Report NEP-MAC-2005-02-13

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:

• Mariam Camarero & Josep Lluis Carrion Silvestre & Cecilio Tamarit, 2005. "Unemployment dynamics and NAIRU estimates for CEECs : A univariate approach," Working Papers in Economics 131, Universitat de Barcelona. Espai de Recerca en Economia.
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• Solveig K. Erlandsen & Ragnar Nymoen, 2004. "Consumption and population age structure," Working Paper 2004/22, Norges Bank.
• Barsky, Robert & Kilian, Lutz, 2004. "Oil and the Macroeconomy Since the 1970s," CEPR Discussion Papers 4496, C.E.P.R. Discussion Papers.
• Danthine, Jean-Pierre & Kurmann, Andre, 2004. "Efficiency Wages Revisited: The Internal Reference Perspective," CEPR Discussion Papers 4503, C.E.P.R. Discussion Papers.
• Gaspar, Vitor & Pérez-Quirós, Gabriel & Rodriguez Mendizabal, Hugo, 2004. "Interest Rate Determination in the Interbank Market," CEPR Discussion Papers 4516, C.E.P.R. Discussion Papers.
• Bekaert, Geert & Ang, Andrew, 2004. "The Term Structure of Real Rates and Expected Inflation," CEPR Discussion Papers 4518, C.E.P.R. Discussion Papers.
• Galí, Jordi & Rabanal, Pau, 2004. "Technology Shocks and Aggregate Fluctuations: How Well Does the RBC Model Fit Post-War US Data?," CEPR Discussion Papers 4522, C.E.P.R. Discussion Papers.
• Saint-Paul, Gilles & Bramoullé, Yann, 2004. "Social Networks and Labour Market Transitions," CEPR Discussion Papers 4523, C.E.P.R. Discussion Papers.
• Buiter, Willem & Sibert, Anne, 2004. "Deflationary Bubbles," CEPR Discussion Papers 4528, C.E.P.R. Discussion Papers.
• Fischer, Andreas, 2004. "Price Clustering in the FX Market: A Disaggregate Analysis Using Central Bank Intervention," CEPR Discussion Papers 4529, C.E.P.R. Discussion Papers.
• Nessén, Marianne & Söderström, Ulf & Linde, Jesper, 2004. "Monetary Policy in an Estimated Open-Economy Model with Imperfect Pass-Through," CEPR Discussion Papers 4531, C.E.P.R. Discussion Papers.
• Canova, Fabio & Ciccarelli, Matteo & Ortega, Eva, 2004. "Similarities and Convergence in G7 Cycles," CEPR Discussion Papers 4534, C.E.P.R. Discussion Papers.
• Rebucci, Alessandro & Ciccarelli, Matteo, 2004. "Has the Transmission Mechanism of European Monetary Policy Changed in the Run-Up to EMU?," CEPR Discussion Papers 4535, C.E.P.R. Discussion Papers.
• Dedola, Luca & Neri, Stefano, 2004. "What Does A Technology Shock Do? A VAR Analysis with Model-based Sign Restrictions," CEPR Discussion Papers 4537, C.E.P.R. Discussion Papers.
• Booth, Alison & Sepulveda, Facundo, 2004. "Endogenous Fertility Policy," CEPR Discussion Papers 4575, C.E.P.R. Discussion Papers.
• Klein, Paul, 2004. "Time Consistent Public Expenditures," CEPR Discussion Papers 4582, C.E.P.R. Discussion Papers.
• Honohan, Patrick & Lane, Philip, 2004. "Exchange Rates and Inflation Under EMU: An Update," CEPR Discussion Papers 4583, C.E.P.R. Discussion Papers.
• Muellbauer, John & Nunziata, Luca, 2004. "Forecasting (and Explaining) US Business Cycles," CEPR Discussion Papers 4584, C.E.P.R. Discussion Papers.
• Adam, Klaus & Billi, Roberto, 2004. "Optimal Monetary Policy Under Discretion with a Zero Bound on Nominal Interest Rates," CEPR Discussion Papers 4585, C.E.P.R. Discussion Papers.
• Sarno, Lucio & Thornton, Daniel L & Valente, Giorgio, 2004. "Federal Funds Rate Prediction," CEPR Discussion Papers 4587, C.E.P.R. Discussion Papers.
• Soskice, David & Carlin, Wendy, 2004. "The 3-Equation New Keynesian Model: A Graphical Exposition," CEPR Discussion Papers 4588, C.E.P.R. Discussion Papers.
• Adam, Klaus, 2004. "Optimal Monetary Policy with Imperfect Common Knowledge," CEPR Discussion Papers 4594, C.E.P.R. Discussion Papers.
• Svensson, Lars E.O. & Jeanne, Olivier, 2004. "Credible Commitment to Optimal Escape from a Liquidity Trap: The Role of the Balance Sheet of an Independent Central Bank," CEPR Discussion Papers 4599, C.E.P.R. Discussion Papers.
• Garibaldi, Pietro & Violante, Giovanni, 2004. "The Employment Effects of Severance Payments with Wage Rigidities," CEPR Discussion Papers 4608, C.E.P.R. Discussion Papers.
• Fischer, Andreas & Amstad, Marlene, 2004. "Sequential Information Flow and Real-Time Diagnosis of Swiss Inflation: Intra-Monthly DCF Estimates for a Low-Inflation Environ," CEPR Discussion Papers 4627, C.E.P.R. Discussion Papers.
• Portier, Franck & Beaudry, Paul, 2004. "When Can Changes in Expectations Cause Business Cycle Fluctuations in Neo-Classical Settings?," CEPR Discussion Papers 4628, C.E.P.R. Discussion Papers.
• Floden, Martin & Domeij, David, 2004. "Population Ageing and International Capital Flows," CEPR Discussion Papers 4644, C.E.P.R. Discussion Papers.
• Muellbauer, John & Aron, Janine, 2004. "Estimates of Personal Sector Wealth for South Africa," CEPR Discussion Papers 4646, C.E.P.R. Discussion Papers.
• Eijffinger, Sylvester & Governatori, Matteo, 2004. "Fiscal and Monetary Interaction: The Role of Asymmetries of the Stability and Growth Pact in EMU," CEPR Discussion Papers 4647, C.E.P.R. Discussion Papers.
• Kaufmann, Sylvia & Frühwirth-Schnatter, Sylvia, 2004. "Model-based Clustering of Multiple Time Series," CEPR Discussion Papers 4650, C.E.P.R. Discussion Papers.
• von Hagen, Jurgen & Ho, Tai-Kuang, 2004. "Money Market Pressure and the Determinants of Banking Crises," CEPR Discussion Papers 4651, C.E.P.R. Discussion Papers.
• Artis, Michael & Osborn, Denise & Perez-Vazquez, Pedro, 2004. "The International Business Cycle in a Changing World: Volatility and the Propagation of Shocks in the G-7," CEPR Discussion Papers 4652, C.E.P.R. Discussion Papers.
• Uribe, Martín & Schmitt-Grohé, Stephanie, 2004. "Optimal Operational Monetary Policy in the Christiano-Eichenbaum-Evans Model of the US Business Cycle," CEPR Discussion Papers 4654, C.E.P.R. Discussion Papers.
• Brunnermeier, Markus & Parker, Jonathan A, 2004. "Optimal Expectation," CEPR Discussion Papers 4656, C.E.P.R. Discussion Papers.
• Lane, Timothy & Caselli, Francesco & Ardagna, Silvia, 2004. "Fiscal Discipline and the Cost of Public Debt Service: Some Estimates for OECD Countries," CEPR Discussion Papers 4661, C.E.P.R. Discussion Papers.
• Renström, Thomas I & Marsiliani, Laura, 2004. "Political Institutions, Environmental Policy and Growth," CEPR Discussion Papers 4670, C.E.P.R. Discussion Papers.
• Modesto, Leonor & Lloyd-Braga, Teresa, 2004. "Indeterminacy in a Finance Constrained Unionized Economy," CEPR Discussion Papers 4679, C.E.P.R. Discussion Papers.
• Scott, Andrew & Imbs, Jean & Chen, Natalie, 2004. "Competition, Globalization and the Decline of Inflation," CEPR Discussion Papers 4695, C.E.P.R. Discussion Papers.
• Bayoumi, Tamim & Sgherri, Silvia, 2004. "Monetary Magic? How the Fed Improved the Flexibility of the Economy," CEPR Discussion Papers 4696, C.E.P.R. Discussion Papers.
• Artis, Michael & Hoffmann, Mathias, 2004. "Financial Globalization, International Business Cycles and Consumption Risk Sharing," CEPR Discussion Papers 4697, C.E.P.R. Discussion Papers.
• Caselli, Francesco, 2004. "Accounting for Cross-Country Income Differences," CEPR Discussion Papers 4703, C.E.P.R. Discussion Papers.
• Den Haan, Wouter & Sumner, Steven & Yamashiro, Guy, 2004. "Bank Loan Components and the Time-Varying Effects of Monetary Policy Shocks," CEPR Discussion Papers 4724, C.E.P.R. Discussion Papers.
• Den Haan, Wouter & Sumner, Steven & Yamashiro, Guy, 2004. "Banks' Loan Portfolio and the Monetary Transmission Mechanism," CEPR Discussion Papers 4725, C.E.P.R. Discussion Papers.
• Repullo, Rafael, 2004. "Policies for Banking Crises: A Theoretical Framework," CEPR Discussion Papers 4727, C.E.P.R. Discussion Papers.
• Buiter, Willem, 2004. "The Elusive Welfare Economics of Price Stability As A Monetary Policy Objective: Should New Keynesian Central Bankers Persue Pr," CEPR Discussion Papers 4730, C.E.P.R. Discussion Papers.
• Gersbach, Hans, 2004. "Financial Intermediation with Contingent Contracts and Macroeconomic Risks," CEPR Discussion Papers 4735, C.E.P.R. Discussion Papers.
• Woodford, Michael & Benigno, Pierpaolo, 2004. "Optimal Stabilization Policy When Wages and Prices are Sticky: The Case of a Distorted Steady State," CEPR Discussion Papers 4740, C.E.P.R. Discussion Papers.
• Vives, Xavier, 2004. "Complementarities and Games: New Developments," CEPR Discussion Papers 4742, C.E.P.R. Discussion Papers.
• Zenou, Yves & Wasmer, Etienne, 2004. "Equilibrium Search Unemployment With Explicit Spatial Frictions," CEPR Discussion Papers 4743, C.E.P.R. Discussion Papers.
• Canova, Fabio & Pappa, Evi, 2004. "Does it Cost to be Virtuous? The Macroeconomic Effect of Fiscal Constraints," CEPR Discussion Papers 4747, C.E.P.R. Discussion Papers.
• Smets, Frank & Wouters, Rafael, 2004. "Forecasting with a Bayesian DSGE Model: An Application to the Euro Area," CEPR Discussion Papers 4749, C.E.P.R. Discussion Papers.
• Smets, Frank & Wouters, Rafael, 2004. "Comparing Shocks and Frictions in US and Euro Area Business Cycles: A Bayesian DSGE Approach," CEPR Discussion Papers 4750, C.E.P.R. Discussion Papers.
• Zimmermann, Klaus F. & Constant, Amelie, 2004. "Self-Employment Dynamics Across the Business Cycle: Migrants vs Natives," CEPR Discussion Papers 4754, C.E.P.R. Discussion Papers.
• von Hagen, Jurgen & Wolff, Guntram B., 2004. "What Do Deficits Tell us About Debts? Empirical Evidence on Creative Accounting with Fiscal Rules in the EU," CEPR Discussion Papers 4759, C.E.P.R. Discussion Papers.
• Ellison, Martin & Graham, Liam & Vilmunen, Jouko, 2004. "Strong Contagion with Weak Spillovers," CEPR Discussion Papers 4762, C.E.P.R. Discussion Papers.
• Woodford, Michael & Benigno, Pierpaolo, 2004. "Optimal Taxation in an RBC Model: A Linear-Quadratic Approach," CEPR Discussion Papers 4764, C.E.P.R. Discussion Papers.
• Den Haan, Wouter & Haefke, Christian & Ramey, Gary, 2004. "Turbulence and Unemployment in a Job Matching Model," CEPR Discussion Papers 4765, C.E.P.R. Discussion Papers.
• Sarno, Lucio & Ellison, Martin & Vilmunen, Jouko, 2004. "Caution or Activism? Monetary Policy Strategies in an Open Economy," CEPR Discussion Papers 4766, C.E.P.R. Discussion Papers.
• Michel, DE VROEY, 2005. "Involuntary Unemployment : the Elusive Quest for a Theory," Discussion Papers (ECON - Département des Sciences Economiques) 2005004, Université catholique de Louvain, Département des Sciences Economiques.
• Konstantin A., KHOLODILIN & Wension Vincent, YAO, 2004. "Business Cycle Turning Points : Mixed-Frequency Data with Structural Breaks," LIDAM Discussion Papers IRES 2004024, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
• Eva, MORENO-GALBIS & Henri R., SNEESSENS, 2004. "Low-Skilled Unemployment, Capital-Skill Complementarity and Embodied Technical Progress," LIDAM Discussion Papers IRES 2004025, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
• Lionel, ARTIGE, 2004. "Endogenous Growth and Regional Dynamics in an OLG Model with Land," LIDAM Discussion Papers IRES 2004028, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
• Olivier, PIERARD, 2004. "Impact of Selective Reductions in Labor Taxation," LIDAM Discussion Papers IRES 2004035, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
• Pradeep Dubey & John Geanakoplos, 2003. "Real Determinacy with Nominal Assets," Cowles Foundation Discussion Papers 1427R, Cowles Foundation for Research in Economics, Yale University, revised Nov 2004.
• Ray C. Fair, 2005. "Policy Effects in the Post Boom U.S. Economy," Cowles Foundation Discussion Papers 1497, Cowles Foundation for Research in Economics, Yale University.
• Jan Marc Berk & Beata K. Bierut, 2005. "On the Optimality of Decisions made by Hub-and-Spokes Monetary Policy Committees," DNB Working Papers 027, Netherlands Central Bank, Research Department.
• Peter Hans Matthews, 2005. "Labor Discipline, Reputation and Underemployment Traps," Middlebury College Working Paper Series 0501, Middlebury College, Department of Economics.
• Thierry Warin, 2005. "Stability and Growth Pact: An Index to Trigger an Early Warning Earlier?," Middlebury College Working Paper Series 0502, Middlebury College, Department of Economics.
• Alessandro MISSALE & Emanuele BACCHIOCCHI, 2005. "Managing debt stability," Departmental Working Papers 2005-05, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
• Michael Hurd & Susann Rohwedder, 2004. "The Retirement-Consumption Puzzle: Anticipated and Actual Declines in Spending at Retirement," Working Papers wp069, University of Michigan, Michigan Retirement Research Center.
• Seok-Kyun Hur, 2005. "Money Growth and Interest Rates," NBER Working Papers 11102, National Bureau of Economic Research, Inc.
• Tim Robinson & Andrew Stone, 2005. "Monetary Policy, Asset-Price Bubbles and the Zero Lower Bound," NBER Working Papers 11105, National Bureau of Economic Research, Inc.
• Karen Wilson, 2005. "The Architecture of the System of National Accounts: A Three Country Comparison, Canada, Australia, and United Kingdom," NBER Working Papers 11106, National Bureau of Economic Research, Inc.
• John R. Baldwin & Tarek Harchaoui, 2005. "The Integration of the Canadian Productivity Accounts within the System of National Accounts: Current Status and Challenges Ahead," NBER Working Papers 11107, National Bureau of Economic Research, Inc.
• Manuela Francisco & Michael Bleaney, 2005. "Inflation Persistence and Exchange Rate Regimes: Evidence from Developing Countries," NIPE Working Papers 1/2005, NIPE - Universidade do Minho.
• Luís Francisco Aguiar-Conraria & Yi Wen, 2005. "Understanding the Impact of Oil Shocks," NIPE Working Papers 2/2005, NIPE - Universidade do Minho.
• Johann Scharler, 2004. "Understanding the Stock Market’s Response to Monetary Policy Shocks," Working Papers 93, Oesterreichische Nationalbank (Austrian Central Bank).
• K. Farrant & G. Peersman, 2005. "Is the exchange rate a shock absorber or a source of shocks? New empirical evidence," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 05/285, Ghent University, Faculty of Economics and Business Administration.
• G. Peersman, 2005. "The relative importance of symmetric and asymmetric shocks and the determination of the exchange rate," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 05/286, Ghent University, Faculty of Economics and Business Administration.
• G. Peersman & R. Straub, 2005. "Technology Shocks and Robust Sign Restrictions in a Euro Area SVAR," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 05/288, Ghent University, Faculty of Economics and Business Administration.
• Gustavo A. Marrero, 2004. "The public investment rule in a simple endogenous endogenous growth model with public capital: active or pasive?," Documentos de Trabajo del ICAE 0401, Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales, Instituto Complutense de Análisis Económico.
• Frank Portier & Luis A. Puch, 2004. "The Welfare Cost of Business Cycles in an Economy with Nonclearing Markets," Documentos de Trabajo del ICAE 0403, Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales, Instituto Complutense de Análisis Económico.
• Juan-Ángel Jiménez-Martín & Rodrigo Peruga Urrea, 2004. "Macroeconomic and policy uncertainty and Exchange rate risk Premium," Documentos de Trabajo del ICAE 0412, Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales, Instituto Complutense de Análisis Económico.
• Herrera, Santiago, 2005. "Policy mix, public debt management, and fiscal rules - lessons from the 2002 Brazilian crisis," Policy Research Working Paper Series 3512, The World Bank.
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