Report NEP-MAC-2016-01-03

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:

• David Rosnick & Mark Weisbrot, 2015. "Has Austerity Worked in Spain?," CEPR Reports and Issue Briefs 2015-27, Center for Economic and Policy Research (CEPR).
• Marine Charlotte André & Meixing Dai, 2015. "Central bank accountability under adaptive learning," Working Papers of BETA 2015-32, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
• Klara Halova & Roman Horvath, 2015. "International Spillovers of ECB’s Unconventional Monetary Policy: The Effect on Central and Eastern Europe," Working Papers 351, Leibniz Institut für Ost- und Südosteuropaforschung (Institute for East and Southeast European Studies).
• Gjelsvik, Marit Linnea & Nymoen, Ragnar & Sparrman, Victoria, 2015. "Have Inflation Targeting and EU labour Immigration Changed the System of Wage Formation in Norway," Memorandum 18/2015, Oslo University, Department of Economics.
• Item repec:upd:utppwp:058 is not listed on IDEAS anymore

• Francesco Saraceno & Roberto Tamborini, 2015. "How can it work? On the impact of quantitative easing in the Eurozone," DEM Working Papers 2015/03, Department of Economics and Management.
• Item repec:upd:utppwp:060 is not listed on IDEAS anymore

• Aleksandra Halka, 2015. "Lessons from the crisis.Did central banks do their homework?," NBP Working Papers 224, Narodowy Bank Polski.
• Konstantinos Theodoridis & Haroon Mumtaz, 2015. "Dynamic Effects of Monetary Policy Shocks on Macroeconomic Volatility," Working Papers 101219932, Lancaster University Management School, Economics Department.
• Söderberg, Johan, 2015. "Seasonality in the Frequency of Price Change and Optimal Monetary Policy," Research Papers in Economics 2015:11, Stockholm University, Department of Economics.
• Fernando Uscátegui & Mike Woodcock & Carlos Méndez, 2015. "An Approach About Monetary Policy Risk Balance In Colombia: A Multivariate Analysis Based On Time Series," Econógrafos, Escuela de Economía 14168, Universidad Nacional de Colombia, FCE, CID.
• Tsoulfidis, Lefteris, 2008. "Keynes on the Marginal Efficiency of Capital and the Great Depression," MPRA Paper 68539, University Library of Munich, Germany, revised 2015.
• Claudio, Morana, 2015. "The US$/€ exchange rate: Structural modeling and forecasting during the recent financial crises," Working Papers 321, University of Milano-Bicocca, Department of Economics, revised 28 Dec 2015.
• Krug, Sebastian, 2015. "The interaction between monetary and macroprudential policy: Should central banks "lean against the wind" to foster macrofinancial stability?," Economics Working Papers 2015-08, Christian-Albrechts-University of Kiel, Department of Economics.
• Gabrisch, Hubert, 2015. "Cross-border finance, trade imbalances and competitiveness in the euro area," MPRA Paper 68518, University Library of Munich, Germany.
• Todd Keister & Antoine Martin & James J. McAndrews, 2015. "Floor systems and the Friedman rule: the fiscal arithmetic of open market operations," Staff Reports 754, Federal Reserve Bank of New York.
• Dräger, Lena & Proaño, Christian R., 2015. "Cross-border banking and business cycles in asymmetric currency unions," BERG Working Paper Series 105, Bamberg University, Bamberg Economic Research Group.
• Charles T. Carlstrom & Timothy S. Fuerst, 2015. "Macro Credit Policy and the Financial Accelerator," Working Papers (Old Series) 1531, Federal Reserve Bank of Cleveland.
• Surico, Paolo & Cloyne, James & Ferreira, Clodomiro, 2015. "Monetary Policy when Households have Debt: New Evidence on the Transmission Mechanism," CEPR Discussion Papers 11023, C.E.P.R. Discussion Papers.
• Owen F. Humpage & Sanchita Mukherjee, 2015. "Even Keel and the Great Inflation," Working Papers (Old Series) 1532, Federal Reserve Bank of Cleveland.
• Felipe, Jesus & Sotocinal, Noli & Bayudan-Dacuycuy, Connie, 2015. "The Impact of Financial Factors on the Output Gap and Estimates of Potential Output Growth," ADB Economics Working Paper Series 457, Asian Development Bank.
• Guner, Nezih & Ventura, Gustavo & Parkhomenko, Andrii, 2015. "Managers and Productivity Differences," CEPR Discussion Papers 11012, C.E.P.R. Discussion Papers.
