Report NEP-MAC-2008-04-12

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:

• Vines, David & Stehn, Sven Jari, 2008. "Debt Stabilisation Bias and the Taylor Principle: Optimal Policy in a New Keynesian Model with Government Debt and Inflation Pe," CEPR Discussion Papers 6696, C.E.P.R. Discussion Papers.
• Hans Dewachter & Marco Lyrio & Konstantijn Maes, 2002. "The Effect of Monetary Unification on German Bond Markets," Working Papers of Department of Economics, Leuven ces0205, KU Leuven, Faculty of Economics and Business (FEB), Department of Economics, Leuven.
• Gerlach, Stefan & Assenmacher, Katrin & Sekine, Toshitaka, 2008. "Monetary Factors and Inflation in Japan," CEPR Discussion Papers 6650, C.E.P.R. Discussion Papers.
• Blanchard, Olivier & Galí, Jordi, 2008. "Labour Markets and Monetary Policy: A New Keynesian Model with Unemployment," CEPR Discussion Papers 6765, C.E.P.R. Discussion Papers.
• Gersbach, Hans & Hahn, Volker, 2008. "Monetary Policy Inclinations," CEPR Discussion Papers 6761, C.E.P.R. Discussion Papers.
• Blanchard, Olivier & Galí, Jordi, 2008. "The Macroeconomic Effects of Oil Shocks: Why are the 2000s so Different from the 1970s?," CEPR Discussion Papers 6631, C.E.P.R. Discussion Papers.
• Giavazzi, Francesco & Favero, Carlo A., 2008. "Should the Euro Area be Run as a Closed Economy?," CEPR Discussion Papers 6654, C.E.P.R. Discussion Papers.
• Wieland, Volker, 2008. "Learning, Endogenous Indexation and Disinflation in the New-Keynesian Model," CEPR Discussion Papers 6749, C.E.P.R. Discussion Papers.
• Yunus Aksoy & Tomasz Piskorski, 2001. "Foreign Holdings of Dollars and Information Value of US Monetary Aggregates," Working Papers of Department of Economics, Leuven ces0107, KU Leuven, Faculty of Economics and Business (FEB), Department of Economics, Leuven.
• Raquel Fonseca & Lise Patureau & Thepthida Sopraseuth, 2008. "Divergence in Labor Market Institutions and International Business Cycles," THEMA Working Papers 2008-14, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
• Hans Dewachter & Marco Lyrio, 2003. "Macro Factors and the Term Structure of Interest Rates," Working Papers of Department of Economics, Leuven ces0304, KU Leuven, Faculty of Economics and Business (FEB), Department of Economics, Leuven.
• Honkapohja, Seppo & Evans, George W., 2008. "Expectations, Learning and Monetary Policy: An Overview of Recent Rersearch," CEPR Discussion Papers 6640, C.E.P.R. Discussion Papers.
• Galí, Jordi & Gambetti, Luca, 2008. "On the Sources of the Great Moderation," CEPR Discussion Papers 6632, C.E.P.R. Discussion Papers.
• Pelin Ilbas, 2006. "Optimal Monetary Policy rules for the Euro area in a DSGE framework," Working Papers of Department of Economics, Leuven ces0613, KU Leuven, Faculty of Economics and Business (FEB), Department of Economics, Leuven.
• von Hagen, Jurgen & Paustian, Matthias, 2008. "The Role of Contracting Schemes for Assessing the Welfare Costs of Nominal Rigidities," CEPR Discussion Papers 6726, C.E.P.R. Discussion Papers.
• Annick Bruggeman & Marie Donnay, 2003. "A Monthly Monetary Model with Banking Intermediation for the Euro Area," Working Papers of Department of Economics, Leuven ces0309, KU Leuven, Faculty of Economics and Business (FEB), Department of Economics, Leuven.
• Tambalotti, Andrea & Primiceri, Giorgio & Justiniano, Alejandro, 2008. "Investment Shocks and Business Cycles," CEPR Discussion Papers 6739, C.E.P.R. Discussion Papers.
• Mumtaz, Haroon & Surico, Paolo, 2008. "Evolving International Inflation Dynamics: Evidence from a Time-varying Dynamic Factor Model," CEPR Discussion Papers 6767, C.E.P.R. Discussion Papers.
• Marie Donnay & Hans Degryse, 2001. "Bank Lending Rate Pass-Through and Differences in the Transmission of a Single EMU Monetary Policy," Working Papers of Department of Economics, Leuven ces0117, KU Leuven, Faculty of Economics and Business (FEB), Department of Economics, Leuven.
• Alejandro Justiniano & Giorgio E. Primiceri & Andrea Tambalotti, 2008. "Investment shocks and business cycles," Staff Reports 322, Federal Reserve Bank of New York.
• Ravn, Morten & Mertens, Karel, 2008. "The Aggregate Effects of Anticipated and Unanticipated U.S. Tax Policy Shocks: Theory and Empirical Evidence," CEPR Discussion Papers 6673, C.E.P.R. Discussion Papers.
• Item repec:dgr:kubcen:200832 is not listed on IDEAS anymore

