Debt Limits for LATAM during the COVID-19 pandemic," Borradores de Economia, Banco de la Republica de Colombia, number 1175, Oct, DOI: 10.32468/be.1175.
- Marcela De Castro-Valderrama & Santiago Forero-Alvarado & Nicolás Moreno-Arias & Sara Naranjo-Saldarriaga, 2021, "Unraveling the Exogenous Forces Behind Analysts’ Macroeconomic Forecasts," Borradores de Economia, Banco de la Republica de Colombia, number 1184, Dec, DOI: 10.32468/be.1184.
- Antonio José Orozco-Gallo & Pavel Vidal-Alejandro & Johana Sanabria-Domínguez & Jaime Andrés Collazos-Rodríguez, 2021, "Indicador coincidente de actividad económica en la recesión pandémica: el caso del Caribe colombiano," Documentos de trabajo sobre Economía Regional y Urbana, Banco de la Republica de Colombia, number 298, Jun, DOI: https://doi.org/10.32468/dtseru.298.
- Yasser Boualam & Clément Mazet-Sonilhac, 2021, "Aggregate Implications of Credit Relationship Flows: a Tale of Two Margin," Working papers, Banque de France, number 801.
- Stéphane Lhuissier & Benoit Nguyen, 2021, "The Dynamic Effects of the ECB s Asset Purchases: a Survey-Based Identification," Working papers, Banque de France, number 806.
- Daniele Siena & Riccardo Zago, 2021, "Job Polarization and the Flattening of the Price Phillips Curve," Working papers, Banque de France, number 819.
- Mathilde Gerardin & Martial Ranvier, 2021, "Enrichment of the Banque de France s monthly business survey: lessons from textual analysis of business leaders comments," Working papers, Banque de France, number 821.
- Grégory Levieuge & Jean-Guillaume Sahuc, 2021, "Downward Interest Rate Rigidity," Working papers, Banque de France, number 828.
- Benjamin Bureau & Anne Duquerroy & Frédéric Vinas, 2021, "Activity shocks and corporate liquidity: the role of trade credit," Working papers, Banque de France, number 851.
- Chistoph Grosse-Steffen & Laura Pagenhardt & Malte Rieth, 2021, "Committed to Flexible Fiscal Rules," Working papers, Banque de France, number 854.
- Francesca Vinci & Omar Licandro, 2021, "Switching-track after the Great Recession," Working Papers, Barcelona School of Economics, number 1260, May.
- Alejandro Van der Ghote & Luc Laeven & Victoria Vanasco & Alberto Martin & Vladimir Asriyan, 2021, "Falling Interest Rates and Credit Misallocation: Lessons from General Equilibrium," Working Papers, Barcelona School of Economics, number 1268, Jul.
- Geert Mesters & Régis Barnichon, 2021, "Reconciling Fiscal Ceilings with Macro Stabilization," Working Papers, Barcelona School of Economics, number 1277, Jul.
- Jordi Galí & Davide Debortoli, 2021, "Idiosyncratic Income Risk and Aggregate Fluctuations," Working Papers, Barcelona School of Economics, number 1281, Sep.
- Martin Wolf & Luca Fornaro, 2021, "Monetary Policy in the Age of Automation," Working Papers, Barcelona School of Economics, number 1290, Sep.
- Cristina Manea & Frederic Boissay & Fabrice Collard & Jordi Galí, 2021, "Monetary Policy and Endogenous Financial Crises," Working Papers, Barcelona School of Economics, number 1308, Dec.
- Federico Di Pace & Christoph Gortz, 2021, "Monetary Policy, Sectoral Comovement and the Credit Channel," Discussion Papers, Department of Economics, University of Birmingham, number 21-07, Apr.
- Melisso Boschi & Stefano d'Addona & Aditya Goenka, 2021, "Testing external habits in an asset pricing model," Discussion Papers, Department of Economics, University of Birmingham, number 21-11, Jun.
- Emanuel Kohlscheen & Marco Jacopo Lombardi & Egon Zakrajšek, 2021, "Income inequality and the depth of economic downturns," BIS Working Papers, Bank for International Settlements, number 943, May.
- Shesadri Banerjee & M S Mohanty, 2021, "US monetary policy and the financial channel of the exchange rate: evidence from India," BIS Working Papers, Bank for International Settlements, number 945, May.
- Daniel Rees & Guofeng Sun, 2021, "The natural interest rate in China," BIS Working Papers, Bank for International Settlements, number 949, Jun.
- Haykaz Igityan, 2021, "Asymmetric Effects of Monetary Policy on the Armenian Economy," Russian Journal of Money and Finance, Bank of Russia, volume 80, issue 1, pages 46-103, March, DOI: 10.31477/rjmf.202101.46.
- Alyona Nelyubina, 2021, "Forecasting Regional Indicators Based on the Quarterly Projection Model," Russian Journal of Money and Finance, Bank of Russia, volume 80, issue 2, pages 50-75, June, DOI: 10.31477/rjmf.202102.50.
- Mikhail Andreyev & Andrey Polbin, 2021, "Optimal simple monetary policy rules for a resource-rich economy and the Zero Lower Bound," Bank of Russia Working Paper Series, Bank of Russia, number wps81, Oct.
