Report NEP-MAC-2020-02-17
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:
- Omotosho, Babatunde S., 2019, "Business Cycle Fluctuations in Nigeria: Some Insights from an Estimated DSGE Model," MPRA Paper, University Library of Munich, Germany, number 98351, Nov.
- Barnett, William & Bella, Giobanni & Ghosh, Taniya & Mattana, Paolo & Venturi, Beatrice, 2020, "Shilnikov Chaos, Low Interest Rates, and New Keynesian Macroeconomics," MPRA Paper, University Library of Munich, Germany, number 98417, Jan.
- Martin Holm & Pascal Paul & Andreas Tischbirek, 2020, "The Transmission of Monetary Policy under the Microscope," Working Paper Series, Federal Reserve Bank of San Francisco, number 2020-03, Jan, DOI: 10.24148/wp2020-03.
- Nicolas Caramp, 2020, "Fiscal Policy and the Monetary Transmission Mechanism," Working Papers, University of California, Davis, Department of Economics, number 337, Jan.
- Sanjay R. Singh & Nicolas Caramp, 2020, "Bond Premium Cyclicality and Liquidity Traps," Working Papers, University of California, Davis, Department of Economics, number 336, Jan.
- Marco Del Negro & Christopher A. Sims, 2015, "Central Bank Solvency and Inflation," Liberty Street Economics, Federal Reserve Bank of New York, number 20150401, Apr.
- Saito, Makoto & 齊藤, 誠, 2020, "Long-run mild deflation under fiscal unsustainability in Japan," Discussion Paper Series, Institute of Economic Research, Hitotsubashi University, number 703, Jan.
- Omotosho, Babatunde S., 2019, "Central Bank Communication in Ghana: Insights from a Text Mining Analysis," MPRA Paper, University Library of Munich, Germany, number 98297, Nov.
- Marco Del Negro & Marc Giannoni & Raiden B. Hasegawa & Frank Schorfheide, 2014, "Why Didn’t Inflation Collapse in the Great Recession?," Liberty Street Economics, Federal Reserve Bank of New York, number 20140813, Aug.
- Kevin L. Kliesen, 2020, "A Comparison of Fed "Tightening" Episodes since the 1980s," Working Papers, Federal Reserve Bank of St. Louis, number 2020-003, Jan, revised 31 Jan 2022, DOI: 10.20955/wp.2020.003.
- Isaac Baley & Ana Figueiredo & Robert Ulbricht, 2020, "Mismatch cycles," Economics Working Papers, Department of Economics and Business, Universitat Pompeu Fabra, number 1694, Jan, revised Aug 2021.
- Jason Taylor & Wenjun Xue & Hakan Yilmazkuday, 2020, "The Impact of China's Fiscal and Monetary Policy Responses to the Great Recession: An Analysis of Firm-Level Chinese Data," Working Papers, Florida International University, Department of Economics, number 2002, Feb.
- Tarek Hassan & Laurence van Lent & Stephan Hollander & Ahmed Tahoun, 2020, "The Global Impact of Brexit Uncertainty," Working Papers Series, Institute for New Economic Thinking, number 106, Jan, DOI: 10.36687/inetwp106.
- Min Zhang & Yahong Zhang, 2020, "Monetary Stimulus Policy in China: the Bank Credit Channel," Working Papers, University of Windsor, Department of Economics, number 2001, Feb.
- Pamfili Antipa & Christophe Chamley, 2019, "Regimes of Fiscal and Monetary Policy in England during the French Wars (1793-1821)," Boston University - Department of Economics - The Institute for Economic Development Working Papers Series, Boston University - Department of Economics, number dp-327, Dec.
- Item repec:imk:fmmpap:53-2019 is not listed on IDEAS anymore
- Matthew Cocci & Marco Del Negro & Marc Giannoni & Sara Shahanaghi & Micah Smith, 2015, "Why Are Interest Rates So Low?," Liberty Street Economics, Federal Reserve Bank of New York, number 20150520, May.
- Federico Bassi, 2019, "Capacity Utilization and the NAIRCU," Working Papers, HAL, number hal-02360456, Nov.
- Ismail Baydur & Toshihiko Mukoyama, 2020, "Job Duration and Match Characteristics over the Business Cycle," Working Papers, Georgetown University, Department of Economics, number gueconwpa~20-20-01, Jan.
