Report NEP-MAC-2017-07-23

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:

• Gerke, Rafael & Giesen, Sebastian & Kienzler, Daniel & Tenhofen, Jörn, 2017. "Interest-rate pegs, central bank asset purchases and the reversal puzzle," Discussion Papers 21/2017, Deutsche Bundesbank.
• Maddalena Galardo & Cinzia Guerrieri, 2017. "The effects of central bank’s verbal guidance: evidence from the ECB," Temi di discussione (Economic working papers) 1129, Bank of Italy, Economic Research and International Relations Area.
• Nadim Ahmad & Jennifer Ribarsky & Marshall Reinsdorf, 2017. "Can potential mismeasurement of the digital economy explain the post-crisis slowdown in GDP and productivity growth?," OECD Statistics Working Papers 2017/9, OECD Publishing.
• Guido Bulligan & Lorenzo Burlon & Davide Delle Monache & Andrea Silvestrini, 2017. "Real and financial cycles: estimates using unobserved component models for the Italian economy," Questioni di Economia e Finanza (Occasional Papers) 382, Bank of Italy, Economic Research and International Relations Area.
• Guido Bulligan & Fabio Busetti & Michele Caivano & Pietro Cova & Davide Fantino & Alberto Locarno & Lisa Rodano, 2017. "The Bank of Italy econometric model: an update of the main equations and model elasticities," Temi di discussione (Economic working papers) 1130, Bank of Italy, Economic Research and International Relations Area.
• Kenza Benhima & Céline Poilly, 2017. "Do Misperceptions about Demand Matter? Theory and Evidence," Cahiers de Recherches Economiques du Département d'économie 17.08, Université de Lausanne, Faculté des HEC, Département d’économie.
• Forbes, Kristin & Hjortsoe, Ida & Nenova, Tsvetelina, 2017. "Shocks versus structure: explaining differences in exchange rate pass-through across countries and time," Discussion Papers 50, Monetary Policy Committee Unit, Bank of England.
• Annette Meinusch, 2017. "When the Fed sneezes - Spillovers from U.S. Monetary Policy to Emerging Markets," MAGKS Papers on Economics 201730, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
• Jean-Francois Carpantier & Javier Olivera & Philippe Van Kerm, 2017. "Macroprudential policy and household wealth inequality," Working Papers 442, ECINEQ, Society for the Study of Economic Inequality.
• Atsushi Sekine & Takayuki Tsuruga, 2017. "Effects of commodity price shocks on inflation: A cross-country analysis," CAMA Working Papers 2017-45, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
• Michael Boutros & Jonathan Witmer, 2017. "Monetary Policy Implementation in a Negative Rate Environment," Staff Working Papers 17-25, Bank of Canada.
• James Morley & Benjamin Wong, 2017. "Estimating and accounting for the output gap with large Bayesian vector autoregressions," CAMA Working Papers 2017-46, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
• Gerke, Rafael & Hauzenberger, Klemens, 2017. "The Fisher paradox: A primer," Discussion Papers 20/2017, Deutsche Bundesbank.
• Razmi, Fatemeh & M., Azali & Chin, Lee & Habibullah, Muzafar Shah, 2017. "How Does Monetary Policy Affect Economic Vulnerability to Oil Price Shock as against US Economy Shock?," MPRA Paper 79079, University Library of Munich, Germany.
• Antonio Diez de los Rios & Maral Shamloo, 2017. "Quantitative Easing and Long-Term Yields in Small Open Economies," Staff Working Papers 17-26, Bank of Canada.
• Ellahie, Atif & Ricco, Giovanni, 2017. "Government Purchases Reloaded : Informational Insufficiency and Heterogeneity in Fiscal VARs," The Warwick Economics Research Paper Series (TWERPS) 1138, University of Warwick, Department of Economics.