- Mariia Kudaeva & Ivan Redozubov, 2021, "Impact of migration flows on the economic activity and labor market of Russia as a whole and regionally," Bank of Russia Working Paper Series, Bank of Russia, number wps86, Dec.
- Zeynep Kantur & Kerim Keskin, 2021, "A new Keynesian model with unemployment: The effect of on‐the‐job search," Bulletin of Economic Research, Wiley Blackwell, volume 73, issue 4, pages 643-659, October, DOI: 10.1111/boer.12269.
- Juin‐Jen Chang & Jang‐Ting Guo & Wei‐Neng Wang, 2021, "On Endogenous Business Cycles Under Increasing Returns To Variety And Sector‐Specific Externality," Economic Inquiry, Western Economic Association International, volume 59, issue 1, pages 532-548, January, DOI: 10.1111/ecin.12910.
- Bill Dupor & Rodrigo Guerrero, 2021, "The Aggregate And Local Economic Effects Of Government Financed Health Care," Economic Inquiry, Western Economic Association International, volume 59, issue 2, pages 662-670, April, DOI: 10.1111/ecin.12951.
- Giovanni Pellegrino, 2021, "Uncertainty and monetary policy in the US: A journey into nonlinear territory," Economic Inquiry, Western Economic Association International, volume 59, issue 3, pages 1106-1128, July, DOI: 10.1111/ecin.12986.
- Stefano Bosi & David Desmarchelier, 2021, "Pollution effects on disease transmission and economic stability," International Journal of Economic Theory, The International Society for Economic Theory, volume 17, issue 2, pages 169-189, June, DOI: 10.1111/ijet.12213.
- Mauro Bambi & Alain Venditti, 2021, "Time‐varying consumption tax, productive government spending, and aggregate instability," International Journal of Economic Theory, The International Society for Economic Theory, volume 17, issue 2, pages 190-215, June, DOI: 10.1111/ijet.12216.
- Laurence Ball & Sandeep Mazumder, 2021, "A Phillips curve for the euro area," International Finance, Wiley Blackwell, volume 24, issue 1, pages 2-17, April, DOI: 10.1111/infi.12381.
- Vahagn Galstyan, 2021, "Expectations, unemployment and inflation: An empirical investigation," International Finance, Wiley Blackwell, volume 24, issue 3, pages 298-312, December, DOI: 10.1111/infi.12396.
- John Y. Campbell & Nuno Clara & João F. Cocco, 2021, "Structuring Mortgages for Macroeconomic Stability," Journal of Finance, American Finance Association, volume 76, issue 5, pages 2525-2576, October, DOI: 10.1111/jofi.13056.
- Valentina Aprigliano & Danilo Liberati, 2021, "Using Credit Variables to Date Business Cycle and to Estimate the Probabilities of Recession in Real Time," Manchester School, University of Manchester, volume 89, issue S1, pages 76-96, September, DOI: 10.1111/manc.12292.
- Danilo Spinola, 2021, "The La Marca model revisited: Structuralist goodwin cycles with evolutionary supply side and balance of payments constraints," Metroeconomica, Wiley Blackwell, volume 72, issue 1, pages 189-212, February, DOI: 10.1111/meca.12316.
- Pintu Parui, 2021, "A simple macro‐model of COVID‐19 with special reference to India," Metroeconomica, Wiley Blackwell, volume 72, issue 4, pages 650-678, November, DOI: 10.1111/meca.12338.
- Filippo Gusella & Engelbert Stockhammer, 2021, "Testing fundamentalist–momentum trader financial cycles: An empirical analysis via the Kalman filter," Metroeconomica, Wiley Blackwell, volume 72, issue 4, pages 758-797, November, DOI: 10.1111/meca.12347.
- Timothy Hills & Taisuke Nakata & Takeki Sunakawa, 2021, "A Promised Value Approach to Optimal Monetary Policy," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, volume 83, issue 1, pages 176-198, February, DOI: 10.1111/obes.12401.
- Daniel A. Dias & Carlos Robalo Marques, 2021, "Every Cloud Has a Silver Lining: Cleansing Effects of the Portuguese Financial Crisis," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, volume 83, issue 2, pages 352-376, April, DOI: 10.1111/obes.12391.
- Alexander Chudik & Janet Koech & Mark Wynne, 2021, "The Heterogeneous Effects of Global and National Business Cycles on Employment in US States and Metropolitan Areas," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, volume 83, issue 2, pages 495-517, April, DOI: 10.1111/obes.12402.
- Pao‐Lin Tien & Tara M. Sinclair & Edward N. Gamber, 2021, "Do Fed Forecast Errors Matter?," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, volume 83, issue 3, pages 686-712, June, DOI: 10.1111/obes.12415.
- Giovanni Pellegrino & Federico Ravenna & Gabriel Züllig, 2021, "The Impact of Pessimistic Expectations on the Effects of COVID‐19‐Induced Uncertainty in the Euro Area," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, volume 83, issue 4, pages 841-869, August, DOI: 10.1111/obes.12431.
- Qazi Haque & Leandro M. Magnusson & Kazuki Tomioka, 2021, "Empirical Evidence on the Dynamics of Investment Under Uncertainty in the U.S," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, volume 83, issue 5, pages 1193-1217, October, DOI: 10.1111/obes.12420.
