Report NEP-MAC-2016-03-23

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:

• Anzoategui Zapata, Juan Camilo, 2015. "Impacto de política monetaria: una revisión empírica 2000 – 2013 [Impact of monetary policy: an empirical review 2000 - 2013]," MPRA Paper 69349, University Library of Munich, Germany, revised 01 Dec 2014.
• Narayana Kocherlakota, 2016. "Fragility of Purely Real Macroeconomic Models," NBER Working Papers 21866, National Bureau of Economic Research, Inc.
• McKay, Alisdair & Reis, Ricardo, 2016. "The role of automatic stabilizers in the U.S. business cycle," LSE Research Online Documents on Economics 64479, London School of Economics and Political Science, LSE Library.
• Jordan Roulleau-Pasdeloup, 2016. "The Government Spending Multiplier in a (Mis-)Managed Liquidity Trap," Cahiers de Recherches Economiques du Département d'économie 16.03, Université de Lausanne, Faculté des HEC, Département d’économie.
• Takatoshi Ito, 2016. "Japanization: Is it Endemic or Epidemic?," NBER Working Papers 21954, National Bureau of Economic Research, Inc.
• Corbisiero, Giuseppe, 2016. "Bank Lending, Collateral, and Credit Traps in a Monetary Union," Research Technical Papers 02/RT/16, Central Bank of Ireland.
• Sergey Sinelnikov-Murylev & Pavel Trunin, 2016. "Government Wealth Funds and Monetary Policy," Working Papers 148, Gaidar Institute for Economic Policy, revised 2016.
• Gabriel Chodorow-Reich & Johannes Wieland, 2016. "Secular Labor Reallocation and Business Cycles," NBER Working Papers 21864, National Bureau of Economic Research, Inc.
• Kohei Hasui & Tomohiro Sugo & Yuki Teranishi, 2016. "Liquidity Trap and Optimal Monetary Policy Revisited," UTokyo Price Project Working Paper Series 061, University of Tokyo, Graduate School of Economics.
• Valerie A. Ramey, 2016. "Macroeconomic Shocks and Their Propagation," NBER Working Papers 21978, National Bureau of Economic Research, Inc.
• Guglielmo Maria Caporale & Abdurrahman Nazif Catik & Mohamad Husam Helmi & Faek Menla Ali & Mohammad Tajik, 2016. "The Bank Lending Channel in a Dual Banking System: Evidence from Malaysia," Discussion Papers of DIW Berlin 1557, DIW Berlin, German Institute for Economic Research.
• Martin Beraja & Erik Hurst & Juan Ospina, 2016. "The Aggregate Implications of Regional Business Cycles," NBER Working Papers 21956, National Bureau of Economic Research, Inc.
• Francesco Nucci & Marianna Riggi, 2016. "Labor force participation, wage rigidities, and inflation," Temi di discussione (Economic working papers) 1054, Bank of Italy, Economic Research and International Relations Area.
• Jang-Ting Guo & Shu-Hua Chen, 2016. "On Indeterminacy and Growth under Progressive Taxation and Utility-Generating Government Spending," Working Papers 201604, University of California at Riverside, Department of Economics.
• Fujisaki, Seiya, 2016. "Aggregate Stability in Monetary Economy with Consumption Tax and Taylor Rule," MPRA Paper 69833, University Library of Munich, Germany.
• Mayes David & Paloviita Maritta & Viren Matti, 2015. "The EMU and the anchoring of inflation expectations?," Discussion Papers 103, Aboa Centre for Economics.
• Alice, Albonico & Alessia, Paccagnini & Patrizio, Tirelli, 2016. "PIIGS in the Euro Area. An Empirical DSGE Model," Working Papers 331, University of Milano-Bicocca, Department of Economics, revised 11 Mar 2016.
• Xavier Gabaix, 2016. "Behavioral Macroeconomics Via Sparse Dynamic Programming," NBER Working Papers 21848, National Bureau of Economic Research, Inc.
• Paczos, Wojtek, 2016. "Optimal Inflation, Average Markups and Asymmetric Sticky Prices," Economics Working Papers ECO2016/03, European University Institute.
• Susanto Basu & Brent Bundick, 2015. "Endogenous Volatility at the Zero Lower Bound: Implications for Stabilization Policy," NBER Working Papers 21838, National Bureau of Economic Research, Inc.
• Jess Benhabib & Alberto Bisin, 2016. "Skewed Wealth Distributions: Theory and Empirics," NBER Working Papers 21924, National Bureau of Economic Research, Inc.
• Accolley, Delali, 2016. "Accounting for Business Cycles in Canada: I. The Role of Supply-Side Factors," MPRA Paper 69856, University Library of Munich, Germany.
• Mark Gertler & Nobuhiro Kiyotaki & Andrea Prestipino, 2016. "Wholesale Banking and Bank Runs in Macroeconomic Modelling of Financial Crises," NBER Working Papers 21892, National Bureau of Economic Research, Inc.
• Alejandro Justiniano & Giorgio E. Primiceri & Andrea Tambalotti, 2016. "A Simple Model of Subprime Borrowers and Credit Growth," NBER Working Papers 21942, National Bureau of Economic Research, Inc.
• S. Osotimehin & F. Pappadà, 2016. "Credit frictions and the cleansing effect of recessions," Working papers 583, Banque de France.
• Gary Gorton & Guillermo Ordoñez, 2016. "Good Booms, Bad Booms," NBER Working Papers 22008, National Bureau of Economic Research, Inc.
• Grodecka, Anna, 2016. "Subprime Borrowers, Securitization and the Transmission of Business Cycles," Working Paper Series 317, Sveriges Riksbank (Central Bank of Sweden).
• Item repec:bof:bofrdp:urn:nbn:fi:bof-201508211365 is not listed on IDEAS anymore