• Beetsma, Roel & Giuliodori, Massimo, 2008. "Fiscal Adjustment to Cyclical Developments in the OECD: An Empirical Analysis Based on Real-Time Data," CEPR Discussion Papers 6692, C.E.P.R. Discussion Papers.
• Corsetti, Giancarlo, 2008. "A Modern Reconsideration of the Theory of Optimal Currency Areas," CEPR Discussion Papers 6712, C.E.P.R. Discussion Papers.
• Reichlin, Lucrezia & Camba-Mendez, Gonzalo & Angelini, Elena & Rünstler, Gerhard & Giannone, Domenico, 2008. "Short-term Forecasts of Euro Area GDP Growth," CEPR Discussion Papers 6746, C.E.P.R. Discussion Papers.
• Hughes Hallett, Andrew & Bernoth, Kerstin & Lewis, John, 2008. "Did Fiscal Policy Makers Know What They Were Doing? Reassessing Fiscal Policy with Real Time Data," CEPR Discussion Papers 6758, C.E.P.R. Discussion Papers.
• Canova, Fabio & López-Salido, J David & Michelacci, Claudio, 2008. "The Effects of Technology Shocks on Hours and Output: A Robustness Analysis," CEPR Discussion Papers 6720, C.E.P.R. Discussion Papers.
• Yunus Aksoy, 1999. "Real Exchange Rates and Monetary Policy Effectiveness in EMU," Working Papers of Department of Economics, Leuven ces9920, KU Leuven, Faculty of Economics and Business (FEB), Department of Economics, Leuven.
• Honkapohja, Seppo & Evans, George W., 2008. "Robust Learning Stability with Operational Monetary Policy Rules," CEPR Discussion Papers 6641, C.E.P.R. Discussion Papers.
• Orphanides, Athanasios & Wieland, Volker, 2008. "Economic Projections and Rules-of-Thumb for Monetary Policy," CEPR Discussion Papers 6748, C.E.P.R. Discussion Papers.
• Hardouvelis, Gikas & Thomakos, Dimitrios D, 2008. "Consumer Confidence and Elections," CEPR Discussion Papers 6701, C.E.P.R. Discussion Papers.
• Kerstin Bernoth & Andrew Hughes Hallet & John Lewis, 2008. "Did fiscal policy makers know what they were doing? Reassessing fiscal policy with real-time data," DNB Working Papers 169, Netherlands Central Bank, Research Department.
• Alan S. Blinder & Michael Ehrmann & Marcel Fratzscher & Jakob de Haan & David-Jan Jansen, 2008. "Central Bank Communication and Monetary Policy: A Survey of Theory and Evidence," DNB Working Papers 170, Netherlands Central Bank, Research Department.
• Yi Wen, 2009. "Input and output inventory dynamics," Working Papers 2008-008, Federal Reserve Bank of St. Louis.
• Charles Goodhart, 2008. "Liquidity and Money Market Operations," FMG Special Papers sp179, Financial Markets Group.
• Paul De Grauwe & Hans Dewachter & Yunus Aksoy, 1999. "From EMS to EMU: Are we better off?," Working Papers of Department of Economics, Leuven ces9921, KU Leuven, Faculty of Economics and Business (FEB), Department of Economics, Leuven.
• Danny Leung, 2008. "Markups in Canada: Have They Changed and Why?," Staff Working Papers 08-7, Bank of Canada.
• Ali Dib, 2008. "Welfare Effects of Commodity Price and Exchange Rate Volatilities in a Multi-Sector Small Open Economy Model," Staff Working Papers 08-8, Bank of Canada.
• Marco Del Negro & Frank Schorfheide, 2008. "Forming priors for DSGE models (and how it affects the assessment of nominal rigidities)," Staff Reports 320, Federal Reserve Bank of New York.
• Item repec:ete:ceswps:ces0022 is not listed on IDEAS anymore