- Kollmann, Robert, 2020, "Rational Bubbles in Non-Linear Business Cycle Models: Closed and Open Economies," MPRA Paper, University Library of Munich, Germany, number 98412, Jan.
- Evzen Kocenda & Karen Poghosyan, 2020, "Nowcasting Real GDP Growth: Comparison between Old and New EU Countries," Working Papers IES, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, number 2020/5, Feb, revised Feb 2020.
- Valeria Bejarano-Salcedo & Juan Manuel Julio-Román & Edgar Caicedo-García & Julián Alonso Cárdenas-Cárdenas, 2020, "Entendiendo, Modelando y Pronosticando el Efecto de “El Niño” Sobre los Precios de los Alimentos: El Caso Colombiano," Borradores de Economia, Banco de la Republica de Colombia, number 1102, Feb, DOI: https://doi.org/10.32468/be.1102.
- E.Gautier & S. Roux & M. Suarez Castillo, 2019, "Do Minimum Wages Make Wages more Rigid? Evidence from French Micro Data," Documents de Travail de l'Insee - INSEE Working Papers, Institut National de la Statistique et des Etudes Economiques, number g2019-09.
- الرسول, أد/ أحمد أبواليزيد & عبدالراضي, صابرين صبره & عون, أد/ عون خيرالله & عبدالرازق, د ياسمين صلاح, 2019, "أثر التضخم على النمو الاقتصادي بالقطاع الزراعي المصري
[The impact of inflation on the economic growth of the Egyptian agricultural sector]," MPRA Paper, University Library of Munich, Germany, number 98572, Dec. - Nir Jaimovich & Itay Saporta-Eksten & Henry Siu & Yaniv Yedid-Levi, 2020, "The macroeconomics of automation: data, theory, and policy analysis," ECON - Working Papers, Department of Economics - University of Zurich, number 340, Jan.
- Adam Copeland & George Hall & Louis J. Maccini, 2015, "End of the Road? Impact of Interest Rate Changes on the Automobile Market," Liberty Street Economics, Federal Reserve Bank of New York, number 20151123, Nov.
- Christian Breuer & Chang Woon Nam, 2020, "Fiscal Consolidation and the Current Account: OECD Evidence," Chemnitz Economic Papers, Department of Economics, Chemnitz University of Technology, number 035, Jan, revised Jan 2020.
- Wee Chian Koh & M. Ayhan Kose & Peter S. Nagle & Franziska L. Ohnsorge & Naotaka Sugawara, 2020, "Debt and Financial Crises," Koç University-TUSIAD Economic Research Forum Working Papers, Koc University-TUSIAD Economic Research Forum, number 2001, Feb.
- Christoffer Koch & Gary Richardson & Patrick Van Horn, 2020, "Countercyclical Capital Buffers: A Cautionary Tale," NBER Working Papers, National Bureau of Economic Research, Inc, number 26710, Jan.
- Bianca De Paoli & Marco Del Negro & Stefano Eusepi & Marc Giannoni & Argia M. Sbordone & Andrea Tambalotti, 2014, "Forecasting with the FRBNY DSGE Model," Liberty Street Economics, Federal Reserve Bank of New York, number 20140922, Sep.
- Joseph E. Gagnon & Olivier Jeanne, 2020, "Central bank policy sets the lower bound on bond yield," Working Paper Series, Peterson Institute for International Economics, number WP20-2, Jan.
- M. Ayhan Kose & Naotaka Sugawara & Marco E. Terrones, 2020, "Global Recessions," Koç University-TUSIAD Economic Research Forum Working Papers, Koc University-TUSIAD Economic Research Forum, number 2002, Feb.
- Michael Cai & Marco Del Negro & Marc Giannoni & Abhi Gupta & Pearl Li, 2018, "Forecasts of the Lost Recovery," Liberty Street Economics, Federal Reserve Bank of New York, number 20180509, May.
- Jaimovich, Nir & Saporta-Eksten, Itay & Siu, Henry E. & Yedid-Levi, Yaniv, 2020, "The Macroeconomics of Automation: Data, Theory, and Policy Analysis," IZA Discussion Papers, Institute of Labor Economics (IZA), number 12913, Jan.