• Joseph Davis & Marc D. Weidenmier, 2016. "America's First Great Moderation," NBER Working Papers 21856, National Bureau of Economic Research, Inc.
• Peter Rupert & Roman Šustek, 2016. "On the Mechanics of New-Keynesian Models," Working Papers 784, Queen Mary University of London, School of Economics and Finance.
• Huber, Florian & Punzi, Maria Teresa, 2016. "International housing markets, unconventional monetary policy and the zero lower bound," FinMaP-Working Papers 58, Collaborative EU Project FinMaP - Financial Distortions and Macroeconomic Performance: Expectations, Constraints and Interaction of Agents.
• Guay Lim & Sarantis Tsiaplias, 2016. "Non-Linearities in the Relationship between House Prices and Interest Rates: Implications for Monetary Policy," Melbourne Institute Working Paper Series wp2016n02, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne.
• Jeffrey A. Frankel, 2016. "International Coordination," NBER Working Papers 21878, National Bureau of Economic Research, Inc.
• Soldatos, Gerasimos T., 2015. "An Anti-Austerity Policy Recipe against Debt Accumulation in the Presence of Hidden Economy," MPRA Paper 69911, University Library of Munich, Germany.
• Lars E.O. Svensson, 2016. "Cost-Benefit Analysis of Leaning Against the Wind," NBER Working Papers 21902, National Bureau of Economic Research, Inc.
• Per Krusell & Leena Rudanko, 2016. "Unions in a frictional labor market," Working Papers 16-7, Federal Reserve Bank of Philadelphia.
• Alexander Bick & Nicola Fuchs-Schündeln & David Lagakos, 2016. "How do Hours Worked Vary with Income? Cross-Country Evidence and Implications," NBER Working Papers 21874, National Bureau of Economic Research, Inc.
• Item repec:bof:bofitp:urn:nbn:fi:bof-201503111111 is not listed on IDEAS anymore

• Item repec:bof:bofrdp:urn:nbn:fi:bof-201512101464 is not listed on IDEAS anymore

• Item repec:bof:bofrdp:urn:nbn:fi:bof-201508041349 is not listed on IDEAS anymore