• Guner, Nezih & Parkhomenko, Andrii & Ventura, Gustavo, 2015. "Managers and Productivity Differences," IZA Discussion Papers 9586, Institute of Labor Economics (IZA).
• McMahon, Michael & Hansen, Stephen, 2015. "Shocking language: Understanding the macroeconomic effects of central bank communication," CEPR Discussion Papers 11018, C.E.P.R. Discussion Papers.
• David Wiczer, 2015. "Long-Term Unemployment: Attached and Mismatched?," Working Papers 2015-42, Federal Reserve Bank of St. Louis.
• Item repec:upd:utppwp:059 is not listed on IDEAS anymore

• Riccardo Pariboni, 2015. "Autonomous demand and the Marglin-Bhaduri model: a critical note," Department of Economics University of Siena 715, Department of Economics, University of Siena.
• Munechika Katayama & Kwang Hwan Kim, 2015. "Inter-sectoral Labor Immobility, Sectoral Co-movement, and News Shocks," Discussion papers e-15-011, Graduate School of Economics , Kyoto University.
• Aleksandra Hałka & Karol Szafranek, 2015. "Whose inflation is it anyway? The inflation spillovers between the euro area and small open economies," NBP Working Papers 223, Narodowy Bank Polski.
• Antonakakis, Nikolaos & Gogas, Periklis & Papadimitriou, Theophilos & Sarantitis, Georgios, 2015. "International Business Cycle Synchronization Since the 1870s: Evidence from a Novel Network Approach," DUTH Research Papers in Economics 2-2015, Democritus University of Thrace, Department of Economics.
• Rangan Gupta & Charl Jooste, 2015. "Unconventional Monetary Policy Shocks in OECD Countries: How Important is the Extent of Policy Uncertainty?," Working Papers 201587, University of Pretoria, Department of Economics.
• Vayanos, Dimitri & Greenwood, Robin & Hanson, Samuel G, 2015. "Forward Guidance in the Yield Curve: Short Rates versus Bond Supply," CEPR Discussion Papers 11005, C.E.P.R. Discussion Papers.
• Miura, Shinji, 2015. "Graphic explanation for welfare economic foundation of hoarding loss," MPRA Paper 68551, University Library of Munich, Germany.
• Müller, Gernot & Wolf, Martin & Kuvshinov, Dmitry, 2015. "Deleveraging, deflation and depreciation in the euro area," CEPR Discussion Papers 11015, C.E.P.R. Discussion Papers.
• Woodford, Michael & Cúrdia, Vasco, 2015. "Credit Frictions and Optimal Monetary Policy," CEPR Discussion Papers 11016, C.E.P.R. Discussion Papers.
• Nagore García, Amparo & van Soest, Arthur, 2015. "New Job Matches and Their Stability Before and During the Crisis," IZA Discussion Papers 9574, Institute of Labor Economics (IZA).
• Feld, Lars P. & Köhler, Ekkehard A., 2015. "Is Switzerland an interest rate island after all? Time series and non-linear switching regime evidence," Freiburg Discussion Papers on Constitutional Economics 15/08, Walter Eucken Institut e.V..
• Álvaro Zerda Sarmiento, 2015. "La economía de Colombia, entre la apertura y el extractivismo," Documentos de Trabajo, Escuela de Economía 14166, Universidad Nacional de Colombia, FCE, CID.
• Leonardo Nogueira Ferreira & Márcio Issao Nakane, 2015. "Macroprudential Policy in a DSGE Model: anchoring the countercyclical capital buffer," Working Papers, Department of Economics 2015_45, University of São Paulo (FEA-USP).
• B. Camara & F.-D. Castellani & H. Fraisse & L. Frey & C. Héam & L. Labonne & V. Martin, 2015. "MERCURE : A Macroprudential Stress Testing Model developed at the ACPR," Débats Economiques et financiers 19, Banque de France.
• Arora, Vipin, 2015. "Consumer Credit, Oil Prices, and the U.S. Economy," MPRA Paper 68563, University Library of Munich, Germany.
• Anaya, Pablo & Hachula, Michael & Offermanns, Christian, 2015. "Spillovers of U.S. unconventional monetary policy to emerging markets: The role of capital flows," Discussion Papers 2015/35, Free University Berlin, School of Business & Economics.
• Skreta, Vasiliki & Giacomini, Raffaella & Turén, Javier, 2015. "Models, Inattention and Expectation Updates," CEPR Discussion Papers 11004, C.E.P.R. Discussion Papers.
