Report NEP-MAC-2012-01-03

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:

• Martin Menner, 2011. ""Gesell Tax" and Efficiency of Monetary Exchange," Working Papers. Serie AD 2011-26, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
• Junsang Lee & Keisuke Otsu, 2011. "The Credit Spread and U.S. Business Cycles," Studies in Economics 1123, School of Economics, University of Kent.
• Scheffknecht, Lukas & Geiger, Felix, 2011. "A behavioral macroeconomic model with endogenous boom-bust cycles and leverage dynamcis," FZID Discussion Papers 37-2011, University of Hohenheim, Center for Research on Innovation and Services (FZID).
• Christopher Ragan, 2011. "The Roads Not Taken: Why the Bank of Canada Stayed With Inflation Targeting," e-briefs 125, C.D. Howe Institute.
• Eric M. Leeper & Todd B. Walker, 2011. "Perceptions and misperceptions of fiscal inflation," BIS Working Papers 364, Bank for International Settlements.
• Sámano Daniel, 2011. "In the Quest of Macroprudential Policy Tools," Working Papers 2011-17, Banco de México.
• Gbaguidi, David Sedo, 2011. "Regime Switching in a New Keynesian Phillips Curve with Non-zero Steady-state Inflation Rate," MPRA Paper 35481, University Library of Munich, Germany.
• Ian Christensen & Césaire Meh & Kevin Moran, 2011. "Bank Leverage Regulation and Macroeconomic Dynamics," Staff Working Papers 11-32, Bank of Canada.
• Olivier Blanchard & Marianna Riggi, 2011. "Why are the 2000s so different from the 1970s? A structural interpretation of changes in the macroeconomic effects of oil prices in the US," Temi di discussione (Economic working papers) 835, Bank of Italy, Economic Research and International Relations Area.
• Thorsten Drautzburg & Harald Uhlig, 2011. "Fiscal Stimulus and Distortionary Taxation," Working Papers 2011-005, Becker Friedman Institute for Research In Economics.
• Yahong Zhang, 2011. "Financial Frictions, Financial Shocks and Labour Market Fluctuations in Canada," Discussion Papers 11-10, Bank of Canada.
• Aliyu, Shehu Usman Rano, 2011. "Reactions of stock market to monetary policy shocks during the global financial crisis: the Nigerian case," MPRA Paper 35581, University Library of Munich, Germany, revised 28 Dec 2011.
• Ian Christensen & Césaire Meh & Kevin Moran, 2011. "Bank Leverage Regulation and Macroeconomic Dynamics," CIRANO Working Papers 2011s-76, CIRANO.
• Peter Sinclair, 2011. "Inflation Targeting Dilemmas," Discussion Papers 11-23, Department of Economics, University of Birmingham.
• Ansgar Belke & Niklas Potrafke, 2011. "Does Government Ideology Matter in Monetary Policy? A Panel Data Analysis for OECD Countries," Working Paper Series of the Department of Economics, University of Konstanz 2011-48, Department of Economics, University of Konstanz.
• Jarko, Fidrmuc & Iikka, Korhonen & Ivana, Bátorová, 2011. "China in the World Economy: Dynamic Correlation Analysis of Business Cycles," CEI Working Paper Series 2011-9, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University.
• Carolina Arteaga cabrales & Joan Camilo Granados Castro & Jair Ojeda Joya, 2011. "The Effect of Monetary Policy on Commodity Prices: Disentangling the Evidence for Individual Prices," Borradores de Economia 9199, Banco de la Republica.
• Ansgar Belke & Niklas Potrafke, 2011. "Does Government Ideology Matter in Monetary Policy?: A Panel Data Analysis for OECD Countries," Discussion Papers of DIW Berlin 1180, DIW Berlin, German Institute for Economic Research.
• Gortz, Christoph & John, Tsoukalas, 2011. "Learning, capital-embodied technology and aggregate fluctuations," MPRA Paper 35438, University Library of Munich, Germany, revised Nov 2011.
• Hideaki Hirata & Keisuke Otsu, 2011. "Accounting for the economic relationship between Japan and the Asian Tigers," Studies in Economics 1120, School of Economics, University of Kent.