• M. Hashem Pesaran & Til Schuermann & L. Vanessa Smith, 2008. "Forecasting economic and financial variables with global VARs," Staff Reports 317, Federal Reserve Bank of New York.
• Item repec:ete:ceswps:ces9923 is not listed on IDEAS anymore

• Artis, Michael & Okubo, Toshihiro, 2008. "The Intranational Business Cycle: Evidence from Japan," CEPR Discussion Papers 6686, C.E.P.R. Discussion Papers.
• Maoz, Yishay & Hazan, Moshe & Doepke, Matthias, 2008. "The Baby Boom and World War II: A Macroeconomic Analysis," CEPR Discussion Papers 6628, C.E.P.R. Discussion Papers.
• Pissarides, Christopher & Petrongolo, Barbara, 2008. "The Ins and Outs of European Unemployment," CEPR Discussion Papers 6681, C.E.P.R. Discussion Papers.
• Item repec:ete:ceswps:ces09908 is not listed on IDEAS anymore

• Marco Del Negro & Frank Schorfheide, 2008. "Monetary policy analysis with potentially misspecified models," Staff Reports 321, Federal Reserve Bank of New York.
• Schumacher, Christian & Marcellino, Massimiliano, 2008. "Factor-MIDAS for now- and forecasting with ragged-edge data: A model comparison for German GDP," CEPR Discussion Papers 6708, C.E.P.R. Discussion Papers.
• Andrew K. Rose & Mark M. Spiegel, 2007. "International financial remoteness and macroeconomic volatility," Working Paper Series 2008-01, Federal Reserve Bank of San Francisco.
• Obstfeld, Maurice & Taylor, Alan M. & Shambaugh, Jay, 2008. "Financial Stability, the Trilemma, and International Reserves," CEPR Discussion Papers 6693, C.E.P.R. Discussion Papers.
• Marco Bonomo & Cristina Terra, 2008. "Political Business Cycles through Lobbying," THEMA Working Papers 2008-18, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
• von Thadden, Ernst-Ludwig & Pagano, Marco & Favero, Carlo A., 2008. "How Does Liquidity Affect Government Bond Yields?," CEPR Discussion Papers 6649, C.E.P.R. Discussion Papers.
• de Zwart, G.J. & van Dijk, D.J.C., 2008. "The Inefficient Use of Macroeconomic Information in Analysts' Earnings Forecasts in Emerging Markets," ERIM Report Series Research in Management ERS-2008-007-F&A, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.
• Linda S. Goldberg & Cédric Tille, 2008. "Macroeconomic interdependence and the international role of the dollar," Staff Reports 316, Federal Reserve Bank of New York.
• Romain Houssa, 2004. "Monetary Union in West Africa and Asymmetric Shocks: a Dynamic Structural Factor Model," Working Papers of Department of Economics, Leuven ces0411, KU Leuven, Faculty of Economics and Business (FEB), Department of Economics, Leuven.
• Michiel van Leuvensteijn & C. Kok Sorensen & J.A. Bikker & A.A.R.J.M. Rixtel, 2008. "Impact of bank competition on the interest rate pass-through in the euro area," CPB Discussion Paper 103, CPB Netherlands Bureau for Economic Policy Analysis.
• M. van leuvensteijn & C. Kok Sorensen & J.A. Bikker & A.A.R.J.M. van Rixtel, 2008. "Impact of bank competition on the interest rate pass-through in the euro area," DNB Working Papers 171, Netherlands Central Bank, Research Department.
• Guner, Nezih & Ventura, Gustavo & Kaygusuz, Remzi, 2008. "Taxation, Aggregates and the Household," CEPR Discussion Papers 6702, C.E.P.R. Discussion Papers.
• Pesenti, Paolo & Laxton, Doug & Muir, Dirk & Elekdag, Selim & Lalonde, Rene, 2008. "Oil Price Movements and the Global Economy: A Model-Based Assessment," CEPR Discussion Papers 6700, C.E.P.R. Discussion Papers.
• Ignacio Lozano & Hernán Rincón & Miguel Sarmiento & Jorge Ramos, 2008. "Regla fiscal cuantitativa para consolidar y blindar las finanzas públicas de Colombia," Borradores de Economia 4597, Banco de la Republica.
