Report NEP-MAC-2020-10-26

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:

• Jean-Bernard, Chatelain & Kirsten, Ralf, 2020. "How Macroeconomists Lost Control of Stabilization Policy: Towards Dark Ages," MPRA Paper 103244, University Library of Munich, Germany.
• Oh, Joonseok & Rogantini Picco, Anna, 2020. "Macro Uncertainty and Unemployment Risk," Working Paper Series 395, Sveriges Riksbank (Central Bank of Sweden).
• Huixin Bi & Wenyi Shen & Shu-Chun S. Yang, 2020. "Fiscal Implications of Interest Rate Normalization in the United States," Research Working Paper RWP 20-12, Federal Reserve Bank of Kansas City.
• Jesús Rodríguez-López & Mario Solís-García, 2020. "On the Magnitude of the Expenditure Multiplier," Working Papers 20.05, Universidad Pablo de Olavide, Department of Economics.
• Edoardo Palombo, 2020. "Unconventional Monetary Policy, Leverage & Default Dynamics," Working Papers 910, Queen Mary University of London, School of Economics and Finance.
• Filippo Occhino, 2020. "Quantitative Easing and Direct Lending in Response to the COVID-19 Crisis," Working Papers 20-29, Federal Reserve Bank of Cleveland.
• Celso José Costa Jr & Alejandro Garcia-Cintado & Karlo Marques, 2020. "Conventional macroeconomic policies and the pandemic-driven recession," Working Papers 20.03, Universidad Pablo de Olavide, Department of Economics.
• Mauricio Ulate, 2020. "Alternative Models of Interest Rate Pass-Through in Normal and Negative Territory," Working Paper Series 2020-31, Federal Reserve Bank of San Francisco.
• Pratiti Chatterjee & Fabio Milani, 2020. "Perceived Uncertainty Shocks, Excess Optimism-Pessimism, and Learning in the Business Cycle," CESifo Working Paper Series 8608, CESifo.
• Leonardo N. Ferreira, 2020. "Forward Guidance Matters: Disentangling Monetary Policy Shocks," Working Papers 912, Queen Mary University of London, School of Economics and Finance.
• E Philip Davis & Dilruba Karim & Dennison Noel, 2020. "Macroprudential Policy, Monetary Policy and the Bank Interest Rate Margin," National Institute of Economic and Social Research (NIESR) Discussion Papers 515, National Institute of Economic and Social Research.
• Michael T. Kiley, 2020. "Pandemic Recession Dynamics: The Role of Monetary Policy in Shifting a U-Shaped Recession to a V-Shaped Rebound," Finance and Economics Discussion Series 2020-083, Board of Governors of the Federal Reserve System (U.S.).
• Alvaro Fernandez-Gallardo & Ivan Paya, 2020. "Macroprudential Policy in the Euro Area," Working Papers 307121127, Lancaster University Management School, Economics Department.
• Uddin, Md Akther & Ali, Md Hakim & Radwan, Maha, 2019. "Can GDP Growth Linked Instrument Be Used For Islamic Monetary Policy?," MPRA Paper 102888, University Library of Munich, Germany.
• Parui, Pintu, 2020. "Corporate Debt, Rentiers' Portfolio Dynamics, Instability and Growth: A neo-Kaleckian Perspective," MPRA Paper 102870, University Library of Munich, Germany.
• Andrey Alexandrov, 2020. "The Effects of Trend Inflation on Aggregate Dynamics and Monetary Stabilization," CRC TR 224 Discussion Paper Series crctr224_2020_216, University of Bonn and University of Mannheim, Germany.
• Joerg Bibow, 2020. " The General Theory as "Depression Economics"? Financial Instability and Crises in Keynes's Monetary Thought," Economics Working Paper Archive wp_974, Levy Economics Institute.
• Christopher M. Gunn & Alok Johri & Marc-Andre Letendre, 2020. "Charge-offs, Defaults and the Financial Accelerator," Department of Economics Working Papers 2020-17, McMaster University.
• Karl-Friedrich Israel & Gunther Schnabl, 2020. "Alternative Measures of Price Inflation and the Perception of Real Income in Germany," CESifo Working Paper Series 8583, CESifo.
• Frohm, Erik, 2020. "Labor shortages and wage growth," Working Paper Series 394, Sveriges Riksbank (Central Bank of Sweden).
• Whelsy BOUNGOU, 2020. "Empirical Evidence of the Lending Channel of Monetary Policy under Negative Interest Rates," Bordeaux Economics Working Papers 2020-16, Bordeaux School of Economics (BSE).
