Report NEP-MAC-2020-01-27

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:

• Patrick J. Kehoe & Pierlauro Lopez & Virgiliu Midrigan & Elena Pastorino, 2019. "Asset Prices and Unemployment Fluctuations," NBER Working Papers 26580, National Bureau of Economic Research, Inc.
• Bossone, Biagio & Cuccia, Andrea, 2020. "The portfolio theory of inflation and policy (in)effectiveness revisited: Corroborating evidence," Economics Discussion Papers 2020-2, Kiel Institute for the World Economy (IfW Kiel).
• William Chen & Gregory Phelan, 2020. "Should Monetary Policy Target Financial Stability?," Department of Economics Working Papers 2020-01, Department of Economics, Williams College.
• Òscar Jordà & Sanjay R. Singh & Alan M. Taylor, 2020. "The Long-Run Effects of Monetary Policy," Working Paper Series 2020-01, Federal Reserve Bank of San Francisco.
• Piotr Zoch, 2019. "Macroprudential and monetary policy rules in a model with collateral constraints," GRAPE Working Papers 37, GRAPE Group for Research in Applied Economics.
• Giovanni Dosi & Mauro Napoletano & Andrea Roventini & Tania Treibich, 2019. "Debunking the granular origins of aggregate fluctuations: from real business cycles back to Keynes," Sciences Po publications info:hdl:2441/1p3k1810c89, Sciences Po.
• Liang Wang & Randall Wright & Lucy Qian Liu, 2020. "Sticky Prices and Costly Credit," Working Papers 202001, University of Hawaii at Manoa, Department of Economics.
• Victor Pontines, 2020. "The real effects of loan-to-value limits: Empirical evidence from Korea," CAMA Working Papers 2020-02, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
• Javier Andrés & Pablo Burriel & Wenyi Shen, 2020. "Debt sustainability and fiscal space in a heterogeneous Monetary Union: normal times vs the zero lower bound," Working Papers 2001, Banco de España.
• Herkenhoff, Kyle & Raveendranathan, Gajendran, 2019. "Who Bears the Welfare Costs of Monopoly? The Case of the Credit Card Industry," IZA Discussion Papers 12836, Institute of Labor Economics (IZA).
• Michal Hlavacek & Ilgar Ismayilov & Ayaz Zeynalov, 2020. "Reassessment of the Fiscal Multiplier in Developing Countries: Regime-Switching Model," Working Papers IES 2020/4, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Apr 2020.
• Ales Bulir & Jan Vlcek, 2019. "Monetary Policy Is Not Always Systematic and Data-Driven: Evidence from the Yield Curve," Working Papers 2019/3, Czech National Bank.
• Lucio Gobbi & Ronny Mazzocchi & Roberto Tamborini, 2019. "Monetary Policy, rational confidence, and Neo- Fisherian depressions," DEM Working Papers 2019/19, Department of Economics and Management.
• Tripathi, Sabyasachi, 2019. "Macroeconomic Determinants of Housing Prices: A Cross Country Level Analysis," MPRA Paper 98089, University Library of Munich, Germany.
• Felipe , Jesus & McCombie, John, 2019. "The Illusions of Calculating Total Factor Productivity and Testing Growth Models: From Cobb–Douglas to Solow and Romer," ADB Economics Working Paper Series 596, Asian Development Bank.
• Aizenman, Joshua & Jinjarak, Yothin & Nguyen, Hien Thi Kim & Park, Donghyun, 2019. "Fiscal Space and Increasing Fiscal Resilience," ADB Economics Working Paper Series 582, Asian Development Bank.
• Cummins, Matthew, 2019. "The Macroeconomic and Social Investment Outlook for Children in Eastern and Southern Africa," MPRA Paper 97734, University Library of Munich, Germany.
• Gu, Ran, 2019. "Specific Human Capital and Real Wage Cyclicality: An Application to Postgraduate Wage Premium," MPRA Paper 98027, University Library of Munich, Germany.
• Demir, Ishak & Eroglu, Burak A. & Yildirim-Karaman, Secil, 2021. "Heterogeneous effects of unconventional monetary policy on bond yields across the euro area," LEAF Working Paper Series 19-06, University of Lincoln, Lincoln International Business School, Lincoln Economics and Finance Research Group (LEAF), revised 2021.
• Nuno Cassola & Christoffer Kok & Francesco Paolo Mongelli, 2019. "The ECB after the crisis: existing synergies among monetary policy, macroprudential policies and banking supervision," Working Papers 424, University of Milano-Bicocca, Department of Economics, revised Dec 2019.