- Item repec:san:wpecon:2002 is not listed on IDEAS anymore
- Item repec:san:cdmawp:2001 is not listed on IDEAS anymore
- Constantin Bürgi & Tara M. Sinclair, 2020, "What Does Forecaster Disagreement Tell Us about the State of the Economy?," Working Papers, The George Washington University, The Center for Economic Research, number 2020-001, Feb.
- Böhm, Hannes & Schaumburg, Julia & Tonzer, Lena, 2020, "Financial linkages and sectoral business cycle synchronisation: Evidence from Europe," IWH Discussion Papers, Halle Institute for Economic Research (IWH), number 2/2020.
- A. Bourgeois & A. Briand, 2019, "Le modèle Avionic: la modélisation input/output des comptes nationaux," Documents de Travail de l'Insee - INSEE Working Papers, Institut National de la Statistique et des Etudes Economiques, number g2019-02.
- Gareth Anderson & Ambrogio Cesa-Bianchi, 2020, "Crossing the credit channel: credit spreads and firm heterogeneity," Bank of England working papers, Bank of England, number 854, Feb.
- Rangan Gupta & Chi Keung Marco Lau & Jacobus A Nel & Xin Sheng, 2020, "Monetary Policy Uncertainty Spillovers in Time- and Frequency-Domains," Working Papers, University of Pretoria, Department of Economics, number 202005, Jan.
- Jesus Fernandez-Villaverde & Daniel R. Sanches & Linda Schilling & Harald Uhlig, 2020, "Central Bank Digital Currency: Central Banking For All?," Working Papers, Becker Friedman Institute for Research In Economics, number 2020-04.
- Etienne Lalé & Linas Tarasonis, 2020, "The Life-cycle Profile of Worker Flows in Lithuania," Bank of Lithuania Occasional Paper Series, Bank of Lithuania, number 32, Feb.
- M. Ayhan Kose & Naotaka Sugawara & Marco E. Terrones, 2020, "Global Recessions," Working Papers, Peruvian Economic Association, number 162, Feb.
- Tanaka, Yasuhito, 2020, "Divisibility and indivisibility of labor supply, and involuntary unemployment: A monopolistic competition model with homothetic preferences," MPRA Paper, University Library of Munich, Germany, number 98406, Jan.
- Adelowokan, Oluwaseyi & Adesoye, Adesola & Akpa, Emeka & Maku, Olukayode, 2020, "Remittances, Foreign Aid and Private Consumption in Sub-Saharan Africa (SSA): A System GMM Estimation," MPRA Paper, University Library of Munich, Germany, number 98362, Dec.
- Tanaka, Yasuhito, 2020, "Divisibility and indivisibility of labor supply, and involuntary unemployment: A perfect competition model," MPRA Paper, University Library of Munich, Germany, number 98405, Jan.
- Mohanty, Ranjan Kumar & Bhanumurthy, N.R., 2020, "Revisiting the Role of Fiscal Policy in Determining Interest Rates in India," Working Papers, National Institute of Public Finance and Policy, number 20/296, Feb.
- Gérard Mondello & Elena Sinelnikova & Pavel Trunin, 2020, "Macro and Micro Implications of the Introduction of Central Bank Digital Currencies: An Overview," GREDEG Working Papers, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France, number 2020-02, Feb, revised Mar 2020.
- Dominika Ehrenbergerova & Simona Malovana, 2019, "Introducing Macro-Financial Variables into a Semi-Structural Model," Working Papers, Czech National Bank, Research and Statistics Department, number 2019/6, Dec.
- Tanaka, Yasuhito, 2020, "非自発的失業の存在について:世代重複完全競争モデルを用いて
[On the existence of involuntary unemployment: Overlapping generations perfect competition model]," MPRA Paper, University Library of Munich, Germany, number 98407, Jan. - Alexis Derviz, 2019, "Coexistence of Physical and Crypto Assets in a Stochastic Endogenous Growth Model," Working Papers, Czech National Bank, Research and Statistics Department, number 2019/7, Dec.