- Sara Ayllón & Natalia Nollenberger, 2021, "The Unequal Opportunity For Skills Acquisition During The Great Recession In Europe," Review of Income and Wealth, International Association for Research in Income and Wealth, volume 67, issue 2, pages 289-316, June, DOI: 10.1111/roiw.12472.
- Britta Gehrke & Brigitte Hochmuth, 2021, "Counteracting Unemployment in Crises: Non‐Linear Effects of Short‐Time Work Policy," Scandinavian Journal of Economics, Wiley Blackwell, volume 123, issue 1, pages 144-183, January, DOI: 10.1111/sjoe.12395.
- Gabe de Bondt & Philip Vermeulen, 2021, "Business cycle duration dependence and foreign recessions," Scottish Journal of Political Economy, Scottish Economic Society, volume 68, issue 1, pages 1-19, February, DOI: 10.1111/sjpe.12261.
- Don Bredin & Stilianos Fountas & Christos Savva, 2021, "Is British output growth related to its uncertainty? Evidence using eight centuries of data," Scottish Journal of Political Economy, Scottish Economic Society, volume 68, issue 3, pages 345-364, July, DOI: 10.1111/sjpe.12270.
- POPA Cristina Elena, 2021, "The Impact Of The First Year Of Covid-19 Pandemic On Romania'S Economic Growth," Revista Economica, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, volume 73, issue 4, pages 65-75, December.
- Departamento de Investigaciones en Banca Central & Subgerencia de Investigaciones Económicas & Asesoría de Política Económica & Banco Central de Bolivia, 2021, "Modelo de Equilibrio General Dinámico Estocástico para el análisis de la política monetaria del Banco Central de Bolivia," Revista de Análisis del BCB, Banco Central de Bolivia, volume 35, issue 1, pages 129-169, July - De.
- Susanto Basu & Giacomo Candian & Ryan Chahrour & Rosen Valchev, 2021, "Risky Business Cycles," Boston College Working Papers in Economics, Boston College Department of Economics, number 1029, Apr, revised 17 Sep 2024.
- Marc Hinterschweiger & Kunal Khairnar & Tolga Ozden & Tom Stratton, 2021, "Macroprudential policy interactions in a sectoral DSGE model with staggered interest rates," Bank of England Staff Working Paper series, Bank of England, number 904, Jan.
- Yvan Becard & David Gauthier, 2021, "Banks, shadow banks, and business cycles," Bank of England Staff Working Paper series, Bank of England, number 907, Feb.
- Dario Bonciani & David Gauthier & Derrick Kanngiesser, 2021, "Slow recoveries, endogenous growth and macroprudential policy," Bank of England Staff Working Paper series, Bank of England, number 917, Apr.
- Dario Bonciani & Joonseok Oh, 2021, "Unemployment risk, liquidity traps and monetary policy," Bank of England Staff Working Paper series, Bank of England, number 920, May.
- Federico Di Pace & Christoph Görtz, 2021, "Sectoral comovement, monetary policy and the credit channel," Bank of England Staff Working Paper series, Bank of England, number 925, Jun.
- Ambrogio Cesa-Bianchi & Andrea Ferrero, 2021, "The transmission of Keynesian supply shocks," Bank of England Staff Working Paper series, Bank of England, number 934, Aug.
- Bruno Albuquerque, 2021, "Corporate debt booms, financial constraints and the investment nexus," Bank of England Staff Working Paper series, Bank of England, number 935, Aug.
- Hiona Balfoussia & Dimitrios P. Louzis, 2021, "The impact of economic uncertainty and inflation uncertainty on the Greek economy," Economic Bulletin, Bank of Greece, issue 53, pages 49-68, July, DOI: 10.52903/econbull20215303.
- Tryphon Kollintzas & Dimitris Papageorgiou & Vanghelis Vassilatos, 2021, "Implications of market and political power interactions for growth and the business cycle I: private sector equilibrium," Working Papers, Bank of Greece, number 288, Mar.
- Osnat Zohar, 2021, "Cyclicality of Uncertainty and Disagreement," Bank of Israel Working Papers, Bank of Israel, number 2021.09, May.
- Masato Takahashi & Takuji Kondo & Ko Munakata & Tomohiro Okubo & Yuto Iwasaki, 2021, "Revision of the Consumption Activity Index to Capture Recent Changes in Consumption Patterns," Bank of Japan Research Papers, Bank of Japan, number 21-07-07, Jul.
- Michele Costa & Flavio Delbono, 2021, "The Italian Geography of Regional Resilience: The Role of Cooperative Firms," Working Papers, Dipartimento Scienze Economiche, Universita' di Bologna, number wp1166, Oct.
- Gregor Boehl, 2021, "Efficient Solution and Computation of Models With Occasionally Binding Constraints," CRC TR 224 Discussion Paper Series, University of Bonn and University of Mannheim, Germany, number crctr224_2021_253, Jan.
- Gregor Boehl & Philipp Lieberknecht, 2021, "The Hockey Stick Phillips Curve and the Zero Lower Bound," CRC TR 224 Discussion Paper Series, University of Bonn and University of Mannheim, Germany, number crctr224_2021_266, Feb.
- Gregor Boehl & Cars Hommes, 2021, "Rational vs. Irrational Beliefs in a Complex World," CRC TR 224 Discussion Paper Series, University of Bonn and University of Mannheim, Germany, number crctr224_2021_287, Apr.