• Giovanni Dosi & Marcelo Pereira & Andrea Roventini & Maria Enrica Virgillito, 2018. "Causes et consequences of hysteresis : aggregate demand, productivity and employment," Sciences Po publications info:hdl:2441/hiaqa97n684, Sciences Po.
• Park, Donghyun & Shin, Kwanho & Tian, Shu, 2019. "Debt and Depth of Recessions," ADB Economics Working Paper Series 579, Asian Development Bank.
• Tanweer Akram & Anupam Das, 2020. "The Empirics of Canadian Government Securities Yields," Economics Working Paper Archive wp_944, Levy Economics Institute.
• Szilard Benk & Max Gillman, 2019. "Granger Predictability of Oil Prices after the Great Recession," CERGE-EI Working Papers wp650, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
• International Monetary Fund, 2019. "Liberia; Request for a Four-Year Arrangement Under the Extended Credit Facility-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Liberia," IMF Staff Country Reports 19/381, International Monetary Fund.
• Selien De Schryder & Frederic Opitz, 2019. "Macroprudential policy and its impact on the Credit Cycle," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 19/990, Ghent University, Faculty of Economics and Business Administration.
• Bruce Preston, 2020. "The case for reform of the RBA's policy and communication strategy," CAMA Working Papers 2020-03, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
• Cláudia Duarte & José R. Maria & Sharmin Sazedj, 2019. "Trends and cycles under changing economic conditions," Working Papers w201918, Banco de Portugal, Economics and Research Department.
• Kim, Soyoung, 2019. "Macroprudential Policy in Asian Economies," ADB Economics Working Paper Series 577, Asian Development Bank.
• Davide Debortoli & Ricardo Nunes & Pierre Yared, 2019. "Optimal fiscal policy without commitment: Revisiting Lucas-Stokey," Economics Working Papers 1687, Department of Economics and Business, Universitat Pompeu Fabra, revised Sep 2020.
• International Monetary Fund, 2019. "Republic of Georgia; Fifth Review Under the Extended Arrangement, Requests for Waivers of Nonobservance of Performance Criteria, Modification of Performance Criteria, and an Extension of the Arrangeme," IMF Staff Country Reports 19/372, International Monetary Fund.
• International Monetary Fund, 2019. "Gabon; 2019 Article IV Consultation, Fourth and Fifth Reviews under the Extended Arrangement under the Extended Fund Facility, and Request for Waiver of Nonobservance of Performance Criteria, and Reph," IMF Staff Country Reports 19/389, International Monetary Fund.
• Patnaik , Ila & Pundit, Madhavi, 2019. "Financial Shocks and Exchange Market Pressure," ADB Economics Working Paper Series 581, Asian Development Bank.
• Zhifeng Cai, 2020. "Secular Stagnation, Financial Frictions, and Land Prices," Departmental Working Papers 202001, Rutgers University, Department of Economics.
• Makoto Nakajima, 2020. "Capital Income Taxation with Housing," Working Papers 20-02, Federal Reserve Bank of Philadelphia.
• Ernesto Pasten & Raphael Schoenle & Michael Weber, 2020. "Price Rigidity and the Granular Origins of Aggregate Fluctuations," Working Papers Central Bank of Chile 864, Central Bank of Chile.
• Andrea Carriero & Todd E. Clark & Massimiliano Marcellino, 2020. "Capturing Macroeconomic Tail Risks with Bayesian Vector Autoregressions," Working Papers 20-02R, Federal Reserve Bank of Cleveland, revised 22 Sep 2020.
• Igor Ljubaj, 2020. "International Reserves, Exchange Rate Differences and the CNB’s Financial Result," Surveys 38, The Croatian National Bank, Croatia.
• Régis Barnichon & Davide Debortoli & Christian Matthes, 2019. "Understanding the size of the government spending multiplier: It’s in the sign," Economics Working Papers 1688, Department of Economics and Business, Universitat Pompeu Fabra, revised Sep 2020.
• Hansen, Stephen & McMahon, Michael & Tong, Matthew, 2020. "The long-run information effect of central bank communication," Working Paper Series 2363, European Central Bank.
• International Monetary Fund, 2019. "Central African Economic and Monetary Community (CEMAC); Staff Report on the Common Policies in Support of Member Countries Reform Programs-Press Release, Staff Report, and Statement by the Executive ," IMF Staff Country Reports 19/383, International Monetary Fund.
• Zhang, Lu, 2019. "Q-factors and Investment CAPM," Working Paper Series 2019-30, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
• Patrick T. Harker, 2020. "Monetary Policy Normalization: Low Interest Rates and the New Normal," Speech 87370, Federal Reserve Bank of Philadelphia.
