Report NEP-MAC-2016-04-09

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:

• Luca Agnello & Nikola Altiparmakov & Michal Andrle & Maria Grazia Attinasi & Jan Babeck� & Salvador Barrios & John Bluedorn & Vladimir Borgy & Othman Bouabdallah & Andries Brandsma & Adi Brender & V, 2016. "Beyond the austerity dispute: new priorities for fiscal policy," Workshop and Conferences 20, Bank of Italy, Economic Research and International Relations Area.
• Papaioannou, Sotiris, 2016. "Public spending, monetary policy and growth: Evidence from EU countries," MPRA Paper 70331, University Library of Munich, Germany.
• Markus K. Brunnermeier & Yuliy Sannikov, 2016. "On the Optimal Inflation Rate," NBER Working Papers 22133, National Bureau of Economic Research, Inc.
• Jean-Michel Grandmont, 2016. "Endogenous Procyclicality of Labor Productivity, Employment, Real Wages and Effort in Conditionally Heteroskedastic Sunspots Unemployment Business Cycles with Negishi-Solow Efficiency Wages," Discussion Paper Series DP2016-14, Research Institute for Economics & Business Administration, Kobe University.
• Giancarlo Corsetti & Luca Dedola, 2014. "The "Mystery of the Printing Press" Monetary Policy and Self-fulfilling Debt Crises," Cambridge Working Papers in Economics 1463, Faculty of Economics, University of Cambridge.
• Antonia Lopez-Villavicencio & Valérie Mignon, 2016. "Exchange Rate Pass-through in Emerging Countries: Do the Inflation Environment, Monetary Policy Regime and Institutional Quality Matter?," Working Papers 2016-07, CEPII research center.
• Sohei Kaihatsu & Koichiro Kamada & Mitsuru Katagiri, 2016. "Theoretical Foundations for Quantitative Easing," IMES Discussion Paper Series 16-E-04, Institute for Monetary and Economic Studies, Bank of Japan.
• Jakub Mateju & Michal Kejak, 2015. "Limited Liability, Asset Price Bubbles and the Credit Cycle: The Role of Monetary Policy," Working Papers 2015/16, Czech National Bank.
• Jean-Michel Grandmont, 2016. "Endogenous Procyclicality of Labor Productivity, Employment, Real Wages and Effort in Conditionally Heteroskedastic Sunspots Unemployment Business Cycles with Negishi-Solow Efficiency Wages," Working Papers 2016:10, Department of Economics, University of Venice "Ca' Foscari".
• Henrique S. Basso & James Costain, 2016. "Macroprudential theory: advances and challenges," Occasional Papers 1604, Banco de España.
• Bijie Jia & Hyeongwoo Kim, 2016. "Government Spending Shocks and Private Activity: The Role of Sentiments," Auburn Economics Working Paper Series auwp2016-04, Department of Economics, Auburn University.
• Hännikäinen, Jari, 2016. "When does the yield curve contain predictive power? Evidence from a data-rich environment," MPRA Paper 70489, University Library of Munich, Germany.
• Phiri, Andrew, 2016. "Asymmetric pass-through effects from monetary policy to housing prices in South Africa," MPRA Paper 70258, University Library of Munich, Germany.
• Giri, Federico & Riccetti, Luca & Russo, Alberto & Gallegati, Mauro, 2016. "Monetary Policy and Large Crises in a Financial Accelerator Agent-Based Model," MPRA Paper 70371, University Library of Munich, Germany.
• Roger Farmer & Pawel Zabczyk, 2016. "The Theory of Unconventional Monetary Policy," NBER Working Papers 22135, National Bureau of Economic Research, Inc.
• G; Dosi & M.C. Pereira & A. Roventini & M.E. Virgillito, 2016. "When more flexiility yields more fragility : the microfoundations of keynesian aggregate unemployment," Documents de Travail de l'OFCE 2016-07, Observatoire Francais des Conjonctures Economiques (OFCE).