• Carmen M. Reinhart & Vincent Reinhart & Christoph Trebesch, 2016. "Global Cycles: Capital Flows, Commodities, and Sovereign Defaults, 1815-2015," NBER Working Papers 21958, National Bureau of Economic Research, Inc.
• Stangebye, Zachary, 2015. "Dynamic Panics: Theory and Application to the Eurozone," MPRA Paper 69967, University Library of Munich, Germany.
• Tomasz Łyziak, 2016. "The impact of financial crisis and low inflation environment on short-term inflation expectations in Poland," NBP Working Papers 235, Narodowy Bank Polski.
• Kinda Cheryl Hachem & Zheng Michael Song, 2016. "Liquidity Rules and Credit Booms," NBER Working Papers 21880, National Bureau of Economic Research, Inc.
• Libero Monteforte & Giordano Zevi, 2016. "An inquiry into manufacturing capacity in Italy after the double-dip recession," Questioni di Economia e Finanza (Occasional Papers) 302, Bank of Italy, Economic Research and International Relations Area.
• Arito Ono & Kosuke Aoki & Shinichi Nishioka & Kohei Shintani & Yosuke Yasui, 2016. "Long-term interest rates and bank loan supply: Evidence from firm-bank loan-level data," Bank of Japan Working Paper Series 16-E-2, Bank of Japan.
• Item repec:bof:bofrdp:urn:nbn:fi:bof-201508131350 is not listed on IDEAS anymore

• Aurélien Goutsmedt, 2016. "The New Classical Explanation of the Stagflation: A Psychological Way of Thinking," Documents de travail du Centre d'Economie de la Sorbonne 16018, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
• Severin Bernhard, 2016. "A real-time GDP data set for Switzerland," Economic Studies 2016-09, Swiss National Bank.
• Rajnish Mehra & Arunima Sinha, 2016. "The Term Structure of Interest Rates in India," NBER Working Papers 22020, National Bureau of Economic Research, Inc.
• Chad Syverson, 2016. "Challenges to Mismeasurement Explanations for the U.S. Productivity Slowdown," NBER Working Papers 21974, National Bureau of Economic Research, Inc.
• Turhan, Ibrahim M. & Gumus, Nihat, 2014. "On the relative importance of monetary transmission channels in Turkey," MPRA Paper 69827, University Library of Munich, Germany, revised 12 May 2014.
• Nikhil Patel, 2016. "International Trade Finance and the Cost Channel of Monetary Policy in Open Economies," BIS Working Papers 539, Bank for International Settlements.
• Gerdie Everaert & Lorenzo Pozzi & Ruben Schoonackers, 2016. "On The Stability Of The Excess Sensitivity Of Aggregate Consumption Growth In The Us," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 16/917, Ghent University, Faculty of Economics and Business Administration.
• Waqas Ahmed & Sajawal Khan & Muhammad Rehman, 2016. "Optimal Monetary Policy in the Presence of Sizable Informal Sector and Firm Level Credit Constraint," SBP Working Paper Series 72, State Bank of Pakistan, Research Department.
• Daniele, Vittorio, 2015. "Una stagnazione secolare? Italia, Giappone, Stati Uniti, 1950-2015 [Towards a secular stagnation? Italy, Japan, United States, 1950-2015]," MPRA Paper 69997, University Library of Munich, Germany.
• Item repec:bof:bofitp:urn:nbn:fi:bof-201505201211 is not listed on IDEAS anymore

• Duwicquet, Vincent & Mazier, Jacques & Petit, Pascal & Saadaoui, Jamel, 2015. "The future of the euro," MPRA Paper 67690, University Library of Munich, Germany.
• 植杉, 威一郎 & 坂井, 功治, 2016. "日本企業の資金再配分," HIT-REFINED Working Paper Series 39, Institute of Economic Research, Hitotsubashi University.
• Gaetano Gaballo & Ramon Marimon, 2016. "Breaking the Spell with Credit-Easing: Self-Confirming Credit Crises in Competitive Search Economies," NBER Working Papers 22006, National Bureau of Economic Research, Inc.
• Item repec:bof:bofitp:urn:nbn:fi:bof-201511231446 is not listed on IDEAS anymore

• Makoto Nakajima & Didem Tuzemen, 2015. "Health-care reform or labor market reform? a quantitative analysis of the Affordable Care Act," Research Working Paper RWP 15-10, Federal Reserve Bank of Kansas City.
• Christopher S. Carpenter & Chandler B. McClellan & Daniel I. Rees, 2016. "Economic Conditions, Illicit Drug Use, and Substance Use Disorders in the United States," NBER Working Papers 22051, National Bureau of Economic Research, Inc.
• Quaas, Friedrun & Quaas, Georg, 2016. "Effekte des Kapitalmarktzinses auf die Preis- und Produktivitätsentwicklung: Eine Analyse der deutschen Volkswirtschaft 1970-2014," Working Papers 144, University of Leipzig, Faculty of Economics and Management Science.
• Item repec:bof:bofitp:urn:nbn:fi:bof-201506091268 is not listed on IDEAS anymore