- Titan Alon & Sena Coskun & Matthias Doepke & David Koll & Michèle Tertilt, 2021, "From Mancession to Shecession: Women’s Employment in Regular and Pandemic Recessions," CRC TR 224 Discussion Paper Series, University of Bonn and University of Mannheim, Germany, number crctr224_2021_301, Jun.
- Moritz Kuhn & Iourii Manovskii & Xincheng Qiu, 2021, "The Geography of Job Creation and Job Destruction," CRC TR 224 Discussion Paper Series, University of Bonn and University of Mannheim, Germany, number crctr224_2021_321, Dec.
- Cho Daeha & Mok Junghwan & Shim Myungkyu, 2021, "Leaning-Against-the-Wind: Which Policy and When?," The B.E. Journal of Macroeconomics, De Gruyter, volume 21, issue 1, pages 125-150, January, DOI: 10.1515/bejm-2019-0142.
- Kolasa Marcin, 2021, "On the Limits of Macroprudential Policy," The B.E. Journal of Macroeconomics, De Gruyter, volume 21, issue 1, pages 281-307, January, DOI: 10.1515/bejm-2018-0189.
- Tillmann Peter, 2021, "Robust Monetary Policy Under Uncertainty About the Lower Bound," The B.E. Journal of Macroeconomics, De Gruyter, volume 21, issue 1, pages 309-321, January, DOI: 10.1515/bejm-2019-0077.
- Bolboaca Maria & Fischer Sarah, 2021, "Unraveling News: Reconciling Conflicting Evidence," The B.E. Journal of Macroeconomics, De Gruyter, volume 21, issue 2, pages 695-743, June, DOI: 10.1515/bejm-2019-0208.
- Luik Marc-Andre & Wesselbaum Dennis, 2021, "Did the FED React to Asset Price Bubbles?," The B.E. Journal of Macroeconomics, De Gruyter, volume 21, issue 2, pages 745-772, June, DOI: 10.1515/bejm-2020-0116.
- Aparicio-Pérez Daniel & Calatayud Carolina & Rochina-Barrachina María E., 2021, "The Export Strategy and SMEs Employment Resilience During Slump Periods," Economics - The Open-Access, Open-Assessment Journal, De Gruyter, volume 15, issue 1, pages 163-186, January, DOI: 10.1515/econ-2021-0011.
- Cusato Novelli, Antonio & Barcia, Giancarlo, 2021, "Sovereign Risk, Public Investment and the Fiscal Policy Stance," Journal of Macroeconomics, Elsevier, volume 67, issue C, DOI: 10.1016/j.jmacro.2020.103263.
- Crawley, Andrew & Welch, Sarah & Yung, Julieta, 2021, "Improving estimates of job matching efficiency with different measures of unemployment," Journal of Macroeconomics, Elsevier, volume 67, issue C, DOI: 10.1016/j.jmacro.2020.103282.
- Breitenlechner, Max & Gründler, Daniel & Scharler, Johann, 2021, "Unconventional monetary policy announcements and information shocks in the U.S," Journal of Macroeconomics, Elsevier, volume 67, issue C, DOI: 10.1016/j.jmacro.2020.103283.
- Jiang, Dou & Weder, Mark, 2021, "American business cycles 1889–1913: An accounting approach," Journal of Macroeconomics, Elsevier, volume 67, issue C, DOI: 10.1016/j.jmacro.2020.103285.
- Ilabaca, Francisco & Milani, Fabio, 2021, "Heterogeneous expectations, indeterminacy, and postwar US business cycles," Journal of Macroeconomics, Elsevier, volume 68, issue C, DOI: 10.1016/j.jmacro.2021.103307.
- Eichengreen, Barry & Park, Donghyun & Shin, Kwanho, 2021, "The shape of recovery: Implications of past experience for the duration of the COVID-19 recession," Journal of Macroeconomics, Elsevier, volume 69, issue C, DOI: 10.1016/j.jmacro.2021.103330.
- Nalban, Valeriu & Smădu, Andra, 2021, "Asymmetric effects of uncertainty shocks: Normal times and financial disruptions are different," Journal of Macroeconomics, Elsevier, volume 69, issue C, DOI: 10.1016/j.jmacro.2021.103331.
- Mazzoli, Marco & Lombardini, Simone, 2021, "Business cycle in an oligopolistic economy with entry and exit," Journal of Macroeconomics, Elsevier, volume 69, issue C, DOI: 10.1016/j.jmacro.2021.103335.
- Rossi, Lorenza & Zanetti Chini, Emilio, 2021, "Temporal disaggregation of business dynamics: New evidence for U.S. economy," Journal of Macroeconomics, Elsevier, volume 69, issue C, DOI: 10.1016/j.jmacro.2021.103337.
- Tayler, William J. & Zilberman, Roy, 2021, "Optimal Loan Loss Provisions and Welfare," Journal of Macroeconomics, Elsevier, volume 69, issue C, DOI: 10.1016/j.jmacro.2021.103338.
- Walerych, Małgorzata & Wesołowski, Grzegorz, 2021, "Fed and ECB monetary policy spillovers to Emerging Market Economies," Journal of Macroeconomics, Elsevier, volume 70, issue C, DOI: 10.1016/j.jmacro.2021.103345.