- Robert C. Dent & Samuel Kapon & Fatih Karahan & Benjamin Pugsley & Ayşegül Şahin, 2014, "The Long-Term Unemployed and the Wages of New Hires," Liberty Street Economics, Federal Reserve Bank of New York, number 20141119, Nov.
- Congressional Budget Office, 2020, "How Changes in Economic Conditions Might Affect the Federal Budget: 2020 to 2030," Reports, Congressional Budget Office, number 56096, Feb.
- George Monokroussos & Yongchen Zhao, 2020, "Nowcasting in Real Time Using Popularity Priors," Working Papers, Towson University, Department of Economics, number 2020-01, Feb, revised Feb 2020.
- Oguzhan Cepni & David Gabauer & Rangan Gupta & Khuliso Ramabulana, 2020, "Time-Varying Spillover of US Trade War on the Growth of Emerging Economies," Working Papers, University of Pretoria, Department of Economics, number 202002, Jan.
- Gert Bijnens & Jozef Konings, 2018, "Declining Business Dynamism in Belgium," Working Papers, University of Liverpool, Department of Economics, number 20181, Oct.
- Andreas Fuster & Eilidh Geddes & Benedict Guttman-Kenney & Andrew F. Haughwout, 2017, "How Resilient Is the U.S. Housing Market Now?," Liberty Street Economics, Federal Reserve Bank of New York, number 20170213, Feb.
- Mary Amiti & Mark Choi, 2013, "China’s Impact on U.S. Inflation," Liberty Street Economics, Federal Reserve Bank of New York, number 20130114, Jan.
- Jose Sanchez-Fung, 2019, "Examining the life-cycle artistic productivity of Latin American photographers," ACEI Working Paper Series, Association for Cultural Economics International, number AWP-05-2019, Dec, revised Dec 2019.
- Pinshi, Christian, 2020, "Rethinking error correction model in macroeconometric analysis : A relevant review," MPRA Paper, University Library of Munich, Germany, number 98202, Jan.
- Michael P. Clements, 2020, "Individual Forecaster Perceptions of the Persistence of Shocks to GDP," ICMA Centre Discussion Papers in Finance, Henley Business School, University of Reading, number icma-dp2020-02, Jan.
- King Yoong Lim & Shuonan Zhang, 2020, "Commodity Shocks and Optimal Fiscal Management of Resource Revenue in an Economy with State-owned Enterprises," NBS Discussion Papers in Economics, Economics, Nottingham Business School, Nottingham Trent University, number 2020/02, Feb.
- Ryan Bush & Marco Huwiler & Eric LeSueur & Giorgio Topa, 2017, "How Much Is Priced In? Market Expectations for FOMC Rate Hikes from Different Angles," Liberty Street Economics, Federal Reserve Bank of New York, number 20171130, Nov.
- Lubik, Thomas A. & Matthes, Christian & Mertens, Elmar, 2020, "Indeterminacy and imperfect information," Discussion Papers, Deutsche Bundesbank, number 01/2020.
- Claude Bismut & Ismael Ramajo, 2019, "Nominal and real interest rates in OECD countries," Working Papers, HAL, number hal-02355139.
- Constantin Bürgi, 2020, "Consumer Inflation Expectations and Household Weights," Working Papers, The George Washington University, The Center for Economic Research, number 2020-002, Feb.
- Marco Cipriani & Julia Gouny & Matthew Kessler & Adam Spiegel, 2015, "The New Overnight Bank Funding Rate," Liberty Street Economics, Federal Reserve Bank of New York, number 20151109, Nov.
- Fenoaltea, Stefano, 2020, "Reconstructing The Past: Italy's Historical National Accounts, 1861-1913," MPRA Paper, University Library of Munich, Germany, number 98350, Jan.
- Bill Dupor & Rong Li & M. Saif Mehkari & Yi-Chan Tsai, 2020, "The 2008 U.S. Auto Market Collapse," Working Papers, Federal Reserve Bank of St. Louis, number 2020-004, Jan, DOI: 10.20955/wp.2020.004.
- Jan Priewe, 2020, "Why 60 and 3 percent? European debt and deficit rules - critique and alternatives," IMK Studies, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute, number 66-2020.
- Simplice A. Asongu & Oludele E. Folarin & Nicholas Biekpe, 2019, "The Stability of Demand for Money in the Proposed Southern African Monetary Union," Research Africa Network Working Papers, Research Africa Network (RAN), number 19/025, Jan.