• Alain Kabundi & Carike Claassen & Elsabé Loots, 2016. "Comovement Between Africa and Advanced Economies: 1980-2011," Working Papers 577, Economic Research Southern Africa.
• Kaiji Chen & Jue Ren & Tao Zha, 2016. "What We Learn from China's Rising Shadow Banking: Exploring the Nexus of Monetary Tightening and Banks' Role in Entrusted Lending," NBER Working Papers 21890, National Bureau of Economic Research, Inc.
• Item repec:bof:bofitp:urn:nbn:fi:bof-201503111109 is not listed on IDEAS anymore

• Razmi, Fatemeh & M., Azali & Chin, Lee & Habibullah, Muzafar Shah, 2015. "The effects of oil price and US economy on Thailand's macroeconomy: The role of monetary transmission mechanism," MPRA Paper 69096, University Library of Munich, Germany.
• Alessandro Dovis & Mikhail Golosov & Ali Shourideh, 2016. "Political Economy of Sovereign Debt: A Theory of Cycles of Populism and Austerity," NBER Working Papers 21948, National Bureau of Economic Research, Inc.
• Item repec:bof:bofrdp:urn:nbn:fi:bof-201511261452 is not listed on IDEAS anymore

• Andrea Bastianin & Marzio Galeotti & Matteo Manera, 2015. "The Impacts of Exogenous Oil Supply Shocks on Mediterranean Economies," Working Papers 2015.100, Fondazione Eni Enrico Mattei.
• Elizabeth Kasekende & John P. Dunne, 2016. "Financial Innovation and Money Demand: Evidence from Sub-Saharan Africa," Working Papers 583, Economic Research Southern Africa.
• Robert J. Barro & Gordon Y. Liao, 2016. "Options-Pricing Formula with Disaster Risk," NBER Working Papers 21888, National Bureau of Economic Research, Inc.
• Kano, Takashi & 加納, 隆, 2019. "Exchange Rates and Fundamentals: A General Equilibrium Exploration," Discussion paper series HIAS-E-19, Hitotsubashi Institute for Advanced Study, Hitotsubashi University.
• Hyeongwoo Kim & Jintae Kim, 2016. "Price Adjustment to the Exchange Rate Shock in World Commodity Markets," Auburn Economics Working Paper Series auwp2016-01, Department of Economics, Auburn University.
• Dovern, Jonas & Hartmann, Matthias, 2016. "Forecast Performance, Disagreement, and Heterogeneous Signal-to-Noise Ratios," Working Papers 0611, University of Heidelberg, Department of Economics.
• Jesús Fernández-Villaverde & Juan F. Rubio Ramírez & Frank Schorfheide, 2016. "Solution and Estimation Methods for DSGE Models," NBER Working Papers 21862, National Bureau of Economic Research, Inc.
• Item repec:unt:escsti:sti82 is not listed on IDEAS anymore