• Francesco Giavazzi & Alberto Giovannini, 2011. "Central Banks and the Financial System," Working Papers 425, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
• Han Chen & Vasco Curdia & Andrea Ferrero, 2011. "The macroeconomic effects of large-scale asset purchase programs," Staff Reports 527, Federal Reserve Bank of New York.
• Christoffel, Kai & Kilponen, Juha & Jaccard, Ivan, 2011. "Government bond risk premia and the cyclicality of fiscal policy," Working Paper Series 1411, European Central Bank.
• Item repec:wsr:wpaper:y:2011:i:075 is not listed on IDEAS anymore

• Alan K. Detmeister, 2011. "The usefulness of core PCE inflation measures," Finance and Economics Discussion Series 2011-56, Board of Governors of the Federal Reserve System (U.S.).
• Luis Felipe Céspedes & Andrés Velasco, 2011. "Was This Time Different?: Fiscal Policy in Commodity Republics," BIS Working Papers 365, Bank for International Settlements.
• David Turner & Francesca Spinelli, 2011. "Explaining the Interest-Rate-Growth Differential Underlying Government Debt Dynamics," OECD Economics Department Working Papers 919, OECD Publishing.
• Reuven Glick & Sylvain Leduc, 2011. "Central bank announcements of asset purchases and the impact on global financial and commodity markets," Working Paper Series 2011-30, Federal Reserve Bank of San Francisco.
• García-Verdú Santiago, 2011. "On the Term Structure of Interest Rates of the Mexican Government," Working Papers 2011-18, Banco de México.
• Adrian Pagan & Tim Robinson, 2011. "Assessing Some Models of the Impact of Financial Stress upon Business Cycles," RBA Research Discussion Papers rdp2011-04, Reserve Bank of Australia.
• Carmen M. Reinhart & M. Belen Sbrancia, 2011. "The Liquidation of Government Debt," BIS Working Papers 363, Bank for International Settlements.
• Jeong, Sangjun & Jung, Hueechae, 2011. "Banks' wholesale funding and credit procyclicality: evidence from Korea," MPRA Paper 35568, University Library of Munich, Germany.
• Mohamed Tahar Benkhodja, 2011. "Monetary Policy and the Dutch Disease in a Small Open Oil Exporting Economy," Working Papers 1134, Groupe d'Analyse et de Théorie Economique Lyon St-Étienne (GATE Lyon St-Étienne), Université de Lyon.
• Bonci, Riccardo, 2011. "Monetary policy and the flow of funds in the euro area," Working Paper Series 1402, European Central Bank.
• Philip Turner, 2011. "Is the long-term interest rate a policy victim, a policy variable or a policy lodestar?," BIS Working Papers 367, Bank for International Settlements.
• Łukasz Rawdanowicz & Eckhard Wurzel & Patrice Ollivaud, 2011. "Current Issues in Managing Government Debt and Assets," OECD Economics Department Working Papers 923, OECD Publishing.
• Hameed, Irfan & Ume, Amen, 2011. "Impact of monetary policy on gross domestic product (GDP)," MPRA Paper 35562, University Library of Munich, Germany.
• Agnieszka Stążka-Gawrysiak, 2011. "Poland on the road to the euro: How serious is the risk of boom-bust cycles after the euro adoption? An empirical analysis," NBP Working Papers 103, Narodowy Bank Polski.
• Kevin J. Lansing, 2011. "Asset pricing with concentrated ownership of capital," Working Paper 2011/18, Norges Bank.
• Harald Uhlig, 2011. "Economics and Reality," Working Papers 2011-006, Becker Friedman Institute for Research In Economics.
• Farhi, Emmanuel & Gopinath, Gita & Itskhoki, Oleg, 2011. "Fiscal Devaluations," CEPR Discussion Papers 8721, C.E.P.R. Discussion Papers.
• Simona Cociuba & Malik Shukayev & Alexander Ueberfeldt, 2011. "Do Low Interest Rates Sow the Seeds of Financial Crises?," Staff Working Papers 11-31, Bank of Canada.
• Francesco Caprioli & Sandro Momigliano, 2011. "The effects of fiscal shocks with debt-stabilizing budgetary policies in Italy," Temi di discussione (Economic working papers) 839, Bank of Italy, Economic Research and International Relations Area.
