Report NEP-MAC-2021-12-20

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:

• Zaretski, Aliaksandr, 2021, "Financial constraints, risk sharing, and optimal monetary policy," MPRA Paper, University Library of Munich, Germany, number 110757, May.
• Ian Dew-Becker & Alireza Tahbaz-Salehi & Andrea Vedolin, 2021, "Skewness and Time-Varying Second Moments in a Nonlinear Production Network: Theory and Evidence," NBER Working Papers, National Bureau of Economic Research, Inc, number 29499, Nov.
• Mariano Fernández, 2021, "Perturbaciones reales sobre la Cuenta Corriente. Equilibrio parcial keynesiano vs. enfoque intertemporal de la cuenta corriente," CEMA Working Papers: Serie Documentos de Trabajo., Universidad del CEMA, number 815, Nov.
• Giovanni Di Bartolomeo & Paolo D'Imperio & Francesco Felici, 2021, "The fiscal response to the Italian COVID-19 crisis: A counterfactual analysis," Working Papers in Public Economics, Department of Economics and Law, Sapienza University of Rome, number 216, Dec.
• Christopher D. Cotton & Vaishali Garga & Justin Rohan, 2021, "Consumption Spending during the COVID-19 Pandemic," Current Policy Perspectives, Federal Reserve Bank of Boston, number 93430, Dec.
• Sebastian Edwards, 2021, "Central Bank Digital Currencies and The Emerging Markets: The Currency Substitution Challenge," NBER Working Papers, National Bureau of Economic Research, Inc, number 29489, Nov.
• Bańkowski, Krzysztof & Christoffel, Kai & Faria, Thomas, 2021, "Assessing the fiscal-monetary policy mix in the euro area," Working Paper Series, European Central Bank, number 2623, Dec.
• Ozili, Peterson K, 2022, "Can central bank digital currency increase financial inclusion? Arguments for and against," MPRA Paper, University Library of Munich, Germany, number 110786.
• van den End, Jan Willem & Konietschke, Paul & Samarina, Anna & Stanga, Irina M., 2021, "Macroeconomic reversal rate in a low interest rate environment," Working Paper Series, European Central Bank, number 2620, Dec.
• Tsang, Andrew, 2021, "Uncovering Heterogeneous Regional Impacts of Chinese Monetary Policy," MPRA Paper, University Library of Munich, Germany, number 110703, Jul.
• Luisito Bertinelli & Olivier Cardi & Romain Restout, 2021, "Labor Market Effects of Technology Shocks Biased toward the Traded Sector," Working Papers, Lancaster University Management School, Economics Department, number 342990229.
• Moritz Kuhn & Iourii Manovskii & Xincheng Qiu, 2021, "The Geography of Job Creation and Job Destruction," CRC TR 224 Discussion Paper Series, University of Bonn and University of Mannheim, Germany, number crctr224_2021_321, Dec.
• Mr. Jan Vlcek & Mikhail Pranovich, 2020, "Quarterly Projection Model for the National Bank of Rwanda," IMF Working Papers, International Monetary Fund, number 2020/295, Dec.
• Kuusi, Tero & Puonti, Päivi, 2021, "Keep It Simple, Not Stupid – How to Save the EU Fiscal Framework?," ETLA Reports, The Research Institute of the Finnish Economy, number 120, Dec.
• Mahdi Nezafat & Ctirad Slavik, 2021, "Asset Prices and Business Cycles with Liquidity Shocks," CERGE-EI Working Papers, The Center for Economic Research and Graduate Education - Economics Institute, Prague, number wp711, Nov.
• E Philip Davis & Ka Kei Chan & Dilruba Karim, 2021, "Macroprudential Policy, Bank Competition and Bank Risk in East Asia," National Institute of Economic and Social Research (NIESR) Discussion Papers, National Institute of Economic and Social Research, number 533, Dec.
• Ojo, Marianne & Dierker, Theodore, 2021, "Monetary policy implications of deviations in inflation targeting: the need for a global cooperative, coordinated and correlated response," MPRA Paper, University Library of Munich, Germany, number 110935, Dec.