- Lin, Yi Chun, 2021, "Business cycle fluctuations in Taiwan — A Bayesian DSGE analysis," Journal of Macroeconomics, Elsevier, volume 70, issue C, DOI: 10.1016/j.jmacro.2021.103349.
- Neyer, Ulrike & Stempel, Daniel, 2021, "Gender discrimination, inflation, and the business cycle," Journal of Macroeconomics, Elsevier, volume 70, issue C, DOI: 10.1016/j.jmacro.2021.103352.
- Bianco, Timothy, 2021, "Monetary policy and credit flows," Journal of Macroeconomics, Elsevier, volume 70, issue C, DOI: 10.1016/j.jmacro.2021.103362.
- Filiani, Pasquale, 2021, "Optimal monetary–fiscal policy in the euro area liquidity crisis," Journal of Macroeconomics, Elsevier, volume 70, issue C, DOI: 10.1016/j.jmacro.2021.103364.
- Busetti, Fabio & Neri, Stefano & Notarpietro, Alessandro & Pisani, Massimiliano, 2021, "Monetary policy strategies in the New Normal: A model-based analysis for the euro area," Journal of Macroeconomics, Elsevier, volume 70, issue C, DOI: 10.1016/j.jmacro.2021.103366.
- Maih, Junior & Mazelis, Falk & Motto, Roberto & Ristiniemi, Annukka, 2021, "Asymmetric monetary policy rules for the euro area and the US," Journal of Macroeconomics, Elsevier, volume 70, issue C, DOI: 10.1016/j.jmacro.2021.103376.
- Nonejad, Nima, 2021, "The price of crude oil and (conditional) out-of-sample predictability of world industrial production," Journal of Commodity Markets, Elsevier, volume 23, issue C, DOI: 10.1016/j.jcomm.2021.100167.
- Konopczak, Karolina, 2021, "Modelling labour adjustments over the business cycle using asymmetric cointegration," The Journal of Economic Asymmetries, Elsevier, volume 23, issue C, DOI: 10.1016/j.jeca.2020.e00195.
- Goyal, Ashima & Kumar, Abhishek, 2021, "Asymmetry, terms of trade and the aggregate supply curve in an open economy model," The Journal of Economic Asymmetries, Elsevier, volume 24, issue C, DOI: 10.1016/j.jeca.2021.e00206.
- Mayer, Thomas & Schnabl, Gunther, 2021, "Covid-19 and the euthanasia of interest rates: A critical assessment of central bank policy in our times," Journal of Policy Modeling, Elsevier, volume 43, issue 6, pages 1241-1258, DOI: 10.1016/j.jpolmod.2021.04.004.
- Şen, Hüseyin & Kaya, Ayşe, 2021, "Output-volatility reducing effects of automatic stabilizers: Policy implications for EMU member states," Journal of Policy Modeling, Elsevier, volume 43, issue 6, pages 1388-1414, DOI: 10.1016/j.jpolmod.2020.06.005.
- Barrales-Ruiz, Jose & Mohammed, Mikidadu, 2021, "Financial regimes and oil prices," Resources Policy, Elsevier, volume 74, issue C, DOI: 10.1016/j.resourpol.2021.102299.
- De La Peña, Rogelio, 2021, "Should monetary policy lean against the wind in a small-open economy? Revisiting the Tinbergen rule," Latin American Journal of Central Banking (previously Monetaria), Elsevier, volume 2, issue 1, DOI: 10.1016/j.latcb.2021.100026.
- Modesto, Leonor & Nourry, Carine & Seegmuller, Thomas & Venditti, Alain, 2021, "Growth and instability in a small open economy with debt," Mathematical Social Sciences, Elsevier, volume 112, issue C, pages 26-37, DOI: 10.1016/j.mathsocsci.2021.03.011.
- Rannenberg, Ansgar, 2021, "State-dependent fiscal multipliers with preferences over safe assets," Journal of Monetary Economics, Elsevier, volume 117, issue C, pages 1023-1040, DOI: 10.1016/j.jmoneco.2020.08.002.
- Tian, Can, 2021, "Input-output linkages in Pigouvian industrial fluctuations," Journal of Monetary Economics, Elsevier, volume 117, issue C, pages 1078-1095, DOI: 10.1016/j.jmoneco.2020.09.001.
- Karadi, Peter & Nakov, Anton, 2021, "Effectiveness and addictiveness of quantitative easing," Journal of Monetary Economics, Elsevier, volume 117, issue C, pages 1096-1117, DOI: 10.1016/j.jmoneco.2020.09.002.
- Benhima, Kenza & Poilly, Céline, 2021, "Does demand noise matter? Identification and implications," Journal of Monetary Economics, Elsevier, volume 117, issue C, pages 278-295, DOI: 10.1016/j.jmoneco.2020.01.006.
- Altinoglu, Levent, 2021, "The origins of aggregate fluctuations in a credit network economy," Journal of Monetary Economics, Elsevier, volume 117, issue C, pages 316-334, DOI: 10.1016/j.jmoneco.2020.01.007.
- Petrosky-Nadeau, Nicolas & Zhang, Lu, 2021, "Unemployment crises," Journal of Monetary Economics, Elsevier, volume 117, issue C, pages 335-353, DOI: 10.1016/j.jmoneco.2020.01.009.