• Christophe Blot & Jérôme Creel & Xavier Ragot, 2019. "The Euro at 20: a critical assessment," Sciences Po publications info:hdl:2441/5vh68vsbm9a, Sciences Po.
• Ettore Panetti & Edoardo M. Acabbi, 2019. "The Financial Channels of Labor Rigidities: Evidence from Portugal," Working Papers w201915, Banco de Portugal, Economics and Research Department.
• International Monetary Fund, 2019. "Iceland; 2019 Article IV Consultation-Press Release and Staff Report," IMF Staff Country Reports 19/375, International Monetary Fund.
• Vugar Rahimov & Nijat Guliyev & Vugar Ahmadov, 2020. "Modeling Azerbaijan’s Inflation and Output Using a Factor-Augmented Vector Autoregressive (FAVAR) Model," IHEID Working Papers 01-2020, Economics Section, The Graduate Institute of International Studies.
• International Monetary Fund, 2019. "Republic of Equatorial Guinea; Request for an Extended Arrangement Under the Extended Fund Facility and Second Review Under the Staff-Monitored Program-Press Release, Staff Report, and Statement by th," IMF Staff Country Reports 19/384, International Monetary Fund.
• Miroudot, Sébastien & ye, ming, 2018. "Tracing value-added and double counting in sales of foreign affiliates and domestic-owned companies," MPRA Paper 97632, University Library of Munich, Germany.
• Samba Diop & Simplice A. Asongu, 2020. "An Index of African Monetary Integration (IAMI)," Working Papers 20/003, European Xtramile Centre of African Studies (EXCAS).
• International Monetary Fund, 2019. "People's Republic of China-Hong Kong Special Administrative Region; 2019 Article IV Consultation Discussions-Press Release; Staff Report; Staff Statement and Statement by the Executive Director for th," IMF Staff Country Reports 19/394, International Monetary Fund.
• International Monetary Fund, 2019. "Democratic Republic of the Congo; Staff-Monitored Program and Request for Disbursement Under the Rapid Credit Facility; Press Release; Staff Report; and Statement by the Executive Director for the Dem," IMF Staff Country Reports 19/388, International Monetary Fund.
• Flores Zendejas, Juan & Lopez Soto, David & Sanchez Amador, David, 2020. "New paradigms and old promises: central banks and the market for sovereign debt in the interwar period," Working Papers unige:129346, University of Geneva, Paul Bairoch Institute of Economic History.
• International Monetary Fund, 2019. "Pakistan; First Review Under the Extended Arrangement Under the Extended Fund Facility and Request for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive ," IMF Staff Country Reports 19/380, International Monetary Fund.
• Daniel A. Dias, 2019. "From Micro to Macro: A Note on the Analysis of Aggregate Productivity Dynamics Using Firm-Level Data," Working Papers w201920, Banco de Portugal, Economics and Research Department.
• International Monetary Fund, 2019. "Suriname; 2019 Article IV Consultation-Press Release; Staff Report; Informational Annex; and Statement by the Executive Director for Suriname," IMF Staff Country Reports 19/391, International Monetary Fund.
• Marco Gross & Christoph Siebenbrunner, 2019. "Money Creation in Fiat and Digital Currency Systems," IMF Working Papers 19/285, International Monetary Fund.
• Ayoki, Milton, 2020. "The employment effects of trade policy reform in Myanmar," MPRA Paper 98090, University Library of Munich, Germany.
• Alvaro Aguirre, 2020. "Welfare Effects of Fiscal Procyclicality: Public Insurance with Heterogeneous Agents," Working Papers Central Bank of Chile 863, Central Bank of Chile.
• Max Gillman, 2019. "A Human Capital Theory of Structural Transformation," CERGE-EI Working Papers wp648, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
• Julien Albertini & Xavier Fairise & Anthony Terriau, 2020. "Health, wealth, and informality over the life cycle," Working Papers 2001, Groupe d'Analyse et de Théorie Economique Lyon St-Étienne (GATE Lyon St-Étienne), Université de Lyon.
• Claudio, João C. & Heinisch, Katja & Holtemöller, Oliver, 2019. "Nowcasting East German GDP growth: A MIDAS approach," IWH Discussion Papers 24/2019, Halle Institute for Economic Research (IWH).
• Ángel Estrada & Luis Guirola & Iván Kataryniuk & Jaime Martínez-Martín, 2020. "The use of BVARs in the analysis of emerging economies," Occasional Papers 2001, Banco de España.