• Uddin, Md Akther, 2019. "Islamic Monetary Economics: Insights from the Literature," MPRA Paper 102887, University Library of Munich, Germany.
• Manuel Gonzalez-Astudillo & Jean-Philippe Laforte, 2020. "Estimates of r* Consistent with a Supply-Side Structure and a Monetary Policy Rule for the U.S. Economy," Finance and Economics Discussion Series 2020-085, Board of Governors of the Federal Reserve System (U.S.).
• Claudio Sardoni, 2020. "Budget deficits, public debt and the Ricardian Equivalence," Working Papers 18/20, Sapienza University of Rome, DISS.
• Terry J. Fitzgerald & Callum J. Jones & Mariano Kulish & Juan Pablo Nicolini, 2020. "Is There a Stable Relationship between Unemployment and Future Inflation?," Staff Report 614, Federal Reserve Bank of Minneapolis.
• Rolf Färe & Valentin Zelenyuk, 2020. "POn Fisher Aggregation of Multi-factor Productivity Indexes," CEPA Working Papers Series WP082020, School of Economics, University of Queensland, Australia.
• Sangyup Choi & Junhyeok Shin, 2020. "Household Indebtedness and the Macroeconomic Effects of Tax Changes," Working papers 2020rwp-178, Yonsei University, Yonsei Economics Research Institute.
• Rafiq, Shuddhasattwa, 2020. "Projecting post-crisis house and equity prices since the 1870s:not all crises are alike," MPRA Paper 103164, University Library of Munich, Germany.
• Oliver Holtemöller & Alexander Kriwoluzky & Boreum Kwak, 2020. "Exchange Rates and the Information Channel of Monetary Policy," Discussion Papers of DIW Berlin 1906, DIW Berlin, German Institute for Economic Research.
• Palma, J. G., 2020. "Finance as Perpetual Orgy. How the ‘new alchemists’ twisted Kindleberger’s cycle of “manias, panics and crashes” to “manias, panics and renewed-manias”," Cambridge Working Papers in Economics 2094, Faculty of Economics, University of Cambridge.
• Kartik B. Athreya & Ryan Mather & Jose Mustre-del-Rio & Juan M. Sanchez, 2020. "Household Financial Distress and the Burden of ‘Aggregate’ Shocks," Research Working Paper RWP 20-13, Federal Reserve Bank of Kansas City.
• Gruber, Noam, 2020. "A Relative Answer to the Growth-Saving Puzzle," MPRA Paper 103349, University Library of Munich, Germany.
• Jean-Luc Gaffard, 2020. "De la crise sanitaire à la crise économique ou la double exigence," GREDEG Working Papers 2020-41, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France.
• Rafael Guntin & Pablo Ottonello & Diego Perez, 2020. "The Micro Anatomy of Macro Consumption Adjustments," NBER Working Papers 27917, National Bureau of Economic Research, Inc.
• Razzak, Weshah, 2020. "Future Fiscal Adjustments and Debt Sustainability," MPRA Paper 103380, University Library of Munich, Germany.
• Doojav, Gan-Ochir & Damdinjav, Davaasukh, 2019. "The policy-driven boom and bust in the housing market: Evidence from Mongolia," MPRA Paper 102933, University Library of Munich, Germany, revised 2019.
• Leandro Prados de la Escosura, 2020. "Capital in Spain, 1850-2019," Working Papers 0197, European Historical Economics Society (EHES).
• Natsuki Arai, 2020. "The FOMC’s New Individual Economic Projections and Macroeconomic Theories," Working Papers 2020-007, The George Washington University, Department of Economics, H. O. Stekler Research Program on Forecasting.
• Bayari, Celal, 2020. "South Korean Economy and the Free Trade Agreement with China," MPRA Paper 102938, University Library of Munich, Germany, revised 21 Jun 2020.
• Michael Pedersen, 2020. "Surveying the survey: What can we learn about the effects of monetary policy on inflation expectations?," Working Papers Central Bank of Chile 889, Central Bank of Chile.
• Christopher Roth & Sonja Settele & Johannes Wohlfart, 2021. "Risk Exposure and Acquisition of Macroeconomic Information," CEBI working paper series 20-24, University of Copenhagen. Department of Economics. The Center for Economic Behavior and Inequality (CEBI).
• Ray Barrell & Dilruba Karim, 2020. "Banking Concentration and Financial Crises," National Institute of Economic and Social Research (NIESR) Discussion Papers 516, National Institute of Economic and Social Research.
• David M. Arseneau, 2020. "Central Bank Communication with a Financial Stability Objective," Finance and Economics Discussion Series 2020-087, Board of Governors of the Federal Reserve System (U.S.).