- Cui, Wei & Kaas, Leo, 2021, "Default cycles," Journal of Monetary Economics, Elsevier, volume 117, issue C, pages 377-394, DOI: 10.1016/j.jmoneco.2020.02.001.
- Han, Zhao, 2021, "Low-frequency fiscal uncertainty," Journal of Monetary Economics, Elsevier, volume 117, issue C, pages 639-657, DOI: 10.1016/j.jmoneco.2020.03.017.
- Barnichon, Regis & Mesters, Geert, 2021, "The Phillips multiplier," Journal of Monetary Economics, Elsevier, volume 117, issue C, pages 689-705, DOI: 10.1016/j.jmoneco.2020.04.005.
- Bachmann, Rüdiger & Bayer, Christian & Merkl, Christian & Seth, Stefan & Stüber, Heiko & Wellschmied, Felix, 2021, "Worker churn in the cross section and over time: New evidence from Germany," Journal of Monetary Economics, Elsevier, volume 117, issue C, pages 781-797, DOI: 10.1016/j.jmoneco.2020.05.003.
- Andrade, Philippe & Ferroni, Filippo, 2021, "Delphic and odyssean monetary policy shocks: Evidence from the euro area," Journal of Monetary Economics, Elsevier, volume 117, issue C, pages 816-832, DOI: 10.1016/j.jmoneco.2020.06.002.
- Sims, Eric & Wu, Jing Cynthia, 2021, "Evaluating Central Banks’ tool kit: Past, present, and future," Journal of Monetary Economics, Elsevier, volume 118, issue C, pages 135-160, DOI: 10.1016/j.jmoneco.2020.03.018.
- Abdalla, Ahmed M. & Carabias, Jose M. & Patatoukas, Panos N., 2021, "The real-time macro content of corporate financial reports: A dynamic factor model approach," Journal of Monetary Economics, Elsevier, volume 118, issue C, pages 260-280, DOI: 10.1016/j.jmoneco.2021.01.006.
- Schroth, Josef, 2021, "Macroprudential policy with capital buffers," Journal of Monetary Economics, Elsevier, volume 118, issue C, pages 296-311, DOI: 10.1016/j.jmoneco.2020.12.003.
- Harmenberg, Karl & Öberg, Erik, 2021, "Consumption dynamics under time-varying unemployment risk," Journal of Monetary Economics, Elsevier, volume 118, issue C, pages 350-365, DOI: 10.1016/j.jmoneco.2020.10.004.
- Benati, Luca, 2021, "Leaning against house prices: A structural VAR investigation," Journal of Monetary Economics, Elsevier, volume 118, issue C, pages 399-412, DOI: 10.1016/j.jmoneco.2020.12.002.
- Cantore, Cristiano & Freund, Lukas B., 2021, "Workers, capitalists, and the government: fiscal policy and income (re)distribution," Journal of Monetary Economics, Elsevier, volume 119, issue C, pages 58-74, DOI: 10.1016/j.jmoneco.2021.01.004.
- Eggers, Andrew C. & Ellison, Martin & Lee, Sang Seok, 2021, "The economic impact of recession announcements," Journal of Monetary Economics, Elsevier, volume 120, issue C, pages 40-52, DOI: 10.1016/j.jmoneco.2021.03.002.
- Ou, Shengliang & Zhang, Donghai & Zhang, Renbin, 2021, "Information frictions, monetary policy, and the paradox of price flexibility," Journal of Monetary Economics, Elsevier, volume 120, issue C, pages 70-82, DOI: 10.1016/j.jmoneco.2021.03.005.
- Fernández-Villaverde, Jesús & Mandelman, Federico & Yu, Yang & Zanetti, Francesco, 2021, "The “Matthew effect” and market concentration: Search complementarities and monopsony power," Journal of Monetary Economics, Elsevier, volume 121, issue C, pages 62-90, DOI: 10.1016/j.jmoneco.2021.04.005.
- Maliar, Lilia & Maliar, Serguei & Winant, Pablo, 2021, "Deep learning for solving dynamic economic models," Journal of Monetary Economics, Elsevier, volume 122, issue C, pages 76-101, DOI: 10.1016/j.jmoneco.2021.07.004.
- Den Haan, Wouter J. & Freund, Lukas B. & Rendahl, Pontus, 2021, "Volatile hiring: uncertainty in search and matching models," Journal of Monetary Economics, Elsevier, volume 123, issue C, pages 1-18, DOI: 10.1016/j.jmoneco.2021.07.008.
- Bretscher, Lorenzo & Malkhozov, Aytek & Tamoni, Andrea, 2021, "Expectations and aggregate risk," Journal of Monetary Economics, Elsevier, volume 123, issue C, pages 91-108, DOI: 10.1016/j.jmoneco.2021.08.001.
- Cai, Zhifeng, 2021, "Secular stagnation, financial frictions, and land prices," Journal of Monetary Economics, Elsevier, volume 124, issue C, pages 66-90, DOI: 10.1016/j.jmoneco.2021.10.001.
- Tang, Wenjin & Ding, Saijie & Chen, Hao, 2021, "Economic uncertainty and its spillover networks: Evidence from the Asia-Pacific countries," Pacific-Basin Finance Journal, Elsevier, volume 67, issue C, DOI: 10.1016/j.pacfin.2021.101539.