• Yuji Horioka, Charles & Niimi, Yoko, 2020. "Was the Expansion of Housing Credit in Japan Good or Bad?," AGI Working Paper Series 2020-01, Asian Growth Research Institute.
• Каморников, Сергей & Шалупаева, Наталья, 2019. "Экспериментальное Моделирование Зависимости Экспорта Товаров Республики Беларусь От Привлеченных Прямых Иностранных Инвестиций [Experimental modeling of export dependence of goods Republic of Belar," MPRA Paper 97689, University Library of Munich, Germany.
• Caterina Forti Grazzini & Chi Hyun Kim, 2020. "Is Monetary Policy Gender Neutral? Evidence from the Stock Market," Discussion Papers of DIW Berlin 1841, DIW Berlin, German Institute for Economic Research.
• Martin Hodula, 2019. "Monetary Policy and Shadow Banking: Trapped between a Rock and a Hard Place," Working Papers 2019/5, Czech National Bank.
• International Monetary Fund, 2019. "Barbados; 2019 Article IV Consultation, Second Review Under the Extended Arrangement, Request for Completion of the Financing Assurances Review, and Modification of Performance Criteria-Press Releases," IMF Staff Country Reports 19/370, International Monetary Fund.
• International Monetary Fund, 2019. "Honduras; First Reviews Under the Stand-By Arrangement and the Arrangement Under the Standby Credit Facility, and Request for Modification of Performance Criteria-Press Release; Staff Report; and Stat," IMF Staff Country Reports 19/377, International Monetary Fund.
• Andreeva, Desislava & García-Posada, Miguel, 2020. "The impact of the ECB’s targeted long-term refinancing operations on banks’ lending policies: the role of competition," Working Paper Series 2364, European Central Bank.
• Maletic, M., 2020. "Essays on international finance and empirical asset pricing," Other publications TiSEM 5888b491-8c83-4628-9175-d, Tilburg University, School of Economics and Management.
• Nathaniel Frentz & Jaeger Nelson & Dan Ready & John Seliski, 2020. "A Simplified Model of How Macroeconomic Changes Affect the Federal Budget: Working Paper 2020-01," Working Papers 55884, Congressional Budget Office.
• Fenoaltea, Stefano, 2020. "Reconstructing The Past: The Measurement Of Aggregate Product," MPRA Paper 97042, University Library of Munich, Germany.
• International Monetary Fund, 2019. "Benin; Fifth Review under the Extended Credit Facility Arrangement, Request for Extension, and Request for Modification of Performance Criteria-Press Release; and Staff Report," IMF Staff Country Reports 19/398, International Monetary Fund.
• International Monetary Fund, 2019. "Burkina Faso; Third Review under the Extended Credit Facility Arrangement-Press Release; and Staff Report," IMF Staff Country Reports 19/393, International Monetary Fund.
• International Monetary Fund, 2019. "Turkey; 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Turkey," IMF Staff Country Reports 19/395, International Monetary Fund.
• Liu, Chuan & Saam, Marianne, 2019. "ICT and productivity growth within value chains," Ruhr Economic Papers 828, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
• Wang, Jianfu, 2018. "Commodity Trade Finance Platform using Distributed Ledger Technology: Token Economics in a Closed Ecosystem using Agent Based Modeling," OSF Preprints 4yb26, Center for Open Science.
• María BASTIDA & Ana OLVEIRA, 2019. "La Red Eusumo: instrumento público al servicio los ODS en Galicia," CIRIEC Working Papers 1929, CIRIEC - Université de Liège.
• Omarova, Saule T. & Library, Cornell, 2018. "Central Banks, Systemic Risk and Financial Sector Structural Reform," LawArXiv hy8gt, Center for Open Science.
• International Monetary Fund, 2019. "Angola; Second Review of the Extended Arrangement Under the Extended Fund Facility, Requests for a Waiver of Nonobservance of Performance Criteria, Modifications of Performance Criteria, and Financing," IMF Staff Country Reports 19/371, International Monetary Fund.
• Felipe Leal & Carlos Molina & Eduardo Zilberman, 2020. "Proyección de la Inflación en Chile con Métodos de Machine Learning," Working Papers Central Bank of Chile 860, Central Bank of Chile.
• International Monetary Fund, 2019. "India; 2019 Article IV Consultation-Press Release; Staff Report; Staff Statement and Statement by the Executive Director for India," IMF Staff Country Reports 19/385, International Monetary Fund.
