Report NEP-MAC-2017-02-26

This is the archive for NEP-MAC, a report on new working papers in the area of Macroeconomics. Soumitra Kumar 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:

• Julio A. Carrillo & Enrique G. Mendoza & Victoria Nuguer & Jessica Roldán-Peña, 2017, "Tight Money-Tight Credit: Coordination Failure in the Conduct of Monetary and Financial Policies," NBER Working Papers, National Bureau of Economic Research, Inc, number 23151, Feb.
• Rüth, Sebastian & Bachmann, Rüdiger, 2016, "Systematic Monetary Policy and the Macroeconomic Effects of Shifts in Loan-to-Value Ratios," VfS Annual Conference 2016 (Augsburg): Demographic Change, Verein für Socialpolitik / German Economic Association, number 145826.
• Schwanebeck, Benjamin & Palek, Jakob, 2016, "Optimal Monetary and Macroprudential Policy in a Currency Union," VfS Annual Conference 2016 (Augsburg): Demographic Change, Verein für Socialpolitik / German Economic Association, number 145520.
• Michael T. Belongia & Peter N. Ireland, 2017, "Circumventing the Zero Lower Bound with Monetary Policy Rules Based on Money," NBER Working Papers, National Bureau of Economic Research, Inc, number 23157, Feb.
• Raphael A. Auer & Andrei A. Levchenko & Philip U. Sauré, 2017, "International Inflation Spillovers Through Input Linkages," Working Papers, Swiss National Bank, number 2017-03.
• David Rezza Baqaee & Emmanuel Farhi, 2017, "The Macroeconomic Impact of Microeconomic Shocks: Beyond Hulten's Theorem," NBER Working Papers, National Bureau of Economic Research, Inc, number 23145, Feb.
• Ricardo M. Masolo & Francesca Monti, 2017, "Ambiguity, Monetary Policy and Trend Inflation," Discussion Papers, Centre for Macroeconomics (CFM), number 1709, Feb.
• André Kurmann & Eric Sims, 2017, "Revisions in Utilization-Adjusted TFP and Robust Identification of News Shocks," NBER Working Papers, National Bureau of Economic Research, Inc, number 23142, Feb.
• Francesca Rondina, 2017, "Model Uncertainty and the Direction of Fit of the Postwar U.S. Phillips Curve(s)," Working Papers, University of Ottawa, Department of Economics, number 1702E.
• Lein, Sarah Marit & Bäurle, Gregor & Lein, Sarah M. & Steiner, Elizabeth, 2016, "How large is the Financial Accelerator? Some Evidence from Firm-level Data," VfS Annual Conference 2016 (Augsburg): Demographic Change, Verein für Socialpolitik / German Economic Association, number 145600.
• Ciccarelli, Matteo & Osbat, Chiara, 2017, "Low inflation in the euro area: Causes and consequences," Occasional Paper Series, European Central Bank, number 181, Jan.
• Francis Leni Anguyo & Rangan Gupta & Kevin Kotze, 2017, "Monetary Policy and Financial Frictions in a Small Open-Economy Model for Uganda," Working Papers, University of Pretoria, Department of Economics, number 201710, Feb.
• Geiger, Martin & Scharler, Johann, 2016, "How do Macroeconomic Shocks affect Expectations? Lessons from Survey Data," VfS Annual Conference 2016 (Augsburg): Demographic Change, Verein für Socialpolitik / German Economic Association, number 145747.
• Andrew Fieldhouse & Karel Mertens & Morten O. Ravn, 2017, "The Macroeconomic Effects of Government Asset Purchases: Evidence from Postwar US Housing Credit Policy," NBER Working Papers, National Bureau of Economic Research, Inc, number 23154, Feb.
• David Berger & Joseph Vavra, 2017, "Shocks vs. Responsiveness: What Drives Time-Varying Dispersion?," NBER Working Papers, National Bureau of Economic Research, Inc, number 23143, Feb.