• Item repec:hhs:bofitp:2011_030 is not listed on IDEAS anymore

• Tsutomu Watanabe & Tomoyoshi Yabu, 2011. "The Great Intervention and Massive Money Injection: The Japanese Experience 2003-2004," CARF F-Series CARF-F-266, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
• Yana Vaziakova & Geoff Barnard & Tatiana Lysenko, 2011. "Russia: Progress in Structural Reform and Framework Conditions," OECD Economics Department Working Papers 920, OECD Publishing.
• Alan J Auerbach, 2011. "Long-term fiscal sustainability in major economies," BIS Working Papers 361, Bank for International Settlements.
• Mariacristina De Nardi & Eric French & David Benson, 2011. "Consumption and the Great Recession," NBER Working Papers 17688, National Bureau of Economic Research, Inc.
• Cimadomo, Jacopo, 2011. "Real-time data and fiscal policy analysis: a survey of the literature," Working Paper Series 1408, European Central Bank.
• Jósef Sigurdsson, 2011. "Unemployment Dynamics and Cyclical Fluctuations in the Icelandic Labour Market," Economics wp56, Department of Economics, Central bank of Iceland.
• Sigrid Röhrs & Christoph Winter, 2011. "Wealth inequality and the optimal level of government debt," ECON - Working Papers 051, Department of Economics - University of Zurich.
• Emmanuel Farhi & Gita Gopinath & Oleg Itskhoki, 2011. "Fiscal Devaluations," NBER Working Papers 17662, National Bureau of Economic Research, Inc.
• Michal Franta & Jozef Barunik & Roman Horvath & Katerina Smidkova, 2011. "Are Bayesian Fan Charts Useful for Central Banks? Uncertainty, Forecasting, and Financial Stability Stress Tests," Working Papers 2011/10, Czech National Bank.
• STANOVA, Nadja, 2011. "Output and price behaviour in a system dynamics model," Working Papers 2011022, University of Antwerp, Faculty of Business and Economics.
• Chad P. Bown & Meredith A. Crowley, 2011. "Import protection, business cycles, and exchange rates: evidence from the Great Recession," Working Paper Series WP-2011-16, Federal Reserve Bank of Chicago.
• Jaroslav BoroviÄ ka & Lars Peter Hansen, 2011. "Examining Macroeconomic Models Through the Lens of Asset Pricing," Working Papers 2011-012, Becker Friedman Institute for Research In Economics.
• Franziska Bremus, 2011. "Financial Integration and Macroeconomic Stability: What Role for Large Banks?," Discussion Papers of DIW Berlin 1178, DIW Berlin, German Institute for Economic Research.
• Jaroslav Borovicka & Lars Peter Hansen, 2012. "Examining macroeconomic models through the lens of asset pricing," Working Paper Series WP-2012-01, Federal Reserve Bank of Chicago.
• Harun Mirza & Lidia Storjohann, 2011. "Making a Weak Instrument Set Stronger: Factor-Based Estimation of the Taylor Rule," Bonn Econ Discussion Papers bgse13_2012, University of Bonn, Germany.
• Badarinza, Cristian & Gross, Marco, 2011. "Macroeconomic vulnerability and disagreement in expectations," Working Paper Series 1407, European Central Bank.
• Grossmann, Volker & Steger, Thomas M. & Trimborn, Timo, 2011. "The macroeconomics of TANSTAAFL," Working Papers 101, University of Leipzig, Faculty of Economics and Management Science.
• Steven J. Davis & Till Von Wachter, 2011. "Recessions and the Costs of Job Loss," Working Papers 2011-009, Becker Friedman Institute for Research In Economics.
• Item repec:idb:brikps:60818 is not listed on IDEAS anymore

• Charles Goodhart, 2011. "Global Macroeconomic and Financial Supervision: Where Next?," NBER Working Papers 17682, National Bureau of Economic Research, Inc.
• Michael Elsby & Bart Hobijn & Ayşegül Şahin & Robert G. Valletta, 2011. "The labor market in the Great Recession: an update," Working Paper Series 2011-29, Federal Reserve Bank of San Francisco.
• Gábor P. Kiss, 2011. "Moving target indication: Fiscal indicators employed by the Magyar Nemzeti Bank," MNB Occasional Papers 2011/92, Magyar Nemzeti Bank (Central Bank of Hungary).