• Kufenko, Vadim, 2016. "Spurious periodicities in cliometric series: Simultaneous testing," Violette Reihe: Schriftenreihe des Promotionsschwerpunkts "Globalisierung und Beschäftigung" 48/2016, University of Hohenheim, Carl von Ossietzky University Oldenburg, Evangelisches Studienwerk.
• Gabriele Galati & Zion Gorgi & Richhild Moessner & Chen Zhou, 2016. "Deflation risk in the euro area and central bank credibility," DNB Working Papers 509, Netherlands Central Bank, Research Department.
• Gary D. Hansen & Lee E. Ohanian, 2016. "Neoclassical Models in Macroeconomics," NBER Working Papers 22122, National Bureau of Economic Research, Inc.
• Chatelain, Jean-Bernard & Ralf Kirsten, 2016. "Countercyclical versus Procyclical Taylor Principles," EconStor Preprints 129796, ZBW - Leibniz Information Centre for Economics.
• Borowczyk-Martins, Daniel & Lalé, Etienne, 2016. "Employment Adjustment and Part-time Jobs: The U.S. and the U.K. in the Great Recession," IZA Discussion Papers 9847, Institute of Labor Economics (IZA).
• Musgrave, Ralph S., 2016. "Taxpayers Subsidise Private Money Creation," MPRA Paper 70162, University Library of Munich, Germany.
• Farmer, Roger & Zabczyk, Pawel, 2016. "The Theory of Unconventional Monetary Policy," CEPR Discussion Papers 11196, C.E.P.R. Discussion Papers.
• Balcilar, Mehmet & Gupta, Rangan & Segnon, Mawuli, 2016. "The role of economic policy uncertainty in predicting U.S. recessions: A mixed-frequency Markov-switching vector autoregressive approach," Economics Discussion Papers 2016-14, Kiel Institute for the World Economy (IfW Kiel).
• Barbara Annicchiarico & Alessandra Pelloni, 2016. "Innovation, Growth and Optimal Monetary Policy," CEIS Research Paper 376, Tor Vergata University, CEIS, revised 01 Apr 2016.
• Johannes F. Wieland & Mu-Jeung Yang, 2016. "Financial Dampening," NBER Working Papers 22141, National Bureau of Economic Research, Inc.
• Warren E. Weber, 2016. "A Bitcoin Standard: Lessons from the Gold Standard," Staff Working Papers 16-14, Bank of Canada.
• Alan J. Auerbach & Laurence J. Kotlikoff & Darryl R. Koehler, 2016. "U.S. Inequality and Fiscal Progressivity: An Intragenerational Accounting," NBER Working Papers 22032, National Bureau of Economic Research, Inc.
• Jan Bruha & Jiri Polansky, 2015. "Empirical Analysis of Labor Markets over Business Cycles: An International Comparison," Working Papers 2015/15, Czech National Bank.
• Farmer, Roger, 2016. "Animal Spirits in a Monetary Model," CEPR Discussion Papers 11197, C.E.P.R. Discussion Papers.
• Portes, Richard & Thorlaksson, Eirikur Elis & Baldursson, Fridrik Mar, 2016. "All’s Well that Ends Well? Resolving Iceland’s Failed Banks," CEPR Discussion Papers 11185, C.E.P.R. Discussion Papers.
• Campiglio, Emanuele, 2015. "Beyond carbon pricing: the role of banking and monetary policy in financing the transition to a low-carbon economy," LSE Research Online Documents on Economics 65146, London School of Economics and Political Science, LSE Library.
• Prachi Mishra & Peter Montiel & Rajeswari Sengupta, 2016. "Monetary transmission in developing countries: Evidence from India," Indira Gandhi Institute of Development Research, Mumbai Working Papers 2016-008, Indira Gandhi Institute of Development Research, Mumbai, India.