• Alexis Stenfors & Ioannis Chatziantoniou & David Gabauer, 2021, "The Evolution of Monetary Policy Focal Points," Working Papers in Economics & Finance, University of Portsmouth, Portsmouth Business School, Economics and Finance Subject Group, number 2021-10, Dec.
• Fernando E. Alvarez & Andrea Ferrara & Erwan Gautier & Hervé Le Bihan & Francesco Lippi, 2021, "Empirical Investigation of a Sufficient Statistic for Monetary Shocks," NBER Working Papers, National Bureau of Economic Research, Inc, number 29490, Nov.
• William Craighead, 2021, "Exchange Rates and Monetary Policy When Tradable and Nontradable Goods are Complements," Working Papers, Department of Economics and Geosciences, US Air Force Academy, number 2021-01, Aug.
• Lennard, Jason & Kenny, Seán & Esteves, Rui, 2021, "The aftermath of sovereign debt crises: a narrative approach," LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library, number 112784, Nov.
• Jonathan J Adams, 2021, "Firestorm: Multiplicity in Models with Full Information," Working Papers, University of Florida, Department of Economics, number 001006, Dec.
• Santiago Camara, 2021, "Spillovers of US Interest Rates: Monetary Policy & Information Effects," Papers, arXiv.org, number 2111.08631, Nov, revised Feb 2023.
• International Monetary Fund, 2021, "Mongolia: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Mongolia," IMF Staff Country Reports, International Monetary Fund, number 2021/251, Nov.
• Lee, Seungcheol & Luetticke, Ralph & Ravn, Morten O., 2021, "Financial frictions: micro vs macro volatility," Working Paper Series, European Central Bank, number 2622, Dec.
• Chun-Che Chi & Stephanie Schmitt-Grohé & Martín Uribe, 2021, "Optimal Bank Reserve Remuneration and Capital Control Policy," NBER Working Papers, National Bureau of Economic Research, Inc, number 29473, Nov.
• Skouralis, Alexandros, 2021, "The role of systemic risk spillovers in the transmission of Euro Area monetary policy," ESRB Working Paper Series, European Systemic Risk Board, number 129, Dec.
• Kento Yoshizawa & Kohei Maehashi & Hiroaki Yanagihara & Yoichi Kadogawa & Masakazu Inada, 2021, "Developments in Banknotes in Circulation since the Start of the Pandemic," Bank of Japan Review Series, Bank of Japan, number 21-E-6, Dec.
• Vegard M. Nygaard & Gajendran Raveendranathan, 2021, "The impact of U.S. employer-sponsored insurance in the 20th century," Department of Economics Working Papers, McMaster University, number 2021-11, Dec.
• Simon Gilchrist & Bin Wei & Vivian Z. Yue & Egon Zakrajšek, 2021, "Sovereign Risk and Financial Risk," NBER Working Papers, National Bureau of Economic Research, Inc, number 29501, Nov.
• Leland Farmer & Emi Nakamura & Jón Steinsson, 2021, "Learning About the Long Run," NBER Working Papers, National Bureau of Economic Research, Inc, number 29495, Nov.
• Hanming Fang & Xincheng Qiu, 2021, "“Golden Ages”: A Tale of the Labor Markets in China and the United States," NBER Working Papers, National Bureau of Economic Research, Inc, number 29523, Nov.
• International Monetary Fund, 2021, "Republic of San Marino: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of San Marino," IMF Staff Country Reports, International Monetary Fund, number 2021/249, Nov.
• International Monetary Fund, 2021, "Algeria: 2021 Article IV Consultation-Press Release; and Staff Report; and Statement by the Executive Director for Algeria," IMF Staff Country Reports, International Monetary Fund, number 2021/253, Dec.
• Mario di Serio & Matteo Fragetta & Mr. Giovanni Melina, 2021, "The Impact of r-g on the Euro-Area Government Spending Multiplier," IMF Working Papers, International Monetary Fund, number 2021/039, Feb.
• Chen Lian, 2021, "Mistakes in Future Consumption, High MPCs Now," NBER Working Papers, National Bureau of Economic Research, Inc, number 29517, Nov.
• Lindgren, Petter Y. & Presterud, Ane Ofstad, 2021, "Expanding the Norwegian Armed Forces in the Time of Corona: Benefit-Cost Analysis in the Context of High Unemployment Rate," MPRA Paper, University Library of Munich, Germany, number 106405, Jan.