• Gambacorta, Leonardo & Altunbas, Yener & Binici, Mahir, 2017. "Macroprudential policy and bank risk," CEPR Discussion Papers 12138, C.E.P.R. Discussion Papers.
• Kovačić, Zlatko & Vilotić, Miloš, 2017. "Assessing European business cycles synchronization," MPRA Paper 79990, University Library of Munich, Germany.
• Ngotran, Duong, 2017. "The E-Monetary Theory," MPRA Paper 80207, University Library of Munich, Germany.
• Steven Ongena & Ibolya Schindele & Dzsamila Vonnák, 2017. "In Lands of Foreign Currency Credit, Bank Lending Channels Run Through?," MNB Working Papers 2017/6, Magyar Nemzeti Bank (Central Bank of Hungary).
• International Monetary Fund, 2017. "Germany; 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Germany," IMF Staff Country Reports 17/192, International Monetary Fund.
• Rangan Gupta & Marian Risse & David A. Volkman & Mark E. Wohar, 2017. "The Role of Term Spread and Pattern Changes in Predicting Stock Returns and Volatility of the United Kingdom: Evidence from a Nonparametric Causality-in-Quantiles Test Using Over 250 Years of Data," Working Papers 201755, University of Pretoria, Department of Economics.
• Melisso Boschi & Stefano d'Addona, 2017. "The stability of tax elasticities over the business cycle in European countries," CAMA Working Papers 2017-44, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
• Russell Wong & Cathy Zhang & Guillaume Rocheteau, 2017. "Lending Relationships, Banking Crises and Optimal Monetary Policies," 2017 Meeting Papers 152, Society for Economic Dynamics.
• International Monetary Fund, 2017. "Czech Republic; 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Czech Republic," IMF Staff Country Reports 17/168, International Monetary Fund.
• László Békési & Lorant Kaszab & Szabolcs Szentmihályi, 2017. "The EAGLE model for Hungary - a global perspective," MNB Working Papers 2017/7, Magyar Nemzeti Bank (Central Bank of Hungary).
• Olivier Coibion & Yuriy Gorodnichenko & Mauricio Ulate, 2017. "The Cyclical Sensitivity in Estimates of Potential Output," NBER Working Papers 23580, National Bureau of Economic Research, Inc.
• Efraim Benmelech & Adam Guren & Brian T. Melzer, 2017. "Making the House a Home: The Stimulative Effect of Home Purchases on Consumption and Investment," NBER Working Papers 23570, National Bureau of Economic Research, Inc.
• Alessandro Borin & Virginia Di Nino & Michele Mancini & Massimo Sbracia, 2017. "The cyclicality of the income elasticity of trade," Temi di discussione (Economic working papers) 1126, Bank of Italy, Economic Research and International Relations Area.
• Corsetti, Giancarlo & Mavroeidi, Eleonora & Thwaites, Gregory & Wolf, Martin, 2017. "Step away from the zero lower bound: small open economies in a world of secular stagnation," Bank of England working papers 666, Bank of England.
• International Monetary Fund, 2017. "Nicaragua; 2017 Article IV Consultation-Press Release; and Staff Report," IMF Staff Country Reports 17/173, International Monetary Fund.
• International Monetary Fund, 2017. "Peru; 2017 Article IV Consultation-Press Release; and Staff Report," IMF Staff Country Reports 17/166, International Monetary Fund.
• Juan Carlos Conesa & Timothy J. Kehoe, 2017. "Productivity, Taxes, and Hours Worked in Spain: 1970–2015," NBER Working Papers 23592, National Bureau of Economic Research, Inc.
• Mihov, Ilian & Heipertz, Jonas & Santacreu, Ana, 2017. "The Exchange Rate as an Instrument of Monetary Policy," CEPR Discussion Papers 12137, C.E.P.R. Discussion Papers.
• Martin Seneca, 2017. "Risk Shocks Close to the Zero Lower Bound," 2017 Meeting Papers 107, Society for Economic Dynamics.