• Donadelli, Michael & Paradiso, Antonio & Riedel, Max, 2015. "A novel ex-ante leading indicator for the EU industrial production," SAFE Working Paper Series 118, Leibniz Institute for Financial Research SAFE.
• Gros, Daniel, 2015. "What signal from the Fed? Should the ECB ease further?," CEPS Papers 10940, Centre for European Policy Studies.
• David Lagakos & Benjamin Moll & Tommaso Porzio & Nancy Qian & Todd Schoellman, 2016. "Life-Cycle Human Capital Accumulation Across Countries: Lessons From U.S. Immigrants," NBER Working Papers 21914, National Bureau of Economic Research, Inc.
• Jeffrey Clemens, 2015. "The Minimum Wage and the Great Recession: Evidence from the Current Population Survey," NBER Working Papers 21830, National Bureau of Economic Research, Inc.
• Juan Manuel Julio & Norberto Rodríguez & Hector Zárate, 2005. "Estimating the COP Exchange Rate Volatility Smile and the Market Effect of Central Bank Interventions: A CHARN Approach," Borradores de Economia 347, Banco de la Republica de Colombia.
• Daniel K. Mengisteab & Johannes W. Fedderke, 2016. "Estimating South Africa’s Output Gap Potential Growth Rate," Working Papers 585, Economic Research Southern Africa.
• Davide Delle Monache & Ivan Petrella, 2016. "Adaptive models and heavy tails," Temi di discussione (Economic working papers) 1052, Bank of Italy, Economic Research and International Relations Area.
• Wolters, Maik H., 2016. "How the baby boomers' retirement wave distorts model-based output gap estimates," Kiel Working Papers 2031, Kiel Institute for the World Economy (IfW Kiel).
• Claudiu Tiberiu Albulescu & Christian Aubin & Daniel Goyeau, 2016. "Stock prices, inflation and inflation uncertainty in the U.S.: Testing the long-run relationship considering Dow Jones sector indexes," Working Papers hal-01282481, HAL.
• Juergen Jung & Chung Tran & Matthew Chambers, 2016. "Aging and Health Financing in the U.S. A General Equilibrium Analysis," Working Papers 2016-04, Towson University, Department of Economics, revised Apr 2017.
• Jasmin Thomas, 2016. "Explaining Industry Differences in IT Investment Per Worker Between Canada and the United States, 2002-2013," CSLS Research Reports 2016-01, Centre for the Study of Living Standards.
• Diewert, W. Erwin & Shimizu, Chihiro, 2016. "Hedonic Regression Models for Tokyo Condominium Sales," HIT-REFINED Working Paper Series 32, Institute of Economic Research, Hitotsubashi University.
• Asian Development Bank (ADB) & Asian Development Bank (ADB) & Asian Development Bank (ADB) & Asian Development Bank (ADB), 2015. "Financial Soundness Indicators for Financial Sector Stability in Georgia," ADB Reports RPT157600-2, Asian Development Bank (ADB).
• Chirwa, Themba G & Odhiambo, Nicholas M, 2016. "The drivers of real sector growth in Malawi: an empirical investigation," Working Papers 20037, University of South Africa, Department of Economics.
• Russell Cooper & Huacong Liu, 2016. "MisMatch in Human Capital Accumulation," NBER Working Papers 22010, National Bureau of Economic Research, Inc.
• Jos Jansen & Jasper de Winter, 2016. "Improving model-based near-term GDP forecasts by subjective forecasts: A real-time exercise for the G7 countries," DNB Working Papers 507, Netherlands Central Bank, Research Department.
• Hernán Rincón-Castro & Norberto Rodríguez-Niño, 2016. "Nonlinear Pass-Through of Exchange Rate Shocks on Inflation: A Bayesian Smooth Transition VAR Approach," Borradores de Economia 930, Banco de la Republica de Colombia.
• Mikhail Golosov & Aleh Tsyvinski & Nicolas Werquin, 2016. "Recursive Contracts and Endogenously Incomplete Markets," NBER Working Papers 22012, National Bureau of Economic Research, Inc.
• Shakhzod Ismailov & Makoto Kakinaka & Hiroaki Miyamoto, 2016. "Choice of inflation targeting: Some international evidence," Working Papers SDES-2016-2, Kochi University of Technology, School of Economics and Management, revised Mar 2016.
• Wahyoe Soedarmono & Sigid Eko Pramono & Amine Tarazi, 2016. "The procyclicality of loan loss provisions in Islamic banks: Do managerial discretions matter?," Working Papers hal-01281151, HAL.
• Item repec:bdi:opques:qef_303_15 is not listed on IDEAS anymore

• Donald B. Keim & Olivia S. Mitchell, 2016. "Simplifying Choices in Defined Contribution Retirement Plan Design," NBER Working Papers 21854, National Bureau of Economic Research, Inc.
• Stanley Fischer, 2016. "Reflections on Macroeconomics Then and Now : a speech at the \"Policy Challenges in an Interconnected World\" 32nd Annual National Association for Business Economics Economic Policy Conferen," Speech 892, Board of Governors of the Federal Reserve System (U.S.).
• Lars P. Hansen & Thomas J. Sargent, 2016. "Sets of Models and Prices of Uncertainty," NBER Working Papers 22000, National Bureau of Economic Research, Inc.
• Albertini, Julien & Lan, Hong, 2016. "The importance of time-varying parameters in new Keynesian models with zero lower bound," SFB 649 Discussion Papers 2016-013, Humboldt University Berlin, Collaborative Research Center 649: Economic Risk.