• Battaile,William G. & Hernandez,Fernando Leonardo & Norambuena,Vivian, 2015. "Debt sustainability in Sub-Saharan Africa : unraveling country-specific risks," Policy Research Working Paper Series 7523, The World Bank.
• Proaño, Christian R. & Lojak, Benjamin, 2015. "Debt stabilization and macroeconomic volatility in monetary unions under heterogeneous sovereign risk perceptions," BERG Working Paper Series 106, Bamberg University, Bamberg Economic Research Group.
• Katsurako Sonoda & Nao Sudo, 2015. "Is macroprudential policy instrument blunt?," Bank of Japan Working Paper Series 15-E-11, Bank of Japan.
• Sebastian Edwards & Francis A. Longstaff & Alvaro Garcia Marin, 2015. "The U.S. Debt Restructuring of 1933: Consequences and Lessons," NBER Working Papers 21694, National Bureau of Economic Research, Inc.
• Khraief, Naceur & Shahbaz, Muhammad & Heshmati, Almas & Azam, Muhammad, 2015. "Are Unemployment Rates in OECD Countries Stationary? Evidence from Univariate and Panel Unit Root Tests," IZA Discussion Papers 9571, Institute of Labor Economics (IZA).
• Zeyyad Mandalinci, 2015. "Forecasting Inflation in Emerging Markets: An Evaluation of Alternative Models," CReMFi Discussion Papers 3, CReMFi, School of Economics and Finance, QMUL.
• Sun, Lixin & Huang, Yuqin, 2013. "Measuring the Instability of China’s Financial System: Indices Construction and an Early Warning System," MPRA Paper 68497, University Library of Munich, Germany, revised 2014.
• Jean-Pierre Allegret & Audrey Sallenave, 2015. "The Role of International Reserves Holding in Buffering External Shocks," EconomiX Working Papers 2015-41, University of Paris Nanterre, EconomiX.
• Pawel Baranowski & Zbigniew Kuchta, 2015. "Changes in nominal rigidities in Poland – a regime switching DSGE perspective," Lodz Economics Working Papers 6/2015, University of Lodz, Faculty of Economics and Sociology.
• Nikolaos Antonakakis & Rangan Gupta & Aviral Kumar Twari, 2015. "Time-Varying Correlations between Trade Balance and Stock Prices in the United States over the Period 1792 to 2013," Working Papers 2015100, University of Pretoria, Department of Economics.
• Mikhail V. Oet & Stephen J. Ong, 2015. "From Organization to Activity in the US Collateralized Interbank Market," Working Papers (Old Series) 1529, Federal Reserve Bank of Cleveland.
• Klaus Schmidt-Hebbel & José Carlos Tello, 2014. "The Political Economy of Growth, Inequality, the Size and Composition of Government Spending," Documentos de Trabajo 453, Instituto de Economia. Pontificia Universidad Católica de Chile..
• Roman Horvath & Dominika Katuscakova, 2015. "Transparency and Trust: The Case of the European Central Bank," Working Papers 352, Leibniz Institut für Ost- und Südosteuropaforschung (Institute for East and Southeast European Studies).
• Richard Ashley & Randal J. Verbrugge, 2015. "Persistence Dependence in Empirical Relations: The Velocity of Money," Working Papers (Old Series) 1530, Federal Reserve Bank of Cleveland.
• Ferrarini , Benno & Ramayandi, Arief, 2015. "Public Debt Sustainability in Developing Asia: An Update," ADB Economics Working Paper Series 468, Asian Development Bank.
• Ludwig, Johannes, 2015. "Is there heterogeneity in the response of consumption to income shocks?," Ruhr Economic Papers 595, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
• Miura, Shinji, 2015. "Unified money circulation equation and an analogical explanation for its solvability," MPRA Paper 68550, University Library of Munich, Germany, revised 27 Dec 2015.
• Levrero, Enrico Sergio, 2015. "An initial 'Keynesian illness'? Friedman on taxation and the inflationary gap," MPRA Paper 68547, University Library of Munich, Germany.
• Yunmin Chen & YiLi Chien & Michael T. Owyang, 2015. "Individual and Aggregate Constrained Efficient Intertemporal Wedges in Dynamic Mirrleesian Economies," Working Papers 2015-43, Federal Reserve Bank of St. Louis.
• Jan Tore Klovland & Lars Fredrik Øksendal, 2015. "The decentralised central bank: regional bank rate autonomy in Norway, 1850-1892," Working Paper 2015/20, Norges Bank.