• Rösl, Gerhard & Seitz, Franz, 2021, "Cash demand in times of crises," Weidener Diskussionspapiere, University of Applied Sciences Amberg-Weiden (OTH), number 83.
• Heiner Mikosch & Christopher Roth & Samad Sarferaz & Johannes Wohlfart, 2021, "Uncertainty and Information Acquisition: Evidence from Firms and Households," CEBI working paper series, University of Copenhagen. Department of Economics. The Center for Economic Behavior and Inequality (CEBI), number 21-20, Dec.
• Mr. Pragyan Deb & Miss Sanaa Nadeem & Mr. Shanaka J Peiris, 2021, "The Transmission of External Shocks in Asia: Country Characteristics and Policy Responses," IMF Working Papers, International Monetary Fund, number 2021/003, Jan.
• Marco Pinchetti & Andrzej Szczepaniak, 2021, "Global spillovers of the Fed information effect," Bank of England working papers, Bank of England, number 952, Nov.
• Rafael Wildauer & Stuart Leitch & Jakob Kapeller, 2021, "Is a €10 trillion European climate investment initiative fiscally sustainable?," Working Papers, Post Keynesian Economics Society (PKES), number PKWP2121, Dec.
• International Monetary Fund, 2021, "Ukraine: First Review Under the Stand-By Arrangement, Requests for Extension and Rephasing of Access of the Arrangement, Waivers of Nonobservance of a Performance Criterion, Financing Assurances Revie," IMF Staff Country Reports, International Monetary Fund, number 2021/250, Nov.
• Dimitri B. Papadimitriou & L. Randall Wray, 2021, "Still Flying Blind after All These Years: The Federal Reserve's Continuing Experiments with Unobservables," Economics Public Policy Brief Archive, Levy Economics Institute, number ppb_156, Dec.
• Moutsopoulos, Michael & Pelagidis, Theodore, 2021, "Labor Taxation: Insights From The World Economic Forum Survey," MPRA Paper, University Library of Munich, Germany, number 110823.
• International Monetary Fund, 2021, "Guinea-Bissau: First Review Under the Staff Monitored Program," IMF Staff Country Reports, International Monetary Fund, number 2021/252, Nov.
• Mehmet Guncavdi & Murat Kors & Elif Ozcan Tok, 2021, "Price transmission along the Turkish poultry and beef supply chains," Working Papers, Research and Monetary Policy Department, Central Bank of the Republic of Turkey, number 2130.
• International Monetary Fund, 2021, "Mexico: Arrangement Under the Flexible Credit Line and Cancellation of Current Arrangement-Press Release; Staff Supplement; and Staff Report," IMF Staff Country Reports, International Monetary Fund, number 2021/248, Nov.
• Lilian Muchimba, 2021, "Could transaction-based financial benchmarks be susceptible to collusive behaviour?," Working Papers in Economics & Finance, University of Portsmouth, Portsmouth Business School, Economics and Finance Subject Group, number 2021-11, Dec.
• Tone Smith, 2021, "Financialisation of Nature," SRE-Disc, Institute for Multilevel Governance and Development, Department of Socioeconomics, Vienna University of Economics and Business, number sre-disc-2021_08.
• Philippe Bacchetta & Elena Perazzi, 2021, "CBDC as Imperfect Substitute for Bank Deposits: A Macroeconomic Perspective," Swiss Finance Institute Research Paper Series, Swiss Finance Institute, number 21-81, Dec.
• Mr. Peter Stella & Mr. Manmohan Singh, 2021, "Some Alternative Monetary Facts," IMF Working Papers, International Monetary Fund, number 2021/006, Jan.
• Weijie Luo, 2021, "Inequality and the size of US state government," Working Papers, ECINEQ, Society for the Study of Economic Inequality, number 594, Dec.
• Dovì, Max-Sebastian & Koester, Gerrit & Nickel, Christiane, 2021, "Addressing the endogeneity of slack in Phillips Curves," Working Paper Series, European Central Bank, number 2619, Dec.