• Raphael Raduzzi & Antonio Ribba, 2017, "The Macroeconomics Outcome of Oil Shocks in the Small Eurozone Economies," Center for Economic Research (RECent), University of Modena and Reggio E., Dept. of Economics "Marco Biagi", number 127, Feb.
• Kyriakos T. Chousakos & Gary B. Gorton, 2017, "Bank Health Post-Crisis," NBER Working Papers, National Bureau of Economic Research, Inc, number 23167, Feb.
• Elena Andreou & Snezana Eminidou & Marios Zachariadis, 2017, "Inflation expectations and monetary policy surprises," University of Cyprus Working Papers in Economics, University of Cyprus Department of Economics, number 01-2017, Jan.
• Sergio Clavijo Vera & Alejandro Vera Sandoval & Nelson Vera Concha, 2015, "Política Monetaria: Reglas y Discreción," Revista Panorama Económico, Universidad de Cartagena, volume 0, issue 0, pages 1-8.
• Marko Melolinna, 2017, "What drives business investment in the United Kingdom? Results from a firm-level VAR approach," Bank of England working papers, Bank of England, number 646, Feb.
• Chatelain, Jean-Bernard & Ralf, Kirsten, 2017, "Can we Identify the Fed's Preferences?," MPRA Paper, University Library of Munich, Germany, number 76831, Feb.
• Mazelis, Falk, 2016, "The Role of Shadow Banking in the Monetary Transmission Mechanism and the Business Cycle," VfS Annual Conference 2016 (Augsburg): Demographic Change, Verein für Socialpolitik / German Economic Association, number 145763.
• Ahmet Benlialper & Hasan Cömert & Nadir Öcal, 2017, "Asymmetric Exchange Rate Policy in Inflation Targeting Developing Countries," ERC Working Papers, ERC - Economic Research Center, Middle East Technical University, number 1702, Feb, revised Feb 2017.
• Olivier Blanchard & Guido Lorenzoni & Jean-Paul L'Huillier, 2017, "Short-Run Effects of Lower Productivity Growth. A Twist on the Secular Stagnation Hypothesis," NBER Working Papers, National Bureau of Economic Research, Inc, number 23160, Feb.
• Breitenlechner, Maximilian & Scharler, Johann, 2016, "The Bank Lending Channel and the Market for Banks' Wholesale Funding," VfS Annual Conference 2016 (Augsburg): Demographic Change, Verein für Socialpolitik / German Economic Association, number 145679.
• Swamy, Vighneswara, 2017, "Wealth Effects and Macroeconomic Dynamics – Evidence from Indian Economy," MPRA Paper, University Library of Munich, Germany, number 76836, Feb.
• Stéphane Moyen & Josef Schroth, 2017, "Optimal Capital Regulation," Staff Working Papers, Bank of Canada, number 17-6, DOI: 10.34989/swp-2017-6.
• Philip Bunn & Jeanne Le Roux & Kate Reinold & Paolo Surico, 2017, "The consumption response to positive and negative income changes," Bank of England working papers, Bank of England, number 645, Feb.
• Krebs, Tom & Scheffel, Martin, 2016, "Labor Market Institutions and the Cost of Recessions," IZA Discussion Papers, Institute of Labor Economics (IZA), number 10442, Dec.
• Andersson, Fredrik N. G. & Jonung, Lars, 2017, "How Tolerant Should Inflation-Targeting Central Banks Be? Selecting the Proper Tolerance Band - Lessons from Sweden," Working Papers, Lund University, Department of Economics, number 2017:2, Feb.
• Item repec:san:cdmawp:1701 is not listed on IDEAS anymore

• Item repec:san:wpecon:1704 is not listed on IDEAS anymore

• Sjögren, Tomas, 2017, "Can a Marginally Distorted Labor Market Improve Capital Accumulation, Output and Welfare?," Umeå Economic Studies, Umeå University, Department of Economics, number 946, Feb.
• M. Ayhan Kose & Csilla Lakatos & Franziska Ohnsorge & Marc Stocker, 2017, "The Global Role of the U.S. Economy: Linkages, Policies and Spillovers," Koç University-TUSIAD Economic Research Forum Working Papers, Koc University-TUSIAD Economic Research Forum, number 1706, Mar.