• Ravazzolo, Francesco & Vespignani, Joaquin, 2017. "World steel production: A new monthly indicator of global real economic activity," Working Papers 2017-08, University of Tasmania, Tasmanian School of Business and Economics.
• Saskia ter Ellen & Cars H. Hommes & Remco C.J. Zwinkels, 2017. "Comparing behavioural heterogeneity across asset classes," Working Paper 2017/12, Norges Bank.
• Luca Fornaro, 2017. "Aggregate Demand Externalities in a Global Liquidity Trap," 2017 Meeting Papers 139, Society for Economic Dynamics.
• International Monetary Fund, 2017. "St. Kitts and Nevis; 2017 Article IV Consultation- Press Release; Staff Report," IMF Staff Country Reports 17/186, International Monetary Fund.
• Mirko Djukic & Tibor Hledik & Jiri Polansky & Ljubica Trajcev & Jan Vlcek, 2017. "A DSGE Model with Financial Dollarization - the Case of Serbia," Working Papers 2017/02, Czech National Bank.
• Seppo Honkapohja & Kaushik Mitra & George Evans, 2017. "Expectations, Stagnation and Fiscal Policy," 2017 Meeting Papers 160, Society for Economic Dynamics.
• Podlich, Natalia & Schnabel, Isabel & Tischer, Johannes, 2017. "Banks' trading after the Lehman crisis: The role of unconventional monetary policy," Discussion Papers 19/2017, Deutsche Bundesbank.
• Sebastian Di Tella, 2017. "Optimal Regulation of Financial Intermediaries," NBER Working Papers 23586, National Bureau of Economic Research, Inc.
• International Monetary Fund, 2017. "Cameroon; Request for a Three-Year Arrangement Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Cameroon," IMF Staff Country Reports 17/185, International Monetary Fund.
• International Monetary Fund, 2017. "Republic of Latvia; 2017 Article IV Consultation-Press Release; Staff Report," IMF Staff Country Reports 17/194, International Monetary Fund.
• Link, Thomas & Neyer, Ulrike, 2017. "Friction-induced interbank rate volatility under alternative interest corridor systems," DICE Discussion Papers 259, Heinrich Heine University Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).
• International Monetary Fund, 2017. "Russian Federation; 2017 Article IV Consultation-Press Release; Staff Report," IMF Staff Country Reports 17/197, International Monetary Fund.
• Gabriel Chodorow-Reich, 2017. "Geographic Cross-Sectional Fiscal Spending Multipliers: What Have We Learned?," NBER Working Papers 23577, National Bureau of Economic Research, Inc.
• Christian Groth & Jakub Growiec, 2017. "Do MincerianWage Equations Inform How Schooling Influences Productivity?," Discussion Papers 17-12, University of Copenhagen. Department of Economics.
• Leonardo Melosi & Francesco Bianchi, 2017. "The Dire Effects of the Lack of Monetary and Fiscal Coordination," 2017 Meeting Papers 110, Society for Economic Dynamics.
• Simon Mongey, 2017. "Market Structure and Monetary Non-Neutrality," 2017 Meeting Papers 184, Society for Economic Dynamics.
• Ivo Krznar & Troy D Matheson, 2017. "Towards Macroprudential Stress Testing; Incorporating Macro-Feedback Effects," IMF Working Papers 17/149, International Monetary Fund.
• Checo, Ariadne & Mejía, Mariam & Ramírez, Francisco A., 2017. "El rol de los regímenes de precipitaciones sobre la dinámica de precios y actividad del sector agropecuario de la República Dominicana durante el período 2000-2016 [The role of rainfall regimes on ," MPRA Paper 80301, University Library of Munich, Germany.
• International Monetary Fund, 2017. "United Republic of Tanzania; Sixth Review Under the Policy Support Instrument and Request for a Six-Month Extension of the Policy Support Instrument-Press Release; Staff Report; and Statement by the E," IMF Staff Country Reports 17/180, International Monetary Fund.