• Mathilde Le Moigne & Francesco Saraceno & Sebastien Villemot, 2016. "Probably too Little, Certainly too Late. An Assessement of the Juncker Investment Plan," Documents de Travail de l'OFCE 2016-10, Observatoire Francais des Conjonctures Economiques (OFCE).
• Curatola, Giuliano & Donadelli, Michael & Grüning, Patrick & Meinerding, Christoph, 2016. "Investment-specific shocks, business cycles, and asset prices," SAFE Working Paper Series 129, Leibniz Institute for Financial Research SAFE.
• Vasilev, Aleksandar, 2016. "Search and matching frictions and business cycle fluctuations in Bulgaria: Technical Appendix," EconStor Research Reports 129795, ZBW - Leibniz Information Centre for Economics.
• Faraglia, Elisa & Oikonomou, Rigas & Equiza-Goñi, Juan, 2016. "Union Debt Management," CEPR Discussion Papers 11181, C.E.P.R. Discussion Papers.
• Adugna Olani, 2016. "Dynamic Capital Inflow Transmission Of Monetary Policy To Emerging Markets," Working Paper 1358, Economics Department, Queen's University.
• Akinwande A. Atanda & Andrea K. Menclova & W. Robert Reed, 2016. "Is Health Care Infected by Baumol’s Cost Disease? Test of a New Model Using an OECD Dataset," Working Papers in Economics 16/04, University of Canterbury, Department of Economics and Finance.
• International Monetary Fund, 2016. "India; 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for India," IMF Staff Country Reports 16/75, International Monetary Fund.
• Guido Ascari & Paolo Bonomolo Hedibert F. Lopes, 2016. "Rational Sunspots," Economics Series Working Papers 787, University of Oxford, Department of Economics.
• Alberto Cavallo & Roberto Rigobon, 2016. "The Billion Prices Project: Using Online Prices for Measurement and Research," NBER Working Papers 22111, National Bureau of Economic Research, Inc.
• Kosuke Aoki & Alexander Michaelides & Kalin Nikolov, 2016. "Household Portfolios in a Secular Stagnation World: Evidence from Japan," Bank of Japan Working Paper Series 16-E-4, Bank of Japan.
• Brant Abbott & Giovanni Gallipoli & Costas Meghir & Gianluca Violante, 2016. "Education policy and intergenerational transfers in equilibrium," IFS Working Papers W16/04, Institute for Fiscal Studies.
• Kim, Minseong, 2016. "How accounting accuracy affects DSGE models," MPRA Paper 70404, University Library of Munich, Germany.
• Kim, Minseong, 2016. "How accounting accuracy affects DSGE models," MPRA Paper 70356, University Library of Munich, Germany.
• Holden, Thomas, 2016. "Existence and uniqueness of solutions to dynamic models with occasionally binding constraints," EconStor Preprints 130142, ZBW - Leibniz Information Centre for Economics.
• Alyssa G. Anderson & Jeff W. Huther, 2016. "Modelling Overnight RRP Participation," Finance and Economics Discussion Series 2016-023, Board of Governors of the Federal Reserve System (U.S.).
• Ryan Niladri Banerjee & Fabrizio Zampolli, 2016. "What drives the short-run costs of fiscal consolidation? Evidence from OECD countries," BIS Working Papers 553, Bank for International Settlements.
• Ines Buono & Sara Formai, 2016. "The evolution of the anchoring of inflation expectations," Questioni di Economia e Finanza (Occasional Papers) 321, Bank of Italy, Economic Research and International Relations Area.
• Carlos Viana de Carvalho & Andrea Ferrero & Fernanda Necchio, 2016. "Demographics and Real Interest Rates: Inspecting the Mechanism," Textos para discussão 648, Department of Economics PUC-Rio (Brazil).
• Matteo Barigozzi & Marco Lippi & Matteo Luciani, 2016. "Non-Stationary Dynamic Factor Models for Large Datasets," Finance and Economics Discussion Series 2016-024, Board of Governors of the Federal Reserve System (U.S.).