• Klein, Mathias, 2016, "Austerity and Private Debt," VfS Annual Conference 2016 (Augsburg): Demographic Change, Verein für Socialpolitik / German Economic Association, number 145681.
• Christopher L. House & Christian Proebsting & Linda L. Tesar, 2017, "Austerity in the Aftermath of the Great Recession," NBER Working Papers, National Bureau of Economic Research, Inc, number 23147, Feb.
• María Dolores Gadea-Rivas & Ana Gómez-Loscos & Danilo Leiva-Leon, 2017, "The evolution of regional economic interlinkages in Europe," Working Papers, Banco de España, number 1705, Feb.
• Yunmin Chen & YiLi Chien & C.C. Yang, 2017, "Implementing the Modified Golden Rule? Optimal Ramsey Capital Taxation with Incomplete Markets Revisited," Working Papers, Federal Reserve Bank of St. Louis, number 2017-003, Feb, revised 01 Oct 2020, DOI: 10.20955/wp.2017.003.
• Julian di Giovanni & Sebnem Kalemli-Ozcan & Mehmet Fatih Ulu & Yusuf Soner Baskaya, 2017, "International Spillovers and Local Credit Cycles," NBER Working Papers, National Bureau of Economic Research, Inc, number 23149, Feb.
• Boone, Christopher & Dube, Arindrajit & Goodman, Lucas & Kaplan, Ethan, 2016, "Unemployment Insurance Generosity and Aggregate Employment," IZA Discussion Papers, Institute of Labor Economics (IZA), number 10439, Dec.
• Fatih Guvenen & Sam Schulhofer-Wohl & Jae Song & Motohiro Yogo, 2017, "Worker Betas: Five Facts about Systematic Earnings Risk," NBER Working Papers, National Bureau of Economic Research, Inc, number 23163, Feb.
• Andrew J. Fieldhouse & Karel Mertens, 2017, "A Narrative Analysis of Mortgage Asset Purchases by Federal Agencies," NBER Working Papers, National Bureau of Economic Research, Inc, number 23165, Feb.
• Sebastian Edwards, 2017, "Keynes and the Dollar in 1933," NBER Working Papers, National Bureau of Economic Research, Inc, number 23141, Feb.
• Link, Thomas & Neyer, Ulrike, 2016, "Transaction Cost Heterogeneity in the Interbank Market and Monetary Policy Implementation under alternative Interest Corridor Systems," VfS Annual Conference 2016 (Augsburg): Demographic Change, Verein für Socialpolitik / German Economic Association, number 145853.
• Francis Leni Anguyo & Rangan Gupta & Kevin Kotze, 2017, "Monetary Policy and Financial Frictions in a Small Open-Economy Model for Uganda," School of Economics Macroeconomic Discussion Paper Series, School of Economics, University of Cape Town, number 2017-01.
• David Fielding & Christopher Hajzler & James (Jim) C. MacGee, 2017, "Price-Level Dispersion versus Inflation-Rate Dispersion: Evidence from Three Countries," Staff Working Papers, Bank of Canada, number 17-3, DOI: 10.34989/swp-2017-3.
• Toni Beutler & Robert Bichsel & Adrian Bruhin & Jayson Danton, 2017, "The Impact of Interest Rate Risk on Bank Lending," Working Papers, Swiss National Bank, number 2017-04.
• Cobb, Marcus P A, 2017, "Joint Forecast Combination of Macroeconomic Aggregates and Their Components," MPRA Paper, University Library of Munich, Germany, number 76556, Feb.
• Aggarwal, Sakshi, 2017, "Determinants of Money Demand for India in Presence of Structural Break: An Empirical Analysis," MPRA Paper, University Library of Munich, Germany, number 76967, Jan.
• Mazzocchetti, Andrea & Raberto, Marco & Teglio, Andrea & Cincotti, Silvano, 2017, "Securitisation and Business Cycle: An Agent-Based Perspective," MPRA Paper, University Library of Munich, Germany, number 76760, Feb.