- Wang, Bo & Li, Haoran, 2021, "Downside risk, financial conditions and systemic risk in China," Pacific-Basin Finance Journal, Elsevier, volume 68, issue C, DOI: 10.1016/j.pacfin.2020.101356.
- Bohn, Frank & Veiga, Francisco José, 2021, "Political forecast cycles," European Journal of Political Economy, Elsevier, volume 66, issue C, DOI: 10.1016/j.ejpoleco.2020.101934.
- Park, Hyejin, 2021, "Collateral reuse, collateral mismatch, and financial crises," The Quarterly Review of Economics and Finance, Elsevier, volume 79, issue C, pages 367-380, DOI: 10.1016/j.qref.2020.07.007.
- Ellington, Michael & Milas, Costas, 2021, "On the economic impact of aggregate liquidity shocks: The case of the UK," The Quarterly Review of Economics and Finance, Elsevier, volume 80, issue C, pages 737-752, DOI: 10.1016/j.qref.2018.09.008.
- Konstantinou, Panagiotis Th. & Partheniou, Andromachi, 2021, "The Effects of Government Spending Over the Business Cycle: A Disaggregated Analysis for OECD and Non-OECD Countries," The Quarterly Review of Economics and Finance, Elsevier, volume 80, issue C, pages 809-822, DOI: 10.1016/j.qref.2019.09.017.
- Nguyen, Canh Phuc & Su, Thanh Dinh, 2021, "Easing economic vulnerability: Multidimensional evidence of financial development," The Quarterly Review of Economics and Finance, Elsevier, volume 81, issue C, pages 237-252, DOI: 10.1016/j.qref.2021.06.007.
- Lian, Yu-Min & Chen, Jun-Home, 2021, "Pricing virtual currency-linked derivatives with time-inhomogeneity," International Review of Economics & Finance, Elsevier, volume 71, issue C, pages 424-439, DOI: 10.1016/j.iref.2020.09.015.
- Fernandes, Gláucia & Mendes, Layla dos Santos & Leite, Rodrigo de Oliveira, 2021, "Cash holdings and profitability of banks in developed and emerging markets," International Review of Economics & Finance, Elsevier, volume 71, issue C, pages 880-895, DOI: 10.1016/j.iref.2020.10.018.
- Liu, Guangling & Molise, Thabang, 2021, "The effectiveness of the counter-cyclical loan-to-value regulation: Generic versus sector-specific rules," International Review of Economics & Finance, Elsevier, volume 72, issue C, pages 270-288, DOI: 10.1016/j.iref.2020.12.002.
- Ali, Syed Zahid & Qureshi, Irfan A., 2021, "Anticipated versus unanticipated productivity shocks and hours-worked," International Review of Economics & Finance, Elsevier, volume 72, issue C, pages 547-572, DOI: 10.1016/j.iref.2020.12.005.
- Huang, Chao-Hsi & Hsieh, Yi-Shan, 2021, "Leverage dynamics over the business cycle: Evidence from Taiwan listed and unlisted firms," International Review of Economics & Finance, Elsevier, volume 74, issue C, pages 373-391, DOI: 10.1016/j.iref.2021.03.007.
- Jiang, Xiandeng & Shi, Yanlin & Zhang, Zhaoyong, 2021, "Does US partisan conflict affect China’s foreign exchange reserves?," International Review of Economics & Finance, Elsevier, volume 75, issue C, pages 21-33, DOI: 10.1016/j.iref.2021.03.025.
- Zabavnik, Darja & Verbič, Miroslav, 2021, "Relationship between the financial and the real economy: A bibliometric analysis," International Review of Economics & Finance, Elsevier, volume 75, issue C, pages 55-75, DOI: 10.1016/j.iref.2021.04.014.
- Lo Cascio, Iolanda, 2021, "A wavelet analysis of the ripple effect in UK regional housing markets," International Review of Economics & Finance, Elsevier, volume 76, issue C, pages 1093-1105, DOI: 10.1016/j.iref.2021.08.001.
- Souza, Rodrigo da Silva & Fry-McKibbin, Renée, 2021, "Global liquidity and commodity market interactions: Macroeconomic effects on a commodity exporting emerging market," International Review of Economics & Finance, Elsevier, volume 76, issue C, pages 781-800, DOI: 10.1016/j.iref.2021.07.008.
- Isik, Ihsan & Uygur, Ozge, 2021, "Financial crises, bank efficiency and survival: Theory, literature and emerging market evidence," International Review of Economics & Finance, Elsevier, volume 76, issue C, pages 952-987, DOI: 10.1016/j.iref.2021.07.016.
- Saini, Seema & Ahmad, Wasim & Bekiros, Stelios, 2021, "Understanding the credit cycle and business cycle dynamics in India," International Review of Economics & Finance, Elsevier, volume 76, issue C, pages 988-1006, DOI: 10.1016/j.iref.2021.08.006.
- Apergis, Nicholas & Chatziantoniou, Ioannis, 2021, "Credit supply conditions and business cycles: New evidence from bank lending survey data," Research in International Business and Finance, Elsevier, volume 55, issue C, DOI: 10.1016/j.ribaf.2020.101332.