• G. Cette & J. Fernald & B. Mojon, 2016. "The Pre-Great Recession Slowdown in Productivity," Working papers 586, Banque de France.
• Axelle Ferrière & Anastasios G. Karantounias, 2016. "Fiscal Austerity in Ambiguous Times," FRB Atlanta Working Paper 2016-6, Federal Reserve Bank of Atlanta.
• Kollmann, Robert & Zeugner, Stefan, 2016. "Blanchard and Kahn’s (1980) solution for a linear rational expectations model with one state variable and one control variable: the correct formula," MPRA Paper 70338, University Library of Munich, Germany.
• Tim Jackson & Peter Victor & Asjad Naqvi, 2016. "Towards a Stock-Flow Consistent Ecological Macroeconomics," WWWforEurope Working Papers series 114, WWWforEurope.
• Carl Singleton, 2016. "Long-term unemployment and the Great Recession: Evidence from UK stocks and flows," Edinburgh School of Economics Discussion Paper Series 273, Edinburgh School of Economics, University of Edinburgh.
• Alan S. Blinder & Mark W. Watson, 2014. "Presidents and the U.S. Economy: An Econometric Exploration," Working Papers 241, Princeton University, Department of Economics, Center for Economic Policy Studies..
• Papaioannou, Sotiris, 2016. "Public investment multipliers in EU countries: Does the efficiency of public sector matter?," MPRA Paper 70332, University Library of Munich, Germany.
• James B. Bullard, 2016. "Time Consistency and Fed Policy : a presentation at New York Association for Business Economics, New York, N.Y., March 24, 2016," Speech 264, Federal Reserve Bank of St. Louis.
• Robert Kollmann & Stefan Zeugner, 2016. "Blanchard and Kahn's (1980) Solution for a Linear Rational Expectations Model with One State Variable and One Control Variable: the Correct Formula," Working Papers ECARES ECARES 2016-14, ULB -- Universite Libre de Bruxelles.
• Adam P. Balcerzak & Michal Bernad Pietrzak, 2016. "TOPSIS Analysis of Changes of Quality of Human Capital in European Union Countries," Working Papers 7/2016, Institute of Economic Research, revised Mar 2016.
• Alisdair McKay & Emi Nakamura & Jón Steinsson, 2016. "The Discounted Euler Equation: A Note," NBER Working Papers 22129, National Bureau of Economic Research, Inc.
• David Greasley & Nick Hanley & Eoin McLaughlin & Les Oxley, 2016. "Australia: a Land of Missed Opportunities?," Discussion Papers in Environment and Development Economics 2016-08, University of St. Andrews, School of Geography and Sustainable Development.
• Afrasiab Mirza & Eric Stephens, 2016. "Securitization and Aggregate Investment Efficiency," Carleton Economic Papers 16-05, Carleton University, Department of Economics, revised 24 Jan 2017.
• Malka de Castro Campos & Federica Teppa, 2016. "Individual inflation expectations in a declining-inflation environment: Evidence from survey data," DNB Working Papers 508, Netherlands Central Bank, Research Department.
• Vasco M. Carvalho, 2014. "From Micro to Macro via Production Networks," Cambridge Working Papers in Economics 1467, Faculty of Economics, University of Cambridge.
• Schneider, Friedrich & Buehn, Andreas, 2016. "Estimating the Size of the Shadow Economy: Methods, Problems and Open Questions," IZA Discussion Papers 9820, Institute of Labor Economics (IZA).
• Elinder, Mikael & Erixson, Oscar & Waldenström, Daniel, 2016. "Inheritance and Wealth Inequality: Evidence from Population Registers," IZA Discussion Papers 9839, Institute of Labor Economics (IZA).
• John C. Williams, 2016. "Discussion of “Language after liftoff: Fed communication away from the zero lower bound”," Speech 164, Federal Reserve Bank of San Francisco.