- Item repec:imf:imfhtn:20/01 is not listed on IDEAS anymore
- Jeremiah P. Boyle & Richard K. Crump & Emanuel Moench & Matthew Raskin & Carlo Rosa & Lisa Stowe, 2014, "Survey Measures of Expectations for the Policy Rate," Liberty Street Economics, Federal Reserve Bank of New York, number 20141205a, Dec.
- Jean-Bernard Chatelain & Kirsten Ralf, 2019, "Policy Maker's Credibility with Predetermined Instruments for Forward-Looking Targets," Working Papers, HAL, number halshs-02371913, Nov.
- Simplice A. Asongu & Nicholas M. Odhiambo, 2019, "Foreign Direct Investment, Information Technology and Economic Growth Dynamics in Sub-Saharan Africa," Research Africa Network Working Papers, Research Africa Network (RAN), number 19/038, Jan.
- Shigeto Kitano & Kenya Takaku, 2020, "Financial Market Incompleteness and International Cooperation on Capital Controls," Discussion Paper Series, Research Institute for Economics & Business Administration, Kobe University, number DP2020-05, Jan, revised Oct 2021.
- Julien Albertini & Stéphane Auray & Hafedh Bouakez & Aurélien Eyquem, 2020, "Taking off into the Wind: Unemployment Risk and State-Dependent Government Spending Multipliers," Working Papers, HAL, number halshs-02452369.
- Fukunaga,Ichiro & Komatsuzaki,Takuji & Matsuoka,Hideaki, 2020, "Inflation and Public Debt Reversals in Advanced Economies," Policy Research Working Paper Series, The World Bank, number 9129, Jan.
- Gara M. dup Afonso & Roc Armenter & Benjamin Lester, 2018, "Size Is Not All: Distribution of Bank Reserves and Fed Funds Dynamics," Liberty Street Economics, Federal Reserve Bank of New York, number 20180711, Jul.
- Oriol Valles Codina, 2020, "Economic Production as Life: A Classical Approach to Computational Social Science," Working Papers, New School for Social Research, Department of Economics, number 2001, Jan.
- Christian Breuer & Carsten Colombier, 2020, "Debt and Growth: Historical Evidence," Chemnitz Economic Papers, Department of Economics, Chemnitz University of Technology, number 036, Jan, revised Jan 2020.
- Michael Cai & Marco Del Negro & Edward P. Herbst & Ethan Matlin & Reca Sarfati & Frank Schorfheide, 2019, "Online Estimation of DSGE Models," Liberty Street Economics, Federal Reserve Bank of New York, number 20190821, Aug.
- Miroudot, Sébastien & Ye, Ming, 2019, "Investigating double counting terms in the value-added decomposition of gross exports," MPRA Paper, University Library of Munich, Germany, number 98232, May.
- Jon Frost, 2020, "The economic forces driving fintech adoption across countries," BIS Working Papers, Bank for International Settlements, number 838, Feb.
- R. Jason Faberman & Andreas I. Mueller & Ayşegül Şahin & Rachel Schuh & Giorgio Topa, 2017, "How Do People Find Jobs?," Liberty Street Economics, Federal Reserve Bank of New York, number 20170405, Apr.
- Isiaq O. Oseni & Ibrahim A. Adekunle, 2020, "Relevance of Wagner’s Hypothesis in Achieving Sustainable Development Agenda in Nigeria," Working Papers, European Xtramile Centre of African Studies (EXCAS), number 20/006, Jan.
- Timothy J. Besley & Isabelle A. Roland & John Van Reenen, 2020, "The Aggregate Consequences of Default Risk: Evidence from Firm-level Data," NBER Working Papers, National Bureau of Economic Research, Inc, number 26686, Jan.
- Christina Patterson & Ayşegül Şahin & Giorgio Topa, 2014, "Why Is the Job-Finding Rate Still Low?," Liberty Street Economics, Federal Reserve Bank of New York, number 20140219, Feb.
- Isiaq O. Oseni & Ibrahim A. Adekunle, 2020, "Relevance of Wagner’s Hypothesis in Achieving Sustainable Development Agenda in Nigeria," Working Papers of the African Governance and Development Institute., African Governance and Development Institute., number 20/006, Jan.