• Purvi Sevak & Lucie Schmidt, 2011. "Macroeconomic Conditions and Updating of Expectations by Older Americans," Working Papers wp259, University of Michigan, Michigan Retirement Research Center.
• Nicolas E. Magud & Carmen M. Reinhart & Esteban R. Vesperoni, 2011. "Capital Inflows, Exchange Rate Flexibility, and Credit Booms," NBER Working Papers 17670, National Bureau of Economic Research, Inc.
• Jarkko Jääskelä & Penelope Smith, 2011. "Terms of Trade Shocks: What are They and What Do They Do?," RBA Research Discussion Papers rdp2011-05, Reserve Bank of Australia.
• Lahura, Erick, 2011. "An Empirical Analysis of the Credit-Output Relationship: Evidence from Peru," Working Papers 2011-018, Banco Central de Reserva del Perú.
• Acharya, Viral & Mora, Nada, 2011. "Are Banks Passive Liquidity Backstops? Deposit Rates and Flows during the 2007-2009 Crisis," CEPR Discussion Papers 8706, C.E.P.R. Discussion Papers.
• Nicolas Chatelais, 2011. "Taille de pays et stratégie de concurrence fiscale des petits pays," Documents de travail du Centre d'Economie de la Sorbonne 11082, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
• Berriel, Tiago Couto & Zilberman, Eduardo, 2011. "Targeting the poor: a macroeconomic analysis of cash transfer programs," FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) 726, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil).
• Sisak Balázs, 2011. "What drives cash demand? Transactional and residual cash demand in selected countries," MNB Working Papers 2011/10, Magyar Nemzeti Bank (Central Bank of Hungary).
• Akihisa Shibata & Tarishi Matsuoka, 2011. "Asset Bubbles, Credit Market Imperfections, and Technology Choice," KIER Working Papers 804, Kyoto University, Institute of Economic Research.
• Eriksson, Stefan & Stadin, Karolina, 2011. "The Determinants of Hiring in Local Labor Markets: The Role of Demand and Supply Factors," Working Paper Series 2011:19, Uppsala University, Department of Economics.
• John Hatgioannides & Marika Karanassou, 2011. "Warrant Economics, Call-Put Policy Options and the Fallacies of Economic Theory," Working Papers 686, Queen Mary University of London, School of Economics and Finance.
• Marco Cozzi, 2012. "Risk Aversion Heterogeneity, Risky Jobs And Wealth Inequality," Working Paper 1286, Economics Department, Queen's University.
• Fiorella Del Fiore & Harald Uhlig, 2011. "Bank Finance Versus Bond Finance," Working Papers 2011-004, Becker Friedman Institute for Research In Economics.
• Tavares, José & Sazedj, Sharmin, 2011. "Hope, Change, and Financial Markets: Can Obama's Words Drive the Market?," CEPR Discussion Papers 8713, C.E.P.R. Discussion Papers.
• Ojo, Marianne, 2011. "Harmonising Basel III and the Dodd Frank Act," MPRA Paper 35475, University Library of Munich, Germany.
• Francesco Caselli & Antonio Ciccone, 2011. "The Contribution of Schooling in Development Accounting: Results from a Nonparametric Upper Bound," NBER Working Papers 17656, National Bureau of Economic Research, Inc.
• Jean-Christophe Pereau & Nicolas Sanz, 2011. "Les effets de la politique monétaire sur l'emploi et les salaires," Documents de Travail 2011-02, CEREGMIA, Université des Antilles et de la Guyane.
• Nicolas Chatelais, 2011. "Taille de pays et croissance en Europe," Documents de travail du Centre d'Economie de la Sorbonne 11081, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
• Eric van Wincoop, 2011. "International Contagion Through Leveraged Financial Institutions," NBER Working Papers 17686, National Bureau of Economic Research, Inc.
• Jeroen Klomp & Jakob de Haan, 2011. "Banking risk and regulation: Does one size fit all?," DNB Working Papers 323, Netherlands Central Bank, Research Department.
• Nicolas Chatelais, 2011. "Elasticité des bases fiscales (composées des profits des sociétés)en Europe," Documents de travail du Centre d'Economie de la Sorbonne 11079, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.