• Waldenstrom, Daniel & Elinder, Mikael, 2016. "Inheritance and wealth inequality: Evidence from population registers," CEPR Discussion Papers 11191, C.E.P.R. Discussion Papers.
• Grégory Claeys & Zsolt Darvas & Alvaro Leandro, 2016. "A proposal to revive the European Fiscal Framework," Policy Contributions 13490, Bruegel.
• Bill Dupor & Guerrero Rodrigo, 2016. "Local and Aggregate Fiscal Policy Multipliers," Working Papers 2016-4, Federal Reserve Bank of St. Louis.
• Andreas Thiemann, 2016. "How Does Maternal Pension Wealth Affect Family Old-Age Savings in Germany?," Discussion Papers of DIW Berlin 1560, DIW Berlin, German Institute for Economic Research.
• Nathan Foley-Fisher & Rodney Ramcharan & Edison Yu, 2016. "The Impact of Unconventional Monetary Policy on Firm Financing Constraints : Evidence from the Maturity Extension Program," Finance and Economics Discussion Series 2016-025, Board of Governors of the Federal Reserve System (U.S.).
• Gregory Verdugo, 2016. "Real wage cyclicality in the Eurozone before and during the Great Recession: Evidence from micro data," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-01296738, HAL.
• Juan Carlos Matallín-Sáez & Amparo Soler-Domínguez & Emili Tortosa-Ausina, 2016. "Does socially responsible mutual fund performance vary over the business cycle? New insights on the role of ethical strategy focus and green industry idiosyncratic risk," Working Papers 2016/03, Economics Department, Universitat Jaume I, Castellón (Spain).
• Tony Volpon, 2016. "Tsunami Monetário – Ciclos Monetários Internacionais e Desafios para a Economia Brasileira," Working Papers Series 423, Central Bank of Brazil, Research Department.
• Roger Farmer & Pawel Zabczyk, 2016. "The Theory of Unconventional Monetary Policy," Discussion Papers 1611, Centre for Macroeconomics (CFM).
• Yuliyan Mitkov, 2016. "Inequality and Financial Fragility," Departmental Working Papers 201602, Rutgers University, Department of Economics.
• Leon Bettendorf & Arjan Lejour & Maarten van 't Riet, 2016. "Tax bunching by owners of small corporations," CPB Discussion Paper 326, CPB Netherlands Bureau for Economic Policy Analysis.
• Bharat Diwakar & Gilad Sorek, 2016. "Life-Cycle Saving, Bequests, and the Role of Population in R&D-based Growth," Auburn Economics Working Paper Series auwp2016-05, Department of Economics, Auburn University.
• William Dudley, 2016. "Opening remarks at the Conference on Supervising Large, Complex Financial Institutions: Defining Objectives and Measuring Effectiveness," Speech 197, Federal Reserve Bank of New York.
• Michele Piffer, 2016. "Economic Effects of Uncertainty," DIW Roundup: Politik im Fokus 92, DIW Berlin, German Institute for Economic Research.
• Ahmad K. Naimzada & Serena Sordi, 2016. "On controlling chaos in a discrete tâtonnement process," Department of Economics University of Siena 729, Department of Economics, University of Siena.
• Rahul Anand & Purva Khera, 2016. "Macroeconomic Impact of Product and Labor Market Reforms on Informality and Unemployment in India," IMF Working Papers 16/47, International Monetary Fund.
• Parsons, Donald O., 2016. "Moral-Hazard-Free First-Best Unemployment Insurance," IZA Discussion Papers 9824, Institute of Labor Economics (IZA).
• Konstantin Yanovskiy & Dmitry Maslov, 2016. "О некоторых свойствах наблюдаемого экономического роста в Китае (On Some Features of the Observed Economic Growth in China)," Working Papers 150, Gaidar Institute for Economic Policy, revised 2016.