• Mayer, Eric & Maas, Daniel & Rüth, Sebastian, 2016, "Current Account Dynamics and the Housing Cycle in Spain," VfS Annual Conference 2016 (Augsburg): Demographic Change, Verein für Socialpolitik / German Economic Association, number 145824.
• Paul Corrigan, 2017, "Terms-of-Trade and House Price Fluctuations: A Cross-Country Study," Staff Working Papers, Bank of Canada, number 17-1, DOI: 10.34989/swp-2017-1.
• Julien Idier & Thibaut Piquard, 2017, "Pandemic crises in financial systems: a simulation-model to complement stress-testing frameworks," Working papers, Banque de France, number 621.
• Thorsten Beck & Steven Poelhekke, 2017, "Follow the money: Does the Financial Sector Intermediate Natural Resource Windfalls?," Tinbergen Institute Discussion Papers, Tinbergen Institute, number 17-027/VIII, Feb.
• Chatelain, Jean-Bernard & Ralf, Kirsten, 2017, "Publish and Perish: Creative Destruction and Macroeconomic Theory," MPRA Paper, University Library of Munich, Germany, number 76825, Feb.
• Ben Fung & Scott Hendry & Warren E. Weber, 2017, "Canadian Bank Notes and Dominion Notes: Lessons for Digital Currencies," Staff Working Papers, Bank of Canada, number 17-5, DOI: 10.34989/swp-2017-5.
• Soojin Jo & Rodrigo Sekkel, 2017, "Macroeconomic Uncertainty Through the Lens of Professional Forecasters," Working Papers, Federal Reserve Bank of Dallas, number 1702, Jan, DOI: 10.24149/wp1702.
• Junichi Fujimoto & Ko Munakata & Koji Nakamura & Yuki Teranishi, 2017, "Optimal Policy Analysis in a New Keynesian Economy with Credit Market Search," GRIPS Discussion Papers, National Graduate Institute for Policy Studies, number 16-30, Feb.
• Xavier Giroud & Holger M. Mueller, 2017, "Firms' Internal Networks and Local Economic Shocks," NBER Working Papers, National Bureau of Economic Research, Inc, number 23176, Feb.
• Winter, Christoph & Kraus, Beatrice, 2016, "Do Tax Changes Affect Credit Markets and Financial Frictions? Evidence from Credit Spreads," VfS Annual Conference 2016 (Augsburg): Demographic Change, Verein für Socialpolitik / German Economic Association, number 145636.
• Wix, Carlo & Schüwer, Ulrich, 2016, "Monetary Policy and Bank Lending: A Natural Experiment from the US Mortgage Market," VfS Annual Conference 2016 (Augsburg): Demographic Change, Verein für Socialpolitik / German Economic Association, number 145943.
• Wolters, Maik Hendrik, 2016, "How the Baby Boomers' Retirement Wave Distorts Model-Based Output Gap Estimates," VfS Annual Conference 2016 (Augsburg): Demographic Change, Verein für Socialpolitik / German Economic Association, number 145812.
• David M. Byrne & Carol Corrado, 2017, "ICT Asset Prices : Marshaling Evidence into New Measures," Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.), number 2017-016, Jan, DOI: 10.17016/FEDS.2017.016r1.
• Joshua K. Hausman & Paul W. Rhode & Johannes F. Wieland, 2017, "Recovery from the Great Depression: The Farm Channel in Spring 1933," NBER Working Papers, National Bureau of Economic Research, Inc, number 23172, Feb.
• Bauer, Anja & King, Ian Paul, 2016, "The Hartz Reforms, the German Miracle, and the Reallocation Puzzle," VfS Annual Conference 2016 (Augsburg): Demographic Change, Verein für Socialpolitik / German Economic Association, number 145702.
• Eric Rosengren, 2017, "Monetary policy as the economy approaches the Fed’s dual mandate: remarks at the New York Association for Business Economics, New York, New York, February 15, 2017," Speech, Federal Reserve Bank of Boston, number 114, Feb.