• Stefano Bosi & David Desmarchelier, 2015. "Limit Cycles under a Negative Effect of Pollution on Consumption Demand: The Role of an Environmental Kuznets Curve," CEEES Paper Series CE3S-03/15, European University at St. Petersburg, Department of Economics.
• Allan H. Meltzer, 2015. "Karl Brunner, Scholar: An Appreciation," Economics Working Papers 15116, Hoover Institution, Stanford University.
• Klaus Schmidt-Hebbel & Raimundo Soto & Ibrahim A. Elbadawi, 2014. "Why Do Countries Have Fiscal Rules?," Documentos de Trabajo 452, Instituto de Economia. Pontificia Universidad Católica de Chile..
• KACI, Said & ACHOUCHE, Mohamed, 2015. "Dépenses publiques et croissance économique en Algérie: approche par un modèle de contrôle optimal [Public expenditure and economic growth in Algeria: approach by optimal control model]," MPRA Paper 68499, University Library of Munich, Germany.
• Wei , Shang-Jin & Zhang, Xiaobo, 2015. "The Competitive Saving Motive: Concept, Evidence, and Implications," ADB Economics Working Paper Series 465, Asian Development Bank.
• Giorgio Calcagnini & Germana Giombini & Giuseppe Travaglini, 2015. "The productivity gap among European countries," Working Papers 1510, University of Urbino Carlo Bo, Department of Economics, Society & Politics - Scientific Committee - L. Stefanini & G. Travaglini, revised 2015.
• Lise Clain-Chamosset-Yvrard & Takashi Kamihigashi, 2015. "International Transmission of Bubble Crashes in a Two-Country Overlapping Generations," Discussion Paper Series DP2015-43, Research Institute for Economics & Business Administration, Kobe University.
• Tatiana Didier & M. Ayhan Kose & Franziska Ohnsorge & Lei Sandy Ye, 2015. "Slowdown in Emerging Markets: Rough Patch or Prolonged Weakness?," Koç University-TUSIAD Economic Research Forum Working Papers 1529, Koc University-TUSIAD Economic Research Forum.
• Nagayasu, Jun, 2015. "Regional Inflation and Consumption Behaviors," MPRA Paper 68566, University Library of Munich, Germany.
• Roos, Michael W. M., 2015. "The macroeconomics of radical uncertainty," Ruhr Economic Papers 592, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
• Monokroussos, George, 2015. "Nowcasting in Real Time Using Popularity Priors," MPRA Paper 68594, University Library of Munich, Germany.
• Luciani, Matteo & Pundit, Madhavi & Ramayandi, Arief & Veronese , Giovanni, 2015. "Nowcasting Indonesia," ADB Economics Working Paper Series 471, Asian Development Bank.
• Sambracos, Evangelos & Maniati, Marina, 2015. "Analysis of Financial Crisis Results on Dry Bulk Market & Financing," MPRA Paper 68601, University Library of Munich, Germany.
• James B. Bullard, 2015. "A Hat Trick for the FOMC," Speech 259, Federal Reserve Bank of St. Louis.
• Shushanik Papanyan, 2015. "Digitization and Productivity: Measuring Cycles of Technological Progress," Working Papers 15/33, BBVA Bank, Economic Research Department.
• Javier G. Gómez-Pineda, 2015. "La inflación bajo una perspectiva monetaria: Colombia: 1951-1963 / Inflation under a monetary framework: Colombia, 1951–1963," Borradores de Economia 921, Banco de la Republica de Colombia.
• Shigeru FUJITA & Ippei FUJIWARA, 2015. "Declining Trends in the Real Interest Rate and Inflation: Role of aging," Discussion papers 15140, Research Institute of Economy, Trade and Industry (RIETI).
• Khan, Karim, 2015. "Extractive Institutional Structure and Economic Development: Evidence from Nigeria," MPRA Paper 68559, University Library of Munich, Germany.
• Yuri Yatsenko, 2015. "Models and Games with Adaptation and Mitigation," CEEES Paper Series CE3S-01/15, European University at St. Petersburg, Department of Economics.
• Tanaka, Sakiko & Spohr, Christopher & D’Amico, Sandra, 2015. "Myanmar Human Capital Development, Employment, and Labor Markets," ADB Economics Working Paper Series 469, Asian Development Bank.
• Stelios D. Bekiros & Alessia Paccagnini, 2015. "Macroprudential policy and forecasting using Hybrid DSGE models with financial frictions and State space Markov-Switching TVP-VARs," Open Access publications 10197/7333, School of Economics, University College Dublin.