• Mr. Gee Hee Hong & Ms. Deniz O Igan & Dongyeol Lee, 2021, "Zombies on the Brink: Evidence from Japan on the Reversal of Monetary Policy Effectiveness," IMF Working Papers, International Monetary Fund, number 2021/044, Feb.
• Valentina Michelangeli & José-Luis Peydró & Enrico Sette, 2021, "Borrower versus bank channels in lending: Experimental- and administrative-based evidence," Economics Working Papers, Department of Economics and Business, Universitat Pompeu Fabra, number 1809, Dec.
• Faccia, Donata & Parker, Miles & Stracca, Livio, 2021, "Feeling the heat: extreme temperatures and price stability," Working Paper Series, European Central Bank, number 2626, Dec.
• Katsutoshi Takehana & Hisashi Tanizaki, 2021, "How did the Complementary Deposit Facility affect commercial bank fs demand for reserve? Empirical analysis using bank fs financial data," Discussion Papers in Economics and Business, Osaka University, Graduate School of Economics, number 21-17, Nov.
• Kose, M. Ayhan & Nagle, Peter & Ohnsorge, Franziska & Sugawara, Naotaka, 2021, "What Has Been the Impact of COVID-19 on Debt? Turning a Wave into a Tsunami," MPRA Paper, University Library of Munich, Germany, number 110897, Nov.
• Bhattacharya, Rudrani & Mundle, Sudipto, 2021, "A nowcast of 2021-22 GDP growth and forecast for 2022-23 based on a Factor Augmented Time Varying Coefficients Regression Model," Working Papers, National Institute of Public Finance and Policy, number 21/361, Dec.
• Jonathan Bridges & Georgina Green & Mark Joy, 2021, "Credit, crises and inequality," Bank of England working papers, Bank of England, number 949, Nov.
• Enders, Zeno & Hünnekes, Franziska & Müller, Gernot J., 2021, "Firm expectations and economic activity," Working Paper Series, European Central Bank, number 2621, Dec.
• Hans Weisfeld & Mr. Irineu E de Carvalho Filho & Mr. Fabio Comelli & Rahul Giri & Klaus-Peter Hellwig & Chengyu Huang & Fei Liu & Mrs. Sandra Lizarazo & Alexis Meyer-Cirkel & Mr. Andrea F Presbitero, 2020, "Predicting Macroeconomic and Macrofinancial Stress in Low-Income Countries," IMF Working Papers, International Monetary Fund, number 2020/289, Dec.
• António Afonso & José Carlos Coelho, 2021, "Fiscal and current account imbalances: the cases of Germany and Portugal," Working Papers REM, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa, number 2021/0208, Dec.
• Francisco Roldán, 2020, "The Aggregate-Demand Doom Loop: Precautionary Motives and the Welfare Costs of Sovereign Risk," IMF Working Papers, International Monetary Fund, number 2020/293, Dec.
• Aye, Goodness, 2021, "Effect of Fiscal and Monetary Policies on Economic Activities in South Africa: The Role of Policy Uncertainty," 2021 Conference, August 17-31, 2021, Virtual, International Association of Agricultural Economists, number 314953, Aug, DOI: 10.22004/ag.econ.314953.
• Ball, Laurence & Onken, Joern, 2021, "Hysteresis in unemployment: evidence from OECD estimates of the natural rate," Working Paper Series, European Central Bank, number 2625, Dec.
• Caner Ates & Dietmar Maringer, 2021, "A Parsimonious Macroeconomic ABM for Labor Market Regulations," LEM Papers Series, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy, number 2021/46, Dec.
• Sokol, Andrej, 2021, "Fan charts 2.0: flexible forecast distributions with expert judgement," Working Paper Series, European Central Bank, number 2624, Dec.
• Ibrahim Yarba, 2021, "Corporate Indebtedness and Investment: Micro Evidence of an Inverted U-Shape," Working Papers, Research and Monetary Policy Department, Central Bank of the Republic of Turkey, number 2131.
• Luciana Juvenal, 2020, "Terms-of-Trade Shocks are Not all Alike," IMF Working Papers, International Monetary Fund, number 2020/280, Dec.
• Francesco Furno, 2021, "The Macroeconomic Effects of Corporate Tax Reforms," Papers, arXiv.org, number 2111.12799, Nov.