• Schlegel, Jonas & Watzka, Sebastian, 2016, "The Effect of the Household Balance Sheet on Unemployment – Evidence from Spanish Provinces," VfS Annual Conference 2016 (Augsburg): Demographic Change, Verein für Socialpolitik / German Economic Association, number 145911.
• Matthaei, Stephan & Stähler, Nikolai, 2016, "Macroeconomic implications of the German financial equalization system," VfS Annual Conference 2016 (Augsburg): Demographic Change, Verein für Socialpolitik / German Economic Association, number 145695.
• Kamiar Mohaddes & Mehdi Raissi, 2017, "Do Sovereign Wealth Funds Dampen the Negative Effects of Commodity Price Volatility?," Globalization Institute Working Papers, Federal Reserve Bank of Dallas, number 304, Feb, DOI: 10.24149/gwp304.
• Claire Giordano & Francesco Zollino, 2017, "Macroeconomic estimates of Italy's mark-ups in the long-run, 1861-2012," Quaderni di storia economica (Economic History Working Papers), Bank of Italy, Economic Research and International Relations Area, number 39, Feb.
• Colin C. Caines & Florian Hoffmann & Gueorgui Kambourov, 2017, "Complex-Task Biased Technological Change and the Labor Market," International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.), number 1192, Feb, DOI: 10.17016/IFDP.2017.1192.
• Schreiber, Sven & Beblo, Miriam, 2016, "Leisure and Housing Consumption after Retirement: New Evidence on the Life-Cycle Hypothesis," VfS Annual Conference 2016 (Augsburg): Demographic Change, Verein für Socialpolitik / German Economic Association, number 145924.
• Kocharkov, Georgi, 2016, "Teenage Childbearing and the Welfare State," VfS Annual Conference 2016 (Augsburg): Demographic Change, Verein für Socialpolitik / German Economic Association, number 145657.
• David M. Byrne & Carol Corrado, 2017, "ICT Services and their Prices: What do they tell us about Productivity and Technology?," Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.), number 2017-015, Feb, DOI: 10.17016/FEDS.2017.015r1.
• Cobb, Marcus P A, 2017, "Aggregate Density Forecasting from Disaggregate Components Using Large VARs," MPRA Paper, University Library of Munich, Germany, number 76849, Feb.
• Carlos Ramírez, 2017, "Firm Networks and Asset Returns," Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.), number 2017-014, Jan, DOI: 10.17016/FEDS.2017.014r1.
• Andreas Fagereng & Luigi Guiso & Luigi Pistaferri, 2017, "Firm-Related Risk and Precautionary Saving Response," NBER Working Papers, National Bureau of Economic Research, Inc, number 23182, Feb.
• Ludwig, Alexander & Geppert, Christian & Abiry, Raphael, 2016, "Secular Stagnation? Growth, Asset Returns and Welfare in the Next Decades," VfS Annual Conference 2016 (Augsburg): Demographic Change, Verein für Socialpolitik / German Economic Association, number 145764.
• Robert C. Feenstra & Mingzhi Xu & Alexis Antoniades, 2017, "What is the Price of Tea in China? Towards the Relative Cost of Living in Chinese and U.S. Cities," NBER Working Papers, National Bureau of Economic Research, Inc, number 23161, Feb.
• B. Camara & P. Pessarossi & T. Philippon, 2017, "Back-testing European stress tests," Débats Economiques et financiers, Banque de France, number 26.
• Adam Blandin, 2016, "Learning by Doing and Ben-Porath: Life-cycle Predictions and Policy Implications," Working Papers, VCU School of Business, Department of Economics, number 1604, Oct.
• Steger, Thomas Michael & Grossmann, Volker, 2016, "Das House-Kapital: A Theory of Wealth-to-Income Ratios," VfS Annual Conference 2016 (Augsburg): Demographic Change, Verein für Socialpolitik / German Economic Association, number 145936.
• José Ignacio González Giangrossi, 2016, "Agregados monetarios Divisia y demanda de dinero en Uruguay," Documentos de Trabajo (working papers), Department of Economics - dECON, number 0916, Oct.