• Miho Sunaga, 2017. "Capital Adequacy Requirements and Financial Frictions in a Neoclassical Growth Model," Discussion Papers in Economics and Business 17-21, Osaka University, Graduate School of Economics.
• Radek Stefanski, 2017. "Velocity in the Long Run: Money and Structural Transformation," 2017 Meeting Papers 168, Society for Economic Dynamics.
• International Monetary Fund, 2017. "Central African Economic and Monetary Community (CEMAC); Staff Report on the Common Policies in Support of Member Countries Reform Programs," IMF Staff Country Reports 17/176, International Monetary Fund.
• Diana Zigraiova & Petr Jakubik, 2017. "Updating the Ultimate Forward Rate over Time: A Possible Approach," Working Papers 2017/03, Czech National Bank.
• Aiginger, Karl & Handler, Heinz, 2017. "Europe taking the lead in responsible globalisation," Economics Discussion Papers 2017-42, Kiel Institute for the World Economy (IfW Kiel).
• Tigran Poghosyan, 2017. "Cross-Country Spillovers of Fiscal Consolidations in the Euro Area," IMF Working Papers 17/140, International Monetary Fund.
• Jesper Lindé & Andrea Pescatori, 2017. "The Macroeconomic Effects of Trade Tariffs; Revisiting the Lerner Symmetry Result," IMF Working Papers 17/151, International Monetary Fund.
• International Monetary Fund, 2017. "Seychelles; 2017 Article IV Consultation and Sixth Review Under the Extended Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Seychelles," IMF Staff Country Reports 17/160, International Monetary Fund.
• International Monetary Fund, 2017. "Guyana; 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Guyana," IMF Staff Country Reports 17/175, International Monetary Fund.
• Vidya Sukumara Panicker & Sumit Mitra & Rajesh Srinivas Upadhyayula, 2018. "Ownership in Emerging Market Firms and International investments: Board independence and CEO duality as Moderators," Working papers 252, Indian Institute of Management Kozhikode.
• International Monetary Fund, 2017. "Norway; 2017 Article IV Consultation-Press Release; and Staff Report," IMF Staff Country Reports 17/182, International Monetary Fund.
• International Monetary Fund, 2017. "Kingdom of the Netherlands - Aruba; 2017 Article IV Consultation-Press Release and Staff Report," IMF Staff Country Reports 17/155, International Monetary Fund.
• Forni, Mario & Gambetti, Luca & Sala, Luca, 2017. "News, Uncertainty and Economic Fluctuations," CEPR Discussion Papers 12139, C.E.P.R. Discussion Papers.
• Cortez, Willy W. & Islas-Camargo, Alejandro, 2017. "Delincuencia, Pobreza y Crecimiento Económico en México, ¿existe una relación asimétrica? [Delinquency, Poverty and Economic Growth in Mexico, is there an asymmetric relationship?]," MPRA Paper 80258, University Library of Munich, Germany, revised May 2017.
• International Monetary Fund, 2017. "Vietnam; 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Vietnam," IMF Staff Country Reports 17/190, International Monetary Fund.
• António Afonso & Mina Kazemi, 2017. "Euro area sovereign yields and the power of QE," Working Papers Department of Economics 2017/12, ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa.
• International Monetary Fund, 2017. "Sierra Leone; Request for a Three-Year Arrangement Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Sierra Leone," IMF Staff Country Reports 17/154, International Monetary Fund.
• International Monetary Fund, 2017. "Denmark; 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Denmark," IMF Staff Country Reports 17/158, International Monetary Fund.
• Bak, Céline & Bhattacharya, Amar & Edenhofer, Ottmar & Knopf, Brigitte, 2017. "Towards a comprehensive approach to climate policy, sustainable infrastructure, and finance," Economics Discussion Papers 2017-41, Kiel Institute for the World Economy (IfW Kiel).