• Philip McCann, 2021, "The fiscal implication of levelling up and UK governance devolution," Insight Papers, The Productivity Institute, number 008, Dec.
• Joshua C. C. Chan, 2021, "Asymmetric Conjugate Priors for Large Bayesian VARs," Papers, arXiv.org, number 2111.07170, Nov.
• TEKILASAYA KAVUNZU, François, 2020, "PLAN DE TRÉSORERIE DIFFÉRENT DE LA LOI DE FINANCES 2020 DE LA RDC : fondement et perspectives
  [CASH PLAN DIFFERENT FROM THE 2020 DRC FINANCE LAW: basis and outlook]," MPRA Paper, University Library of Munich, Germany, number 110795, Feb.
• Chiara Fratto & Brendan Harnoys Vannier & Borislava Mircheva & David de Ferranti & Ms. Hélène Poirson, 2021, "Unconventional Monetary Policies in Emerging Markets and Frontier Countries," IMF Working Papers, International Monetary Fund, number 2021/014, Jan.
• Dávila, Eduardo & Walther, Ansgar, 2021, "Prudential policy with distorted beliefs," ESRB Working Paper Series, European Systemic Risk Board, number 130, Dec.
• Philippe Bacchetta & Margaret Davenport & Eric van Wincoop, 2021, "Can Sticky Portfolios Explain International Capital Flows and Asset Prices?," Swiss Finance Institute Research Paper Series, Swiss Finance Institute, number 21-80, Dec.
• Kheng, Veasna & Mckinley, Justin & Pan, Lei, 2021, "The decline of labour share in OECD and non-OECD since the 1980s," MPRA Paper, University Library of Munich, Germany, number 110838, Oct.
• Fakhri Hasanov & Leila Dagher, 2021, "Oil Market Shocks and Financial Instability in Asian Countries," Discussion Papers, King Abdullah Petroleum Studies and Research Center, number ks--2021-dp018, Nov, DOI: 10.30573/KS--2021-DP018.
• Boysen-Hogrefe, Jens & Fiedler, Salomon & Gern, Klaus-Jürgen & Groll, Dominik & Jannsen, Nils & Kooths, Stefan, 2021, "Vermögenspreise, Zinseffekte und die Robustheit der öffentlichen Finanzen in Deutschland - eine Szenario-Analyse," Kieler Beiträge zur Wirtschaftspolitik, Kiel Institute for the World Economy (IfW Kiel), number 36.
• Karl Naumann-Woleske & Max Sina Knicker & Michael Benzaquen & Jean-Philippe Bouchaud, 2021, "Exploration of the Parameter Space in Macroeconomic Agent-Based Models," Papers, arXiv.org, number 2111.08654, Nov, revised Aug 2022.
• Gabriel Felbermayr & Alexander Sandkamp, 2021, "Antidumpingzölle, Preise und China: Freihandel als Retter in der Not?," WIFO Research Briefs, WIFO, number 12, Oct.
• de Bresser, Jochem, 2021, "Evaluating the Accuracy of Counterfactuals The Role of Heterogeneous Expectations in Life Cycle Models," Discussion Paper, Tilburg University, Center for Economic Research, number 2021-034.
• Brueckner, Markus & Kang, Wensheng & Vespignani, Joaquin, 2021, "Covid-19 and Firms' Stock Price Growth: The Role of Market Capitalization," Working Papers, University of Tasmania, Tasmanian School of Business and Economics, number 2021-09.
• Mathew, Merlin, 2021, "Impact of Macroeconomic Policies on Agricultural Performance in India: A Vector Auto Regression Approach," 2021 Conference, August 17-31, 2021, Virtual, International Association of Agricultural Economists, number 315158, Aug, DOI: 10.22004/ag.econ.315158.
• Katsutoshi Takehana & Hisashi Tanizaki, 2021, "Some issues related to the Japanese financial system raised by the amendment of Payment Act in 2020," Discussion Papers in Economics and Business, Osaka University, Graduate School of Economics, number 21-18, Nov.
• Blackwell, Michael, 2020, "Finance Act 2020 Notes: Section 15: loan charge not to apply to loans or quasi-loans made before 9 December 2010; Section 16: election for loan charge to be split over three tax years; Schedule 2: the," LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library, number 106278, Nov.