• Simplice A. Asongu & Samba Diop & Joseph Nnanna, 2020. "Health Vulnerability versus Economic Resilience to the Covid-19 pandemic: Global Evidence," Working Papers 20/074, European Xtramile Centre of African Studies (EXCAS).
• Hiona Balfoussia & Heather D. Gibson & Dimitris Malliaropulos & Dimitris Papageorgiou, 2020. "The economic impact of pandemics: real and financial transmission channels," Working Papers 283, Bank of Greece.
• Mahdi Ebsim & Miguel Faria-e-Castro & Julian Kozlowski, 2020. "Credit and Liquidity Policies during Large Crises," Working Papers 2020-035, Federal Reserve Bank of St. Louis, revised 22 Feb 2024.
• Ryo Arawatari & Takeo Hori & Kazuo Mino, 2020. "Productive government expenditure and economic growth in a heterogeneous-agents model," KIER Working Papers 1044, Kyoto University, Institute of Economic Research.
• Pierre-Richard Agénor & Timothy P. Jackson & Luiz Pereira da Silva, 2020. "Cross-Border Regulatory Spillovers and Macroprudential Policy Coordination," Working Papers 202028, University of Liverpool, Department of Economics.
• Emilio Carnevali & Matteo Deleidi, 2020. "The Trade-off between Inflation and Unemployment in an MMT World: An Open Economy Perspective," Economics Working Paper Archive wp_973, Levy Economics Institute.
• John C. Williams, 2020. "The Longer-Run Framework: A Look Ahead," Speech 88849, Federal Reserve Bank of New York.
• Cem Cakmakli & Hamza Demircan, 2020. "Using Survey Information for Improving the Density Nowcasting of US GDP with a Focus on Predictive Performance during Covid-19 Pandemic," Koç University-TUSIAD Economic Research Forum Working Papers 2016, Koc University-TUSIAD Economic Research Forum.
• Gabriel Chodorow-Reich & Olivier Darmouni & Stephan Luck & Matthew C. Plosser, 2020. "Bank Liquidity Provision Across the Firm Size Distribution," NBER Working Papers 27945, National Bureau of Economic Research, Inc.
• Brian Hartley, 2020. "Corridor stability of the Kaleckian growth model: a Markov-switching approach," Working Papers 2013, New School for Social Research, Department of Economics, revised Nov 2020.
• Aditya Goenka & Lin Liu & Manh-Hung Nguyen, 2020. "Modeling optimal quarantines under infectious disease related mortality," Working Papers 202025, University of Liverpool, Department of Economics.
• Luis Felipe Céspedes & Roberto Chang, 2020. "Optimal Foreign Reserves and Central Bank Policy Under Financial Stress," NBER Working Papers 27923, National Bureau of Economic Research, Inc.
• Mathieu Pedemonte, 2020. "Fireside Chats: Communication and Consumers’ Expectations in the Great Depression," Working Papers 20-30, Federal Reserve Bank of Cleveland.
• Mary Amiti & Oleg Itskhoki & Jozef Konings, 2020. "Dominant Currencies: How Firms Choose Currency Invoicing and Why it Matters," NBER Working Papers 27926, National Bureau of Economic Research, Inc.
• Samba Diop & Simplice A. Asongu, 2020. "Global health care infrastructure and Africa in times of Covid-19: insights for sustainable development and future pandemics," Working Papers 20/073, European Xtramile Centre of African Studies (EXCAS).
• Ben Zhe Wang & Jeffrey Sheen & Stefan Truck & Shih-Kang Chao & Wolfgang Karl Hardle, 2020. "A note on the impact of news on US household inflation expectations," Papers 2009.11557, arXiv.org.
• J. Scott Davis & Kevin X. D. Huang & Ayse Sapci, 2020. "Land Price Dynamics and Macroeconomic Fluctuations with Imperfect Substitution in Real Estate Markets," Globalization Institute Working Papers 401, Federal Reserve Bank of Dallas, revised 18 May 2021.
• Alexander Chudik & Kamiar Mohaddes & M. Hashem Pesaran & Mehdi Raissi & Alessandro Rebucci, 2020. "A Counterfactual Economic Analysis of COVID-19 Using a Threshold Augmented Multi-Country Model," Globalization Institute Working Papers 402, Federal Reserve Bank of Dallas.
• Kladivko, Kamil & Österholm, Pär, 2020. "Can Households Predict where the Macroeconomy is Headed?," Working Papers 2020:11, Örebro University, School of Business.
• Hans-Eggert Reimers & Friedrich Schneider & Franz Seitz, 2020. "Payment Innovations, the Shadow Economy and Cash Demand of Households in Euro Area Countries," CESifo Working Paper Series 8574, CESifo.