• Alina Mika & Robert Zymek, 2016. "Friends Without Benefits? New EMU Members and the Euro Effect on Trade," Edinburgh School of Economics Discussion Paper Series 269, Edinburgh School of Economics, University of Edinburgh.
• A. Bergeaud & G. Cette & R. Lecat, 2016. "The role of production factor quality and technology diffusion in 20th century productivity growth," Working papers 588, Banque de France.
• Arnaud Cheron & Anthony Terriau, 2015. "Search frictions and (in)efficient vocational training over the life-cycle," Working Papers hal-01292113, HAL.
• Mehmet Balcilar & Rangan Gupta & Christian Pierdzioch & Mark Wohar, 2016. "Terror Attacks and Stock-Market Fluctuations: Evidence Based on a Nonparametric Causality-in-Quantiles Test for the G7 Countries," Working Papers 201608, University of Pretoria, Department of Economics.
• Fiorini, Matteo; Lebrand, Mathilde, 2016. "The Political Economy of Services Trade Agreements," Economics Working Papers ECO2016/05, European University Institute.
• Chirwa, Themba G & Odhiambo, Nicholas M, 2016. "Sources of economic growth in Zambia: an empirical investigation," Working Papers 20067, University of South Africa, Department of Economics.
• Michaël Assous & Muriel Dal-Pont Legrand & Harald Hagemann, 2016. "Business Cycles and Growth," GREDEG Working Papers 2016-06, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France.
• Mario Forni & Alessandro Giovannelli & Marco Lippi & Stefano Soccorsi, 2016. "Dynamic Factor Model with Infinite Dimensional Factor Space: Forecasting," Working Papers ECARES ECARES 2016-16, ULB -- Universite Libre de Bruxelles.
• Njindan Iyke, Bernard, 2016. "Exchange Rate Undervaluation and Sectoral Performance of the South African Economy," MPRA Paper 70343, University Library of Munich, Germany.
• FitzGerald, John & Chi, Pho Thi Kim & Lam, Do Van & Ha, Hoang & Huong, Luong & Dung, Tran, 2016. "Modelling the Vietnamese Economy," Papers WP526, Economic and Social Research Institute (ESRI).
• Takuji Komatsuzaki, 2016. "Improving Public Infrastructure in the Philippines," IMF Working Papers 16/39, International Monetary Fund.
• Heinemann, Friedrich & Moessinger, Marc-Daniel & Yeter, Mustafa, 2016. "Do fiscal rules constrain fiscal policy? A meta-regression-analysis," ZEW Discussion Papers 16-027, ZEW - Leibniz Centre for European Economic Research.
• Item repec:hal:cepnwp:hal-01295438 is not listed on IDEAS anymore

• John C. Williams, 2016. "The health of nations," Speech 161, Federal Reserve Bank of San Francisco.
• David de la Croix & Matthias Doepke & Joel Mokyr, 2016. "Clans, Guilds, and Markets: Apprenticeship Institutions and Growth in the Pre-Industrial Economy," NBER Working Papers 22131, National Bureau of Economic Research, Inc.
• Vessela Daskalova & Nicolaas J. Vriend, 2014. "Categorization and Coordination," Cambridge Working Papers in Economics 1460, Faculty of Economics, University of Cambridge.
• Pontus Rendahl, 2014. "Fiscal Policy in an Unemployment Crisis," Cambridge Working Papers in Economics 1456, Faculty of Economics, University of Cambridge.
• Sebastiano Fadda, "undated". "Technical Progress And Full Employment. A Long Run Perspective," Working Papers 0020, ASTRIL - Associazione Studi e Ricerche Interdisciplinari sul Lavoro.
• Markus Demary & Joanna Hornik & Gibran Watfe, 2016. "SME Financing in the EU: Moving beyond one-size-fits-all," Bruges European Economic Policy Briefings 40, European Economic Studies Department, College of Europe.