• Philip Arestis & Jesus Ferreiro & Carmen Gómez, 2020. "Quality of Employment and Employment Protection. Effects of Employment Protection on Temporary and Permanent Employment," Working Papers 0048, ASTRIL - Associazione Studi e Ricerche Interdisciplinari sul Lavoro.
• Dimitri B. Papadimitriou & Michalis Nikiforos & Gennaro Zezza, 2020. "Prospects and Challenges for the US Economy: 2020 and Beyond," Economics Strategic Analysis Archive sa_jan_20, Levy Economics Institute.
• Gergely Ganics & Barbara Rossi & Tatevik Sekhposyan, 2019. "From fixed-event to fixed-horizon density forecasts: Obtaining measures of multi-horizon uncertainty from survey density forecasts," Economics Working Papers 1689, Department of Economics and Business, Universitat Pompeu Fabra.
• International Monetary Fund, 2019. "Iceland; Selected Issues," IMF Staff Country Reports 19/376, International Monetary Fund.
• Ahmad Zafarullah Abdul Jalil & Mukaramah Harun & Siti Hadijah Che Mat, 2020. "Macroeconomic Instability And Fiscal Decentralization: An Empirical Analysis," Papers 2001.03486, arXiv.org.
• International Monetary Fund, 2019. "Cambodia; 2019 Article IV Consultation; Press Release; Staff Report; and Statement by the Executive Director for Cambodia," IMF Staff Country Reports 19/387, International Monetary Fund.
• Mathieu Simoens & Rudi Vander Vennet, 2019. "Bank performance in Europe and the US: a divergence in market-to-book ratios," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 19/988, Ghent University, Faculty of Economics and Business Administration.
• Alex Pienkowski, 2019. "A Three-Country Macroeconomic Model for Portugal," IMF Working Papers 19/281, International Monetary Fund.
• International Monetary Fund, 2019. "Chad; Fifth Review under the Extended Credit Facility Arrangement and Financing Assurances Review-Press Release; Staff Report; Staff Supplement; and Statement by the Executive Director for Chad," IMF Staff Country Reports 19/399, International Monetary Fund.
• Petr Hanzlík & Petr Teplý, 2020. "Institutional and Other Determinants of the Net Interest Margin of US and European Banks in a Low Interest Rate Environment," Working Papers IES 2020/3, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Jan 2020.
• Röhl, Klaus-Heiner, 2020. "Bürokratieabbau und bessere Rechtsetzung: Wer macht was in EU, Bund und Ländern?," IW policy papers 1/2020, Institut der deutschen Wirtschaft (IW) / German Economic Institute.
• Luigi Mittone & Matteo Tomaselli, 2019. "Economic Growth and Public Debt: An Experimental Approach in Search of a Confidence Channel," DEM Working Papers 2019/18, Department of Economics and Management.
• Colavecchio, Roberta & Rubene, Ieva, 2020. "Non-linear exchange rate pass-through to euro area inflation: a local projection approach," Working Paper Series 2362, European Central Bank.
• Alvaro Aguirre, 2020. "Unequal Political Business Cycles: Inequality, Policy Uncertainty and the Macroeconomy," Working Papers Central Bank of Chile 861, Central Bank of Chile.
• Aginta, Harry & Soraya, Debby A & Santoso, Wahyu B, 2018. "Financial Development and Income Inequality in Indonesia: A Sub-national Level Analysis," MPRA Paper 97655, University Library of Munich, Germany.
• International Monetary Fund, 2019. "Philippines; Technical Assistance Report-Monetary and Financial Statistics Mission," IMF Staff Country Reports 19/400, International Monetary Fund.
• Jungbin Hwang & Byunghoon Kang & Seojeong Lee, 2019. "A Doubly Corrected Robust Variance Estimator for Linear GMM," Discussion Papers 2019-08, School of Economics, The University of New South Wales.
• Cozzi, Guido & Galli, Silvia, 2019. "Counting innovations: Schumpeterian growth in discrete time," MPRA Paper 97364, University Library of Munich, Germany.
• Jean-Sébastien Fontaine & Adrian Walton, 2020. "Contagion in Dealer Networks," Staff Working Papers 20-1, Bank of Canada.
• César Girlado, 2020. "Trabajo y economía popular," Documentos de Trabajo, Escuela de Economía 17781, Universidad Nacional de Colombia, FCE, CID.
• Simplice A. Asongu & Joseph Nnanna & Paul N. Acha-Anyi, 2020. "On the Simultaneous Openness Hypothesis: FDI, Trade and TFP Dynamics in Sub-Saharan Africa," Working Papers 20/001, European Xtramile Centre of African Studies (EXCAS).