• John Coglianese & Brendan M. Price, 2020. "Income in the Off-Season: Household Adaptation to Yearly Work Interruptions," Finance and Economics Discussion Series 2020-084, Board of Governors of the Federal Reserve System (U.S.).
• Sylvie Rivot, 2020. "Information and Expectations in Policy-Making: Friedman's Changing Approaches to Macroeconomic Dynamics," GREDEG Working Papers 2020-39, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France.
• Jane E. Ihrig & Zeynep Senyuz & Gretchen C. Weinbach, 2020. "Implementing Monetary Policy in an "Ample-Reserves" Regime: When in Crisis (Note 3 of 3)," FEDS Notes 2020-10-02, Board of Governors of the Federal Reserve System (U.S.).
• Zhu, Tao & Wallace, Neil, 2020. "Fixed and Flexible Exchange-rates in Two Matching Models: Non-equivalence Results," MPRA Paper 102913, University Library of Munich, Germany.
• Alexander Chudik & Kamiar Mohaddes & M. Hashem Pesaran & Mehdi Raissi & Alessandro Rebucci, 2020. "A Counterfactual Economic Analysis of Covid-19 Using a Threshold Augmented Multi-Country Model," CESifo Working Paper Series 8588, CESifo.
• Arno Botha & Conrad Beyers & Pieter de Villiers, 2020. "Simulation-based optimisation of the timing of loan recovery across different portfolios," Papers 2009.11064, arXiv.org, revised Apr 2021.
• Frederik P. Schlingemann & René M. Stulz, 2020. "Have Exchange-Listed Firms Become Less Important for the Economy?," NBER Working Papers 27942, National Bureau of Economic Research, Inc.
• Hsu, Wen-Tai & Lin, Hsuan-Chih (Luke) & Yang, Han, 2020. "Between Lives and Economy: Optimal COVID-19 Containment Policy in Open Economies," Economics and Statistics Working Papers 20-2020, Singapore Management University, School of Economics.
• Nix, Emily, 2020. "A researcher’s guide to the Swedish compulsory school reform," Working Paper Series 2020:14, IFAU - Institute for Evaluation of Labour Market and Education Policy.
• Banu Demir Pakel & Beata Smarzynska Javorcik & Tomasz K. Michalski & Evren Ors, 2020. "Financial Constraints and Propagation of Shocks in Production Networks," CESifo Working Paper Series 8607, CESifo.
• H.E. Dr. Majid Al Moneef & Fakhri Hasanov, 2020. "Fiscal Multipliers for Saudi Arabia Revisited," Discussion Papers ks--2020-dp21, King Abdullah Petroleum Studies and Research Center.
• Emmanuel Saez & Gabriel Zucman, 2020. "The Rise of Income and Wealth Inequality in America: Evidence from Distributional Macroeconomic Accounts," NBER Working Papers 27922, National Bureau of Economic Research, Inc.
• Edoardo Palombo, 2020. "Uncertainty, Intangible Capital, and Productivity Dynamics," Working Papers 909, Queen Mary University of London, School of Economics and Finance.
• Orazio Attanasio & Agnes Kovacs & Patrick Moran, 2020. "Temptation and Commitment: A Model of Hand-to-Mouth Behavior," NBER Working Papers 27944, National Bureau of Economic Research, Inc.
• He, Sicheng, 2019. "Three essays in financial frictions," ISU General Staff Papers 201901010800008031, Iowa State University, Department of Economics.
• Samba Diop & Simplice A. Asongu & Joseph Nnanna, 2020. "Covid-19 Economic Vulnerability and Resilience Indexes: Global Evidence," Working Papers 20/070, European Xtramile Centre of African Studies (EXCAS).
• Mariam Camarero & Josep Lluís Carrión-i-Silvestre & Cecilio Tamarit, 2020. "External imbalances from a GVAR perspective," Working Papers 2005, Department of Applied Economics II, Universidad de Valencia.
• Krittika Banerjee & Ashima Goyal, 2020. "Monetary spillovers and real exchange rate misalignments in emerging markets," Indira Gandhi Institute of Development Research, Mumbai Working Papers 2020-030, Indira Gandhi Institute of Development Research, Mumbai, India.
• Yayi Yan & Jiti Gao & Bin peng, 2020. "A Class of Time-Varying Vector Moving Average (infinity) Models," Monash Econometrics and Business Statistics Working Papers 39/20, Monash University, Department of Econometrics and Business Statistics.