• Banerjee, Anindya & Marcellino, Massimiliano & Masten, Igor, 2008. "Forecasting Macroeconomic Variables Using Diffusion Indexes in Short Samples with Structural Change," CEPR Discussion Papers 6706, C.E.P.R. Discussion Papers.
• Rebelo, Sérgio & Eberly, Janice & Vincent, Nicolas, 2008. "Investment and Value: A Neoclassical Benchmark," CEPR Discussion Papers 6737, C.E.P.R. Discussion Papers.
• Møller, Stig Vinther, 2008. "Habit persistence: Explaining cross-sectional variation in returns and time-varying expected returns," Finance Research Group Working Papers F-2008-04, University of Aarhus, Aarhus School of Business, Department of Business Studies.
• Razin, Assaf & Hale, Galina & Tong, Hui, 2008. "Creditor Protection, Contagion, and Stock Market Price Volatility," CEPR Discussion Papers 6658, C.E.P.R. Discussion Papers.
• Michaelides, Alexander & Grant, Charles & Padula, Mario & Koulovatianos, Christos, 2008. "Evidence on the Insurance Effect of Marginal Income Taxes," CEPR Discussion Papers 6710, C.E.P.R. Discussion Papers.
• Paul De Grauwe & Frauke Skudelny, 2000. "Inflation and Productivity Differentials in EMU," Working Papers of Department of Economics, Leuven ces0015, KU Leuven, Faculty of Economics and Business (FEB), Department of Economics, Leuven.
• Eichenbaum, Martin & Rebelo, Sérgio & Jaimovich, Nir, 2008. "Reference Prices and Nominal Rigidities," CEPR Discussion Papers 6709, C.E.P.R. Discussion Papers.
• Hugo López & Remberto Rhenals & Jesús Botero & Christian Posso, 2008. "Conveniencia de una regla fiscal de balance estructural para Colombia," Borradores de Economia 4578, Banco de la Republica.
• Giavazzi, Francesco & McMahon, Michael, 2008. "Policy Uncertainty and Precautionary Savings," CEPR Discussion Papers 6766, C.E.P.R. Discussion Papers.
• von Hagen, Jurgen & Dinger, Valeriya, 2008. "Does Interbank Borrowing Reduce Bank Risk?," CEPR Discussion Papers 6635, C.E.P.R. Discussion Papers.
• Wolf, Nikolaus, 2008. "Scylla and Charybdis. Explaining Europe?s Exit from Gold, January 1928- December 1936," CEPR Discussion Papers 6685, C.E.P.R. Discussion Papers.
• Gordon, Robert J. & Dew-Becker, Ian, 2008. "The Role of Labour Market Changes in the Slowdown of European Productivity Growth," CEPR Discussion Papers 6722, C.E.P.R. Discussion Papers.
• Buiter, Willem, 2008. "Economic, Political, and Institutional Prerequisites for Monetary Union Among the Members of the Gulf Cooperation Council," CEPR Discussion Papers 6639, C.E.P.R. Discussion Papers.
• Ottaviano, Gianmarco & Peri, Giovanni & D Amuri, Francesco, 2008. "The Labour Market Impact of Immigration in Western Germany in the 1990's," CEPR Discussion Papers 6736, C.E.P.R. Discussion Papers.
• Teulings, Coen & Bovenberg, Lans, 2008. "Rhineland Exit?," CEPR Discussion Papers 6645, C.E.P.R. Discussion Papers.
• Item repec:ete:ceswps:ces0614 is not listed on IDEAS anymore

• Wolff, Christian & Straetmans, Stefan & Versteeg, Roald, 2008. "Are Capital Controls in the Foreign Exchange Market Effective?," CEPR Discussion Papers 6727, C.E.P.R. Discussion Papers.
• Hernando Zuleta, 2008. "Seasons, savings and GDP," Documentos de Trabajo 4592, Universidad del Rosario.
• Flôres Junior, Renato Galvão, 2008. "Are CGE Models still useful in economic policy making?," FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) 674, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil).
• Carlos Gustavo Cano, 2008. "Regulación y supervisión: La otra cara de la política monetaria," Borradores de Economia 4587, Banco de la Republica.