- Demirer, Riza & Gabauer, David & Gupta, Rangan & Ji, Qiang, 2021, "Monetary policy and speculative spillovers in financial markets," Research in International Business and Finance, Elsevier, volume 56, issue C, DOI: 10.1016/j.ribaf.2020.101373.
- Anastasiou, Dimitrios & Bragoudakis, Zacharias & Giannoulakis, Stelios, 2021, "Perceived vs actual financial crisis and bank credit standards: Is there any indication of self-fulfilling prophecy?," Research in International Business and Finance, Elsevier, volume 58, issue C, DOI: 10.1016/j.ribaf.2021.101486.
- French, Michael T. & Gumus, Gulcin, 2021, "Death on the job: The Great Recession and work-related traffic fatalities," Social Science & Medicine, Elsevier, volume 280, issue C, DOI: 10.1016/j.socscimed.2021.113979.
- Tavani, Daniele & Zamparelli, Luca, 2021, "Labor-augmenting technical change and the wage share: New microeconomic foundations," Structural Change and Economic Dynamics, Elsevier, volume 56, issue C, pages 27-34, DOI: 10.1016/j.strueco.2020.09.004.
- da Silveira, Jaylson Jair & Lima, Gilberto Tadeu, 2021, "Wage inequality as a source of endogenous macroeconomic fluctuations," Structural Change and Economic Dynamics, Elsevier, volume 56, issue C, pages 35-52, DOI: 10.1016/j.strueco.2020.07.009.
- Barrales-Ruiz, Jose & Arnim, Rudiger von, 2021, "Endogenous fluctuations in demand and distribution: An empirical investigation," Structural Change and Economic Dynamics, Elsevier, volume 58, issue C, pages 204-220, DOI: 10.1016/j.strueco.2021.05.005.
- Parui, Pintu, 2021, "Financialization and endogenous technological change: A post-Kaleckian perspective," Structural Change and Economic Dynamics, Elsevier, volume 58, issue C, pages 221-244, DOI: 10.1016/j.strueco.2021.05.004.
- Parui, Pintu, 2021, "The Macroeconomic Effects of Financialization and the Wage Gap between Blue and White Collar Workers," Structural Change and Economic Dynamics, Elsevier, volume 58, issue C, pages 416-443, DOI: 10.1016/j.strueco.2021.06.012.
- Škare, Marinko & Soriano, Domingo Riberio & Porada-Rochoń, Małgorzata, 2021, "Impact of COVID-19 on the travel and tourism industry," Technological Forecasting and Social Change, Elsevier, volume 163, issue C, DOI: 10.1016/j.techfore.2020.120469.
- Basco, Sergi & Domènech, Jordi & Rosés, Joan R., 2021, "The redistributive effects of pandemics: Evidence on the Spanish flu," World Development, Elsevier, volume 141, issue C, DOI: 10.1016/j.worlddev.2021.105389.
- Aleksandar Vasilev, 2021, "A Real-Business-Cycle model with search-and-matching frictions and efficiency ("fair") wages," Journal of Economics and Econometrics, Economics and Econometrics Society, volume 64, issue 2, pages 1-23.
- Jamil Sayeed, 2021, "Identifying Key Macroeconomic Shocks to Canadian GDP," Journal of Economics and Econometrics, Economics and Econometrics Society, volume 64, issue 2, pages 40-63.
- Aleksandar Vasilev, 2021, "Indeterminacy with preferences featuring multiplicative habits in consumption," Journal of Economics and Econometrics, Economics and Econometrics Society, volume 64, issue 3, pages 1-16.
- Aleksandar Vasilev, 2021, "Is Military Spending Quantitatively Important for Business Cycle Fluctuations?," EERI Research Paper Series, Economics and Econometrics Research Institute (EERI), Brussels, number EERI RP 2021/03, Jan.
- Oscar Pavlov & Mark Weder, 2021, "Endogenous Product Scope: Market Interlacing and Aggregate Business Cycle Dynamics," CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University, number 2021-03, Jan.
- Dou Jiang & Mark Weder, 2021, "American business cycles 1889-1913: An accounting approach," CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University, number 2021-06, Jan.
- Kozo Ueda, 2021, "Duopolistic competition and monetary policy," CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University, number 2021-07, Jan.
- Trung Duc Tran, 2021, "The macroeconomic effects of commodity price uncertainty," CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University, number 2021-09, Jan.
- Renée Fry-McKibbin & Beili Zhu, 2021, "How do oil shocks transmit through the US economy? Evidence from a large BVAR model with stochastic volatility," CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University, number 2021-13, Jan.
- Masashige Hamano & Francesco Zanetti, 2021, "Monetary policy, firm heterogeneity, and product variety," CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University, number 2021-16, Jan.
- Giovanni Caggiano & Efrem Castelnuovo, 2021, "Global uncertainty," CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University, number 2021-21, Feb.
- Jesús Fernández-Villaverde & Federico Mandelman & Yang Yu & Francesco Zanetti, 2021, "The "Matthew effect" and market concentration: Search complementarities and monopsony power," CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University, number 2021-22, Feb.
- Renée Fry-McKibbin & Matthew Greenwood-Nimmo & Cody Yu-Ling Hsiao & Lin Qi, 2021, "Higher-order comoment contagion among G20 equity markets during the COVID-19 pandemic," CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University, number 2021-36, Apr.
Printed from https://ideas.repec.org/j/E32-29.html