• Malte Rieth, 2015. "Can Central Banks Successfully Lean against Global Headwinds?," DIW Roundup: Politik im Fokus 88, DIW Berlin, German Institute for Economic Research.
• SATO Motohiro & OGURO Kazumasa, 2015. "Construction and Analysis of a Basic Macro-economic and Earthquake Disaster Model with a Supply Chain Framework and Constraints in Finance Lending Capacity," ESRI Discussion paper series 324, Economic and Social Research Institute (ESRI).
• Holton, Niamh & O'Neill, Donal, 2015. "The Changing Nature of Irish Wage Inequality from Boom to Bust," IZA Discussion Papers 9580, Institute of Labor Economics (IZA).
• Roc Armenter, 2015. "On the use of market-based probabilities for policy decisions," Working Papers 15-44, Federal Reserve Bank of Philadelphia.
• Daniele Girardi & Riccardo Pariboni, 2015. "Autonomous demand and economic growth:some empirical evidence," Department of Economics University of Siena 714, Department of Economics, University of Siena.
• Burret, Heiko T. & Feld, Lars P. & Köhler, Ekkehard A., 2015. "(Un-)Sustinability of public finances in German Laender: A panel time series approach," Freiburg Discussion Papers on Constitutional Economics 15/09, Walter Eucken Institut e.V..
• Rangan Gupta & Mark E. Wohar, 2015. "Forecasting Oil and Stock Returns with a Qual VAR using over 150 Years of Data," Working Papers 201589, University of Pretoria, Department of Economics.
• Sun, Lixin, 2015. "China’s Debt: Structure, Determinants and Sustainability," MPRA Paper 68548, University Library of Munich, Germany, revised Oct 2015.
• Dmitry I. Malakhov & Nikolay P. Pilnik & Igor G. Pospelov, 2015. "Stability of Distribution of Relative Sizes of Banks as an Argument for the Use of the Representative Agent Concept," HSE Working papers WP BRP 116/EC/2015, National Research University Higher School of Economics.
• Mehmet Balcilar & Rangan Gupta & Clement Kyei & Mark Wohar, 2015. "Does Economic Policy Uncertainty Predict Exchange Rate Returns and Volatility? Evidence from a Nonparametric Causality-in-Quantiles Test," Working Papers 201599, University of Pretoria, Department of Economics.
• Jean-Charles BRICONGNE, 2015. "The Quantity Theory of Money Revisited: The Improved Short-Term Predictive Power of Household Money Holdings with Regard to Prices," LEO Working Papers / DR LEO 2296, Orleans Economics Laboratory / Laboratoire d'Economie d'Orleans (LEO), University of Orleans.
• Den Haan, Wouter & Rendahl, Pontus & Kobielarz, Michal, 2015. "Exact Present Solution with Consistent Future Approximation: A Gridless Algorithm to Solve Stochastic Dynamic Models," CEPR Discussion Papers 10999, C.E.P.R. Discussion Papers.
• Paul Mizen & Veronica Veleanu, 2015. "On the Information Flow from Credit Derivatives to the Macroeconomy," Discussion Papers 2015/21, University of Nottingham, Centre for Finance, Credit and Macroeconomics (CFCM).
• McQuinn, Kieran, 2015. "European Fiscal Policy During the Crisis: An Irish Perspective," Research Notes RN2015/3/3, Economic and Social Research Institute (ESRI).
• Fábio Martins Serrano & Márcio Issao Nakane, 2015. "Impacto regional da política monetária no Brasil: uma abordagem Bayesiana," Working Papers, Department of Economics 2015_44, University of São Paulo (FEA-USP).
• Barenberg, Andrew J. & Basu, Deepankar & Soylu, Ceren, 2015. "The Effect of Public Health Expenditure on Infant Mortality: Evidence from a Panel of Indian States, 1983-84 to 2011-12," UMASS Amherst Economics Working Papers 2015-19, University of Massachusetts Amherst, Department of Economics.
• Reinhart, Carmen & Trebesch, Christoph, 2015. "The International Monetary Fund: 70 Years of Reinvention," CEPR Discussion Papers 10998, C.E.P.R. Discussion Papers.
• Item repec:cte:wbrepe:wb1503 is not listed on IDEAS anymore

• Takatoshi ITO & Junko SHIMIZU, 2015. "Challenges of the Japanese Economy: From the viewpoint of international macroeconomics (Japanese)," Policy Discussion Papers (Japanese) 15019, Research Institute of Economy, Trade and Industry (RIETI).