- Robert C. Dent & Samuel Kapon & Fatih Karahan & Benjamin Pugsley & Ayşegül Şahin, 2014, "How Attached to the Labor Market Are the Long-Term Unemployed?," Liberty Street Economics, Federal Reserve Bank of New York, number 20141118, Nov.
- Robert C. Dent & Samuel Kapon & Fatih Karahan & Benjamin Pugsley & Ayşegül Şahin, 2014, "Measuring Labor Market Slack: Are the Long-Term Unemployed Different?," Liberty Street Economics, Federal Reserve Bank of New York, number 20141117, Nov.
- Bonni Brodsky & Marco Del Negro & Joseph Fiorica & Eric LeSueur & Ari Morse & Anthony P. Rodrigues, 2016, "How Do Survey- and Market-Based Expectations of the Policy Rate Differ?," Liberty Street Economics, Federal Reserve Bank of New York, number 20160407, Apr.
- Mahmut Gunay, 2020, "Nowcasting Turkish GDP with MIDAS: Role of Functional Form of the Lag Polynomial," Working Papers, Research and Monetary Policy Department, Central Bank of the Republic of Turkey, number 2002.
- Bonni Brodsky & Marco Del Negro & Joseph Fiorica & Eric LeSueur & Ari Morse & Anthony P. Rodrigues, 2016, "Reconciling Survey- and Market-Based Expectations for the Policy Rate," Liberty Street Economics, Federal Reserve Bank of New York, number 20160408, Apr.
- Beck, Thorsten & Buiter, Willem & Dominguez, Kathryn & Gros, Daniel & Gross, Christian & Kalemli-Ozcan, Sebnem & Peltonen, Tuomas & Sánchez Serrano, Antonio & Portes, Richard, 2020, "The global dimensions of macroprudential policy," Report of the Advisory Scientific Committee, European Systemic Risk Board, number 10, Feb.
- Dimitri B. Papadimitriou & Michalis Nikiforos & Gennaro Zezza, 2020, "Greece: In Search of Investors," Economics Strategic Analysis Archive, Levy Economics Institute, number gsa_1_20, Jan.
- Aronsson, Thomas & Ghosh, Sugata & Wendner, Ronald, 2020, "Positional Preferences and Efficiency in a Dynamic Economy," MPRA Paper, University Library of Munich, Germany, number 98425, Jan.
- Gizem Koşar & Kyle Smith & Wilbert Van der Klaauw, 2019, "Introducing the SCE Public Policy Survey," Liberty Street Economics, Federal Reserve Bank of New York, number 20191017, Oct.
- Luis Armona & Samuel Kapon & Laura Pilossoph & Ayşegül Şahin & Giorgio Topa, 2015, "Searching for Higher Wages," Liberty Street Economics, Federal Reserve Bank of New York, number 20150902, Sep.
- Christian Pinshi, 2020, "Rethinking error correction model in macroeconometric analysis : A relevant review," Working Papers, HAL, number hal-02454971, Jan.
- Pawel Krolikowski & Kurt Graden Lunsford, 2020, "Advance Layoff Notices and Aggregate Job Loss," Working Papers, Federal Reserve Bank of Cleveland, number 20-03R, Jan, revised 02 Feb 2022, DOI: 10.26509/frbc-wp-202003r.
- Item repec:bon:boncrc:crctr224_2020_153 is not listed on IDEAS anymore
- Gagnon, Nickolas & Bosmans, Kristof & Riedl, Arno, 2020, "The Effect of Unfair Chances and Gender Discrimination on Labor Supply," IZA Discussion Papers, Institute of Labor Economics (IZA), number 12912, Jan.
- Ryan Niladri Banerjee & Boris Hofmann & Aaron Mehrotra, 2020, "Corporate investment and the exchange rate: The financial channel," BIS Working Papers, Bank for International Settlements, number 839, Feb.
- Jorge Miranda-Pino & Daniel Murphy & Kieran Walsh & Eric Young, 2020, "A Model of Expenditure Shocks," Working Papers, Federal Reserve Bank of Cleveland, number 20-04, Feb, DOI: 10.26509/frbc-wp-202004.
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