• Nikki Panjer & Leo de Haan & Jan Jacobs, 2017. "Is fiscal policy in the euro area Ricardian?," DNB Working Papers 562, Netherlands Central Bank, Research Department.
• International Monetary Fund, 2017. "Costa Rica; 2017 Article IV Consultation-Press Release; and Staff Report," IMF Staff Country Reports 17/156, International Monetary Fund.
• International Monetary Fund, 2017. "Cote d'Ivoire; First Reviews Under Extended Arrangement Under the Extended Fund Facility and an Arrangement Under the Extended Credit Facility, and Requests for Modification of Performance Criteria an," IMF Staff Country Reports 17/165, International Monetary Fund.
• Strulik, Holger, 2017. "Smoking kills: An economic theory of addiction, health deficit accumulation, and longevity," University of Göttingen Working Papers in Economics 316, University of Goettingen, Department of Economics.
• Emanuele Russo, 2017. "Harrodian instability in decentralized economies: an agent-based approach," LEM Papers Series 2017/17, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
• International Monetary Fund, 2017. "Ireland; 2017 Article IV Consultation-Press Release; and Staff Report," IMF Staff Country Reports 17/171, International Monetary Fund.
• Germán Gutiérrez & Thomas Philippon, 2017. "Declining Competition and Investment in the U.S," NBER Working Papers 23583, National Bureau of Economic Research, Inc.
• International Monetary Fund, 2017. "Republic of Lithuania; 2017 Article IV Consultation-Press Release and Staff Report," IMF Staff Country Reports 17/177, International Monetary Fund.
• International Monetary Fund, 2017. "Iceland; 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Iceland," IMF Staff Country Reports 17/163, International Monetary Fund.
• International Monetary Fund, 2017. "South Africa; 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for South Africa," IMF Staff Country Reports 17/189, International Monetary Fund.
• Christine Whitehead & Peter Williams, 2017. "Changes in the regulation and control of mortgage markets and access to owner-occupation among younger households," OECD Social, Employment and Migration Working Papers 196, OECD Publishing.
• Anil Savio Kavuri & Warwick J. McKibbin, 2017. "Technology and leisure: Macroeconomic Implications," CAMA Working Papers 2017-43, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
• Viacheslav Sheremirov & Thuy Lan Nguyen & Wataru Miyamoto, 2017. "The Effects of Government Spending on Real Exchange Rates: Evidence from Military Spending Panel Data," 2017 Meeting Papers 117, Society for Economic Dynamics.
• Stella Xiuhua Huangfu & Hongfei Sun & Chenggang Zhou & Mei Dong, 2017. "A Macroeconomic Theory of Banking Oligopoly," 2017 Meeting Papers 191, Society for Economic Dynamics.
• International Monetary Fund, 2017. "Republic of Poland; Technical Assistance Report-Developing a Medium-Term Budget Framework," IMF Staff Country Reports 17/170, International Monetary Fund.
• Giovanni D'Alessio, 2017. "Well-being, the socio-economic context and price differences: the North-South gap," Questioni di Economia e Finanza (Occasional Papers) 385, Bank of Italy, Economic Research and International Relations Area.
• DOMBOU T., Dany R., 2017. "Liberté économique et entrepreneuriat en ASS : une approche par le genre [Economic freedom and entrepreneurship in SSA: a gender approach]," MPRA Paper 80242, University Library of Munich, Germany.
• Kinghan, Christina & Lyons, Paul & McCarthy, Yvonne & O'Toole, Conor, 2017. "Macroprudential Measures and Irish Mortgage Lending: An Overview of Lending in 2016," Economic Letters 06/EL/17, Central Bank of Ireland.
• Zachary Bethune & Tai-Wei Hu & Guillaume Rocheteau, 2017. "Online Appendix to "Optimal Credit Cycles"," Online Appendices 17-63, Review of Economic Dynamics.