• Milos Markovic & Michael A. Stemmer, 2017, "Firm Growth Dynamics and Financial Constraints: Evidence from Serbian Firms," Documents de travail du Centre d'Economie de la Sorbonne, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne, number 17012, Feb.
• Roger E.A. Farmer, 2017, "The End of Alchemy: A Review Essay," NBER Working Papers, National Bureau of Economic Research, Inc, number 23156, Feb.
• Martin Eichenbaum & Benjamin K. Johannsen & Sergio Rebelo, 2017, "Monetary Policy and the Predictability of Nominal Exchange Rates," NBER Working Papers, National Bureau of Economic Research, Inc, number 23158, Feb.
• Waldo Mendoza Bellido, 2016, "Una alternativa al IS-LM-AD-AS: El modelo IS-MR-AD-AS," Documentos de Trabajo / Working Papers, Departamento de Economía - Pontificia Universidad Católica del Perú, number 2016-433.
• Inna S. Lola, 2017, "The Statistical Measurement of Business Conditions for Small Entrepreneurs," HSE Working papers, National Research University Higher School of Economics, number WP BRP 71/STI/2017.
• Amylkar Acosta Medina, 2015, "El desequilibrio de poderes," Revista Panorama Económico, Universidad de Cartagena, volume 0, issue 0, pages 1-8.
• Jean Lacroix & Pierre-Guillaume Méon & Khalid Sekkat, 2017, "Do democratic transitions attract foreign investors and how fast?," Working Papers CEB, ULB -- Universite Libre de Bruxelles, number 17-006, Feb.
• Tony Chernis & Rodrigo Sekkel, 2017, "A Dynamic Factor Model for Nowcasting Canadian GDP Growth," Staff Working Papers, Bank of Canada, number 17-2, DOI: 10.34989/swp-2017-2.
• Nir Jaimovich & Henry E. Siu, 2017, "High-Skilled Immigration, STEM Employment, and Non-Routine-Biased Technical Change," NBER Working Papers, National Bureau of Economic Research, Inc, number 23185, Feb.
• Pamela Lenton & Mike Masiye & Paul Mosley, 2017, "Taxpayer’s dilemma: how can ‘fiscal contracts’ work in developing countries?," Working Papers, The University of Sheffield, Department of Economics, number 2017004, Jan.
• Leone, Tiziana & Coast, Ernestina & Parmar, Divya & Vwalika, Bellington, 2016, "The individual level cost of pregnancy termination in Zambia: a comparison of safe and unsafe abortion," LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library, number 64716, Sep.
• Ulrich K. Müller & Mark W. Watson, 2017, "Long-Run Covariability," NBER Working Papers, National Bureau of Economic Research, Inc, number 23186, Feb.
• Kim Huynh & Philipp Schmidt-Dengler & Gregor W. Smith & Angelika Welte, 2017, "Adoption Costs of Financial Innovation: Evidence from Italian ATM Cards," Staff Working Papers, Bank of Canada, number 17-8, DOI: 10.34989/swp-2017-8.
• Emmanuel Farhi & Ivan Werning, 2017, "Monetary Policy, Bounded Rationality, and Incomplete Markets," Working Paper, Harvard University OpenScholar, number 503421, Jan.
• Janet L. Yellen, 2017, "The Goals of Monetary Policy and How We Pursue Them : a speech at the Commonwealth Club, San Francisco, California, January 18, 2017," Speech, Board of Governors of the Federal Reserve System (U.S.), number 934, Jan.
• Zizza, Roberta & Adamopoulou, Effrosyni, 2017, "Regular versus lump-sum payments in union contracts and household consumption," Working Paper Series, European Central Bank, number 2013, Feb.

Report NEP-MAC-2017-02-26

This is the archive for NEP-MAC, a report on new working papers in the area of Macroeconomics. Soumitra Kumar Mallick issued this report. It is usually issued weekly.

Subscribe to this report: email, RSS, or Mastodon, or Bluesky.

Other reports in NEP-MAC

The following items were announced in this report: