Report NEP-MAC-2006-01-01

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:

• Christoffel, Kai & Linzert, Tobias, 2005. "The Role of Real Wage Rigidity and Labor Market Frictions for Unemployment and Inflation Dynamics," IZA Discussion Papers 1896, Institute of Labor Economics (IZA).
• David Laidler, 2005. "Milton Friedman and the Evolution of Macroeconomics," University of Western Ontario, Economic Policy Research Institute Working Papers 200511, University of Western Ontario, Economic Policy Research Institute.
• Leonardo Gambacorta & Simonetta Iannotti, 2005. "Are there asymmetries in the response of bank interest rates monetary shocks?," Temi di discussione (Economic working papers) 566, Bank of Italy, Economic Research and International Relations Area.
• Tommaso Monacelli & Jordi Galí, 2005. "Optimal Monetary and Fiscal Policy in a Currency Union," Working Papers 300, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
• Fabia Gumbau-Brisa, 2005. "Heterogeneous beliefs and inflation dynamics: a general equilibrium approach," Working Papers 05-16, Federal Reserve Bank of Boston.
• Zsolt Darvas & Andrew K. Rose & György Szapáry, 2005. "Fiscal Divergence and Business Cycle Synchronization: Irresponsibility is Idiosyncratic," MNB Working Papers 2005/03, Magyar Nemzeti Bank (Central Bank of Hungary).
• David B. Gordon & Eric M. Leeper, 2005. "Are Countercyclical Fiscal Policies Counterproductive?," NBER Working Papers 11869, National Bureau of Economic Research, Inc.
• Péter Benczúr & Attila Rátfai, 2005. "Economic Fluctuations in Central and Eastern Europe - the Facts," MNB Working Papers 2005/02, Magyar Nemzeti Bank (Central Bank of Hungary).
• Roc Armenter & Martin Bodenstein, 2005. "Does the time inconsistency problem make flexible exchange rates look worse than you think?," Staff Reports 230, Federal Reserve Bank of New York.
• Andrew Stone & Troy Wheatley & Louise Wilkinson, 2005. "A Small Model of the Australian Macroeconomy: An Update," RBA Research Discussion Papers rdp2005-11, Reserve Bank of Australia.
• Charles T. Carlstrom & Timothy S. Fuerst, 2005. "Oil prices, monetary policy, and counterfactual experiments," Working Papers (Old Series) 0510, Federal Reserve Bank of Cleveland.
• K. Azim Ozdemir, 2005. "A Monetary Disequilibrium Model for Turkey : Investigation of a Disinflationary Fiscal Rule and its Implications on Monetary Policy," Working Papers 0507, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
• Roc Armenter & Martin Bodenstein, 2005. "Can U.S. monetary policy fall (again) into an expectation trap?," Staff Reports 229, Federal Reserve Bank of New York.
• Peter N. Ireland, 2005. "Changes in the Federal Reserve's inflation target: causes and consequences," Working Papers 05-13, Federal Reserve Bank of Boston.
• Olivier Jean Blanchard & Jordi Gali, 2005. "Real wage rigidities and the New Keynesian model," Working Papers 05-14, Federal Reserve Bank of Boston.
• Linda S. Goldberg & Michael W. Klein, 2005. "Establishing credibility: evolving perceptions of the European Central Bank," Staff Reports 231, Federal Reserve Bank of New York.
• Michael Woodford, 2005. "Central Bank Communication and Policy Effectiveness," NBER Working Papers 11898, National Bureau of Economic Research, Inc.
• Troy Davig & Eric M. Leeper, 2005. "Generalizing the Taylor Principle," NBER Working Papers 11874, National Bureau of Economic Research, Inc.
• Thomas A Lubik, 2005. "A Simple, Structural, and Empirical Model of the Antipodean Transmission Mechanism," Reserve Bank of New Zealand Discussion Paper Series DP2005/06, Reserve Bank of New Zealand.
• Sharon Kozicki & Peter A. Tinsley, 2005. "Term structure transmission of monetary policy," Research Working Paper RWP 05-06, Federal Reserve Bank of Kansas City.
• Athanasios Orphanides & John C. Williams, 2005. "Monetary policy with imperfect knowledge," Finance and Economics Discussion Series 2005-51, Board of Governors of the Federal Reserve System (U.S.).
• Roberto Ricciuti, 2005. "Bringing Macroeconomics into the Lab," Labsi Experimental Economics Laboratory University of Siena 004, University of Siena.
• Melike Altinkemer, 2004. "Importance of Base Money Even When Inflation Targeting," Working Papers 0404, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
• Juan F. Rubio-Ramirez & Daniel F. Waggoner & Tao Zha, 2005. "Markov-switching structural vector autoregressions: theory and application," FRB Atlanta Working Paper 2005-27, Federal Reserve Bank of Atlanta.
• William C. Whitesell, 2005. "An inflation goal with multiple reference measures," Finance and Economics Discussion Series 2005-62, Board of Governors of the Federal Reserve System (U.S.).
• A. Hakan Kara, 2003. "Optimal Monetary Policy, Commitment, and Imperfect Credibility," Working Papers 0301, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
• Michael Woodford, 2005. "Robustly Optimal Monetary Policy with Near Rational Expectations," NBER Working Papers 11896, National Bureau of Economic Research, Inc.
• Gábor P. Kiss & Gábor Vadas, 2005. "Mind the Gap – International Comparison of Cyclical Adjustment of the Budget," MNB Working Papers 2005/04, Magyar Nemzeti Bank (Central Bank of Hungary).
• Hakan Kara, 2004. "Monetary Policy under Imperfect Commitment : Reconciling Theory with Evidence," Working Papers 0415, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
• Gauti B. Eggertsson, 2005. "Great expectations and the end of the depression," Staff Reports 234, Federal Reserve Bank of New York.
• Götte, Lorenz & Huffman, David B., 2005. "Do Emotions Improve Labor Market Outcomes?," IZA Discussion Papers 1895, Institute of Labor Economics (IZA).
• Fatih Ozatay, 2005. "Monetary Policy Challenges for Turkey in European Union Accession Process," Working Papers 0511, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
• K. Azim Ozdemir & Paul Turner, 2004. "The Demand for Base Money in Turkey : Implications for Inflation and Seigniorage," Working Papers 0412, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
• Ricardo de O. Cavalcanti & Ed Nosal, 2005. "Some benefits of cyclical monetary policy," Working Papers (Old Series) 0511, Federal Reserve Bank of Cleveland.
• Stéphane Hallegatte & Michael Ghil & Patrice Dumas & Jean Charles Hourcade, 2008. "Business Cycles, Bifurcations and Chaos in a Neo-Classical Model with Investment Dynamics," Post-Print halshs-00007196, HAL.
• Eric T. Swanson, 2005. "Optimal nonlinear policy: signal extraction with a non-normal prior," Working Paper Series 2005-24, Federal Reserve Bank of San Francisco.
• Arturo Estrella & Anthony P. Rodrigues, 2005. "One-sided test for an unknown breakpoint: theory, computation, and application to monetary theory," Staff Reports 232, Federal Reserve Bank of New York.
• Adam Copeland & George Hall, 2005. "The Response of Prices, Sales, and Output to Temporary Changes in Demand," NBER Working Papers 11870, National Bureau of Economic Research, Inc.
• Marlene Amstad & Andreas M. Fischer, 2005. "Time-varying pass-through from import prices to consumer prices: evidence from an event study with real-time data," Staff Reports 228, Federal Reserve Bank of New York.
• Mark A. Wynne, 2005. "An estimate of the measurement bias in the HICP," Working Papers 0509, Federal Reserve Bank of Dallas.
• Antonio Fatás, 2005. "Is there a Case for Sophisticated Balanced-Budget Rules?," OECD Economics Department Working Papers 466, OECD Publishing.
• Adi Brender & Allan Drazen, 2005. "How Do Budget Deficits and Economic Growth Affect Reelection Prospects? Evidence from a Large Cross-Section of Countries," NBER Working Papers 11862, National Bureau of Economic Research, Inc.
• Gauti B. Eggertsson, 2005. "Optimal monetary and fiscal policy under discretion in the New Keynesian model: a technical appendix to \\"Great Expectations and the End of the Depression\\"," Staff Reports 235, Federal Reserve Bank of New York.
• Robert J. Tetlow & Peter Von zur Muehlen, 2005. "Robustifying learnability," Finance and Economics Discussion Series 2005-58, Board of Governors of the Federal Reserve System (U.S.).
• Karen E. Dynan & Douglas W. Elmendorf & Daniel E. Sichel, 2005. "Can financial innovation help to explain the reduced volatility of economic activity?," Finance and Economics Discussion Series 2005-54, Board of Governors of the Federal Reserve System (U.S.).
• Gianni La Cava, 2005. "Financial Constraints, the User Cost of Capital and Corporate Investment in Australia," RBA Research Discussion Papers rdp2005-12, Reserve Bank of Australia.
• Gabor Vadas, 2005. "Beyond macro variables: consumer confidence index and household expenditure in Hungary," Microeconomics 0512006, University Library of Munich, Germany.
• Suparna Chakraborty, 2005. "Technology as a channel of economic growth in India," Macroeconomics 0512013, University Library of Munich, Germany.
• Marco Del Negro & Frank Schorfheide, 2005. "Monetary policy analysis with potentially misspecified models," FRB Atlanta Working Paper 2005-26, Federal Reserve Bank of Atlanta.
• Marco Arnone & Diego Scalise, 2005. "Macroeconomic Effects of Deregulation in Goods Market with Heterogeneous Firms," Macroeconomics 0512015, University Library of Munich, Germany.
• Paul Castillo & Diego Winkelried, 2005. "Dollarization Persistence and Individual Heterogeneity," Macroeconomics 0512014, University Library of Munich, Germany, revised 31 Dec 2005.
• Ilker Domac, 2003. "Explaining and Forecasting Inflation in Turkey," Working Papers 0306, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
• John Cornwall, 2005. "A Keynesian Model of Unemployment and Growth: Theory," Department of Economics at Dalhousie University working papers archive 2005-02, Dalhousie, Department of Economics.
• Alberto Martin, 2004. "Endogenous credit cycles," Economics Working Papers 916, Department of Economics and Business, Universitat Pompeu Fabra, revised Aug 2008.
• Huberto M. Ennis, 2005. "Avoiding the inflation tax," Working Paper 05-10, Federal Reserve Bank of Richmond.
• Leslie McGranahan & Anna L. Paulson, 2005. "The incidence of inflation: inflation experiences by demographic group: 1981-2004," Working Paper Series WP-05-20, Federal Reserve Bank of Chicago.
• Alan G. Ahearne & Finn E. Kydland & Mark A. Wynne, 2005. "Ireland's great depression," Working Papers 0510, Federal Reserve Bank of Dallas.
• Essama-Nssah, B., 2005. "Simulating the poverty impact of macroeconomic shocks and policies," Policy Research Working Paper Series 3788, The World Bank.
• Andrea Vaona & Stefano Schiavo, 2005. "Nonparametric and semiparametric evidence on the long-run effects of inflation on growth," Department of Economics Working Papers 0520, Department of Economics, University of Trento, Italia.
• Russell W. Cooper & Hubert Kempf & Dan Peled, 2005. "Is it is or is it ain't my obligation? Regional debt in a fiscal federation," Working Papers 0507, Federal Reserve Bank of Dallas.
• Liuren Wu & Frank X. Zhang, 2005. "A no-arbitrage analysis of economic determinants of the credit spread term structure," Finance and Economics Discussion Series 2005-59, Board of Governors of the Federal Reserve System (U.S.).
• Shah, Anwar, 2005. "Fiscal decentralization and fiscal performance," Policy Research Working Paper Series 3786, The World Bank.
• Hakan Kara & Hande Kucuk Tuger, 2005. "Some Evidence on the Irrationality of Inflation Expectations in Turkey," Working Papers 0512, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
• Yuksel Gormez & Christopher Houghton Budd, 2003. "Electronic Money Free Banking and Some Implications for Central Banking," Working Papers 0303, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
• David C. Mills, 2005. "Alternative central bank credit policies for liquidity provision in a model of payments," Finance and Economics Discussion Series 2005-55, Board of Governors of the Federal Reserve System (U.S.).
• Robert Shimer, 2005. "Mismatch," NBER Working Papers 11888, National Bureau of Economic Research, Inc.
• Guillaume Rocheteau & Peter Rupert & Karl Shell & Randall Wright, 2005. "General equilibrium with nonconvexities, sunspots, and money," Working Papers (Old Series) 0513, Federal Reserve Bank of Cleveland.
• Michelle L. Barnes & Jose A. Lopez, 2005. "Alternative measures of the Federal Reserve banks' cost of equity capital," Public Policy Discussion Paper 05-2, Federal Reserve Bank of Boston.
• Guillaume Vandenbroucke, 2005. "A Model of the Trends in Hours," IEPR Working Papers 05.40, Institute of Economic Policy Research (IEPR).
• Tony Cavoli & Ramkishen S. Rajan, 2005. "The Capital Inflows Problem in Selected Asian Economies in the 1990s Revisited: The Role of Monetary Sterilization," SCAPE Policy Research Working Paper Series 0518, National University of Singapore, Department of Economics, SCAPE.
• Yuksel Gormez & Forrest Capie, 2003. "Prospects for Electronic Money : A US - European Comparative Survey," Working Papers 0302, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
• Ana Maria Herrera & Pinar Ozbay, 2005. "A Dynamic Model of Central Bank Intervention," Working Papers 0501, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
• Cihan Yalcin & Spiros Bougheas & Paul Mizen, 2004. "The Impact of Firm-Specific Characteristics on the Response to Monetary Policy Actions," Working Papers 0407, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
• Mark Aguiar & Erik Hurst, 2005. "Lifestyle prices and production," Public Policy Discussion Paper 05-3, Federal Reserve Bank of Boston.
• Leonardo Bartolini & R. Spence Hilton & Alessandro Prati, 2005. "Money market integration," Staff Reports 227, Federal Reserve Bank of New York.
• Travis D. Nesmith, 2005. "Solving stochastic money-in-the-utility-function models," Finance and Economics Discussion Series 2005-52, Board of Governors of the Federal Reserve System (U.S.).
• Gürkaynak, Refet S. & Wolfers, Justin, 2005. "Macroeconomic Derivatives: An Initial Analysis of Market-Based Macro Forecasts, Uncertainty and Risk," IZA Discussion Papers 1899, Institute of Labor Economics (IZA).
• Yongfu Huang, 2005. "What determines financial development?," Bristol Economics Discussion Papers 05/580, School of Economics, University of Bristol, UK.
• Luca Benzoni & Pierre Collin-Dufresne & Robert S. Goldstein, 2005. "Can Standard Preferences Explain the Prices of out of the Money S&P 500 Put Options," NBER Working Papers 11861, National Bureau of Economic Research, Inc.
• Aristeidis Samitas & Dimitris Kenourgios, 2005. "Macroeconomic factors’ influence on “new” European countries stock returns: the case of four transition economies," Finance 0512022, University Library of Munich, Germany.
• Giuseppe Bruno & Ernesto Maurizio Ordine & Antonio Scalia, 2005. "Banks� participation in the Eurosystem auctions and money market integration," Temi di discussione (Economic working papers) 562, Bank of Italy, Economic Research and International Relations Area.
• Ilker Domac & Eray M. Yucel, 2003. "What Triggers Inflation in Emerging Market Economies?," Working Papers 0307, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
• Valerio Crispolti & Daniela Marconi, 2005. "Technology transfer and economic growth in developing countries: an econometric analysis," Temi di discussione (Economic working papers) 564, Bank of Italy, Economic Research and International Relations Area.
• James Dow & Itay Goldstein & Alexander Guembel, 2005. "Commitment to Overinvest and Price Informativeness," OFRC Working Papers Series 2005fe18, Oxford Financial Research Centre.
• Cagri Sarikaya & Fethi Ogunc & Dilara Ece & Hakan Kara & Umit Ozlale, 2005. "Estimating Output Gap for the Turkish Economy," Working Papers 0503, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
• Fatih Ozatay, 2005. "Public Sector Price Controls and Electoral Cycles," Working Papers 0509, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
• Ilker Domac & Kyle Peters & Yevgeny Yuzefovich�, 2003. "Does the Exchange Rate Regime Matter for Inflation? Evidence from Transition Economies," Working Papers 0304, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
• Badri Narayanan G, 2005. "Effects of trade liberalisation, environmental and labour regulations on employment in India's organised textile sector," Indira Gandhi Institute of Development Research, Mumbai Working Papers 2005-005, Indira Gandhi Institute of Development Research, Mumbai, India.
• Fernando N. de Oliveira & Walter Novaes, 2005. "The Market of Foreign Exchange Hedge in Brazil: Reactions of Financial Institutions to Interventions of the Central Bank," IBMEC RJ Economics Discussion Papers 2005-13, Economics Research Group, IBMEC Business School - Rio de Janeiro.
• Knill, April M., 2008. "Does foreign portfolio investment reach small listed firms ?," Policy Research Working Paper Series 3796, The World Bank.
• Cédric Tille, 2005. "Financial integration and the wealth effect of exchange rate fluctuations," Staff Reports 226, Federal Reserve Bank of New York.
• Michael D. Bordo & Christopher M. Meissner, 2005. "The Role of Foreign Currency Debt in Financial Crises: 1880-1913 vs. 1972-1997," NBER Working Papers 11897, National Bureau of Economic Research, Inc.
• Giancarlo Corsetti & Luca Dedola & Sylvain Leduc, 2005. "DSGE models of high exchange-rate volatility and low pass-through," International Finance Discussion Papers 845, Board of Governors of the Federal Reserve System (U.S.).
• Olcay Yucel Emir & Fatih Ozatay & Gulbin Sahinbeyoglu, 2005. "Effects of US Interest Rates and News on the Daily Interest Rates of a Highly Indebted Emerging Country : Evidence from Turkey," Working Papers 0508, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
• Katarina Juselius & Javier Ordóñez, 2005. "The Balassa-Samuelson Effect and the Wage, Price and Unemployment Dynamics in Spain," Discussion Papers 05-29, University of Copenhagen. Department of Economics.
• Farley Grubb, 2005. "The Net Asset Position of the U.S. National Government, 1784-1802: Hamilton's Blessing or the Spoils of War?," NBER Working Papers 11868, National Bureau of Economic Research, Inc.
• Jürgen Essletzbichler, 2005. "Diversity, stability and regional growth in the U.S. (1975-2002)," Papers in Evolutionary Economic Geography (PEEG) 0513, Utrecht University, Department of Human Geography and Spatial Planning, Group Economic Geography, revised Sep 2005.
• Hande Kucuk & Burc Tuger, 2004. "Relative Price Variability : The Case Of Turkey 1994-2002," Working Papers 0402, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
• Richard Dutu & Ed Nosal & Guillaume Rocheteau, 2005. "On the recognizability of money," Working Papers (Old Series) 0512, Federal Reserve Bank of Cleveland.
• Frode Brevik & Stefano d'Addona, 2005. "Information Quality and Stock Returns Revisited," University of St. Gallen Department of Economics working paper series 2005 2005-24, Department of Economics, University of St. Gallen.
• El Hadji Fall, 2005. "Dynamique des ressources renouvelables et actualisation endogène," Cahiers de la Maison des Sciences Economiques v05084, Université Panthéon-Sorbonne (Paris 1).