• Emmanuel Saez & Gabriel Zucman, 2020. "Trends in US Income and Wealth Inequality: Revising After the Revisionists," NBER Working Papers 27921, National Bureau of Economic Research, Inc.
• Arjan Lejour & Simon Rabaté & Maarten van 't Riet, 2020. "Offshore Tax Evasion and Wealth Inequality: Evidence from a Tax Amnesty in the Netherlands," CPB Discussion Paper 417.rdf, CPB Netherlands Bureau for Economic Policy Analysis.
• Andrew Clark, 2020. "A Pound Centric look at the Pound vs. Krona Exchange Rate Movement from 1844 to 1965," Economics Discussion Papers em-dp2020-22, Department of Economics, University of Reading.
• Hirono, Makoto & Mino, Kazuo, 2020. "Pension Reforms, Population Aging, and Retirement Decision of the Elderly in a Neoclassical Growth Model," MPRA Paper 102467, University Library of Munich, Germany.
• Philip Sauré & Philipp Herkenhoff, 2020. "How Expected Inflation Distorts the Current Account and the Valuation Effect," Working Papers 2022, Gutenberg School of Management and Economics, Johannes Gutenberg-Universität Mainz, revised 10 Nov 2020.
• Karol Mazur, 2020. "Sharing Risk to Avoid Tragedy: Informal Insurance and Irrigation in Village Economies," CSAE Working Paper Series 2020-19, Centre for the Study of African Economies, University of Oxford.
• Yannick Bury & Lars P. Feld & Ekkehard A. Köhler, 2020. "Do Party Ties Increase Transfer Receipts in Cooperative Federalism? - Evidence from Germany," CESifo Working Paper Series 8580, CESifo.
• James B. Bullard, 2020. "Interview With St. Louis Fed President James Bullard, Wall Street Journal," Speech 88876, Federal Reserve Bank of St. Louis.
• Eric Rosengren, 2020. "The Economy’s Outlook, Challenges, and Way Forward," Speech 88885, Federal Reserve Bank of Boston.
• James B. Bullard, 2020. "COVID-19 and the U.S. Economy: Progress on Health and Incomes," Speech 88875, Federal Reserve Bank of St. Louis.
• Eric Rosengren, 2020. "Economic Fragility: Implications for Recovery from the Pandemic," Speech 88886, Federal Reserve Bank of Boston.
• Jarociński, Marek, 2020. "Central bank information effects and transatlantic spillovers," Working Paper Series 2482, European Central Bank.
• Pelzl, Paul & Valderrama, Maria Teresa, 2020. "Capital Regulations and the Management of Credit Commitments during Crisis Times," Discussion Papers 2020/12, Norwegian School of Economics, Department of Business and Management Science.
• Haroon Mumtaz, 2020. "A Generalised Stochastic Volatility in Mean VAR. An Updated Algorithm," Working Papers 908, Queen Mary University of London, School of Economics and Finance.
• Amavilah, Voxi Heinrich, 2020. "T’was slouching towards an illusion and now it’s scurrying toward a delusion: A COVID19-shocked doughnut model economy," MPRA Paper 103263, University Library of Munich, Germany.
• James B. Bullard, 2020. "Bullard Interviewed on Fox Business," Speech 88877, Federal Reserve Bank of St. Louis.
• Santiago Caicedo & Miguel Espinosa & Arthur Seibold, 2020. "Unwilling to Train? Firm Responses to the Colombian Apprenticeship Regulation," CESifo Working Paper Series 8598, CESifo.
• de Bruin, Kelly & Monaghan, Eoin & Yakut, Aykut Mert, 2020. "The use of the I3E model in macroeconomic analysis for the Irish economy," Papers WP679, Economic and Social Research Institute (ESRI).
• Kluge, Jan & Lappoehn, Sarah & Plank, Kerstin, 2020. "The Determinants of Economic Competitiveness," IHS Working Paper Series 24, Institute for Advanced Studies.
• Georgij Alekseev & Safaa Amer & Manasa Gopal & Theresa Kuchler & JW Schneider & Johannes Stroebel & Nils Wernerfelt, 2020. "The Effects of Covid-19 on U.S. Small Businesses: Evidence from Owners, Managers, and Employees," CESifo Working Paper Series 8578, CESifo.
• Claire Greene & Joanna Stavins, 2020. "Consumer Payment Choice for Bill Payments," Working Papers 20-9, Federal Reserve Bank of Boston.
• Todd Keister & Yuliyan Mitkov, 2020. "Allocating Losses: Bail-ins, Bailouts and Bank Regulation," CRC TR 224 Discussion Paper Series crctr224_2020_091, University of Bonn and University of Mannheim, Germany.